Topics: Energy and resources

New bill proposes major amendments to resources tenure regime in Queensland

The introduction of the Natural Resources and Other Legislation Amendment Bill 2019 on 26 February 2019 saw key amendments proposed to the laws governing mineral, energy and petroleum tenure in Queensland. Notable amendments are proposed to the Mineral Resources Act 1989 (Qld) (MRA), the Mineral and Energy Resources (Common Provisions) Act 2014 (Qld) and the Petroleum and Gas (Production and Safety) Act 2004 (Qld) (PGA).

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Waste disposal levy to be introduced across Queensland

A new waste management and resource recovery strategy developed by the Queensland Government will be underpinned by a new waste levy commencing on 1 July 2019. A review of existing waste regulations in Queensland triggered the change to a risk-based approach to managing waste in the State. The Waste Reduction and Recycling (Waste Levy) Amendment Act 2019 (Amending Act) introducing the levy, received royal assent on 21 February 2019 and will amend the Waste Reduction and Recycling Act 2011.

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Further exploration acreage released in QLD following coal reserves upgrade

While announcing the recent round of successful tenders for the exploration of coal and minerals in Queensland, Minister for Natural Resources, Mines and Energy, Dr Anthony Lynham, declared more land open for exploration across the State. The move to unlock further land for exploration follows a recent geological report commissioned by the Queensland Government that substantially upgraded coal reserve estimates across the State’s coal provinces.

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Treasurer uses FIRB powers to reject CKI’s $13 billion bid for APA Group on ‘national interest’ grounds

Hong Kong-based company CK Infrastructure Group’s (CKI) $13 billion bid to buy Australian APA Group and its energy network has been rejected by Treasurer Josh Frydenberg. The Foreign Investment Review Board failed to reach a unanimous ruling on the tender application but expressed concerns that the acquisition would give a single foreign company monopoly of a majority of Australian pipelines.

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