The Queensland Government has announced a targeted review of the Financial Provisioning Scheme (FPS) to ensure it continues to support investment in the resources sector while effectively managing environmental rehabilitation and financial risks.
The review, led by the Department of Natural Resources and Mines, Manufacturing and Regional and Rural Development in partnership with Queensland Treasury, will assess whether the Scheme’s current settings remain fit for purpose and identify any improvements needed. The FPS requires mining companies to provide financial security or contribute to a government-managed fund to cover rehabilitation costs should environmental obligations not be met.
Following the review, administration of the Scheme will transfer to the Department of Natural Resources and Mines, Manufacturing and Regional and Rural Development. The initiative forms part of the Queensland Government’s broader focus on supporting a competitive and sustainable resources sector.
Read full Media Statement HERE
