One small concession to Australia’s environment – BHP to pay a bit for future water grab
(once again – so much news about BHP Billiton and Olympic Dam uranium mine – more items at http://nuclearnewsaustralia.wordpress.com/ )
BHP forced to pay for Great Artesian Basin water, ABC Rural By Annabelle Homer , 13/10/2011 The South Australian Government and BHP Billiton have signed an Indenture Agreement to enable the Olympic Dam mine expansion to go ahead. The Indenture Bill will be introduced to State Parliament next week to enable this agreement to be backed by the full force of South Australian law.
As part of the agreement, the company will now be charged for the water it extracts from the Great Artesian Basin and $350 million a year in royalties will be generated once the project is at full capacity….. BHP has accepted reluctantly they will now come under Environment Protection Agency, they are paying for the first time ever for the Great Artesian Basin water.”
BHP will be charged on the current NRM Board levy rate (currently $0.0318/KL) for the region (capped at $0.10/KL), for a period of 30 years from the commencement of the project.The charge will then revert to the current NRM Levy rate.
BHP will not be required to pay for water being taken on the Special Mineral Lease.
Independent environmental consultant David Noonan says the BHP is not paying enough. “He says the company will be paying $1.3 million to $1.5 million a year for essentially a precious water resource.”
The Bill also includes a 12-month sunset clause, which means the company has one year from when Parliament passes the Bill to get the approval from its Board of Directors to formally begin the expansion. http://www.abc.net.au/rural/news/content/201110/s3338957.htm
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