NSW mining company operations remain suspended
Young Mining’s suspension over unpaid environmental rehabilitation security deposits has been upheld in the NSW Supreme Court.
The NSW Department of Industry’s Resources Regulator said the company, a subsidiary of Indian-owned company Orind Australia, owes $500,000 in deposits.
All Young Mining’s mining operations have again been suspended until the company has complied with its obligations by providing the required security deposit.
“The Supreme Court’s decision today demonstrates that the NSW Resources Regulator’s actions to suspend Young Mining’s mining operations have been appropriate and reasonable,” Chief Compliance Officer Lee Shearer said.
“The Regulator has actively tried to work with Young Mining to reach a resolution to this breach since 2013. The company had been granted more than sufficient time to pay the required security deposit.
“The Government’s position on this issue is very clear – environmental rehabilitation costs must be met by the mining licence holder.
“Environmental rehabilitation security deposits and requirements for progressive rehabilitation during the life of a mine are part of the regulatory framework which ensures a viable and sustainable mining industry in NSW. The NSW Resources Regulator takes any failure to provide full security deposits very seriously.”