in favour of the Minister for Primary Industry and Resources unconditional (i.e. no expiry date) for the Authorisation as advised in the security request letter from the department. Do not include titles or project names on the guarantee. Bank guarantees should also be supported by: Evidence of appointment as an Attorney (or other authorised officer) for the Financial Institution issuing the security instrument for the person(s) signing the security instrument; Evidence the relevant person issuing the security instrument on behalf of the financial institution is authorised to issue the type, form and amount of security; Evidence the financial institution will ratify and be bound by the acts of the person issuing the security instrument on behalf of the financial institution, for verification purposes. The Authorisation reference number be quoted when submitting payment to ensure correct must receipting. While the MMA details the requirement to provide security deposits, it does not provide for interest payable on such deposits. The money held by the department is in trust and remains in stasis. 7 Security Variation At any time the operator may request a reassessment of the security held by the department based on either successful close out of disturbances or a change in project activities. This request must be accompanied by a new or amended MMP detailing rehabilitation and closure status. 8 Release of Security A partial security (excluding the amount calculated as the contingency fund) may be released back to the operator on provision of evidence that demonstrates adequate rehabilitation has been undertaken. This may require a site visit by Mining Officers to verify that planned rehabilitation has been completed. The contingency fund portion of the security will be retained by the department for an agreed period, or until Mining Officers have confirmed that the rehabilitation has been deemed successful and the project area is considered safe, stable, self-sustainable and non-polluting and no further rehabilitation or remediation works, site visits or monitoring will be required. Generally, a project area can be following at least one wet season in the Top End or a ‘closed out’ significant rainfall event in Central Australia, if there is significant vegetation regrowth present and the rehabilitated area is stable.
in favour of the Minister for Primary Industry and Resources unconditional (i.e. no expiry date) for the Authorisation as advised in the security request letter from the department. Do not include titles or project names on the guarantee. Bank guarantees should also be supported by: Evidence of appointment as an Attorney (or other authorised officer) for the Financial Institution issuing the security instrument for the person(s) signing the security instrument; Evidence the relevant person issuing the security instrument on behalf of the financial institution is authorised to issue the type, form and amount of security; Evidence the financial institution will ratify and be bound by the acts of the person issuing the security instrument on behalf of the financial institution, for verification purposes. The Authorisation reference number must be quoted when submitting payment to ensure correct receipting. While the MMA details the requirement to provide security deposits, it does not provide for interest payable on such deposits. The money held by the department is in trust and remains in stasis. 7 Security Variation At any time the operator may request a reassessment of the security held by the department based on either successful close out of disturbances or a change in project activities. This request must be accompanied by a new or amended MMP detailing rehabilitation and closure status. 8 Release of Security A partial security (excluding the amount calculated as the contingency fund) may be released back to the operator on provision of evidence that demonstrates adequate rehabilitation has been undertaken. This may require a site visit by Mining Officers to verify that planned rehabilitation has been completed. The contingency fund portion of the security will be retained by the department for an agreed period, or until Mining Officers have confirmed that the rehabilitation has been deemed successful and the project area is considered safe, stable, self-sustainable and non-polluting and no further rehabilitation or remediation works, site visits or monitoring will be required. Generally, a project area can be ‘closed out’ following at least one wet season in the Top End or a significant rainfall event in Central Australia, if there is significant vegetation regrowth present and the rehabilitated area is stable.