NT Government shaves $120 million off McArthur River Mine environmental security bond - ABC News
The NT Government has quietly reduced the environmental rehabilitation bond for a major Top End mine by more than $100 million after controversially approving a significant expansion of the site. Key points: The McArthur River Mine's environmental security bond was reduced by $120 millionThe Environment Centre NT says taxpayers could become liable for environmental damageA proposal to double the size of the zinc and lead mine was approved on Thursday Glencore's McArthur River Mine, a lead and zinc mine near Borroloola in the Gulf of Carpentaria, now has a security bond of about $400 million instead of $520 million. Mining and Industry Minister Nicole Manison announced approval for a doubling of the size of the project's mine pit and waste rock dump earlier this week. Security bonds are a risk-based payment made to the NT Government to cover any costs of dealing with mining-related environmental harm. Mine expansion could be invalid: ECNT She did not specify whether that plan had been costed.
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