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Australia Must Tackle A$4 Billion Mine Closure Expenditures

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With Australia home to thousands of working and inactive mines, the imminent need for sustainable mine closure solutions is undeniably crucial. According to Dominic Banfield, the lead author of the report ‘Enabling Mine Closure and Transitions: Opportunities for Australian Industry,’ the demand for effective mine closure strategies will continue to surge as the nation strives for responsible closures that pave the way for prosperous post-mining futures.

The report delineates opportunities within four categories of mine closure solutions. Firstly, miners are urged to actively engage in effective partnerships to enhance social performance and mitigate risks. Secondly, companies should seek ways to cost-effectively reduce, reuse, and recycle mine waste. Thirdly, attention should be directed towards the development of technologies that improve the efficiency and performance of rehabilitation efforts. Lastly, the report emphasizes the importance of addressing the challenges in establishing sustainable post-closure land uses that create long-term economic, social, or environmental value.

“The report offers a comprehensive overview of the rich opportunities available in engagement and partnership, waste reduction and recovery, mine rehabilitation, and land use transitions,” highlighted Guy Boggs, CEO of the Cooperative Research Centre for Transformations in Mining Economies, the organization behind the research. “Conclusively, we believe that Australia has the potential to become a global leader in pioneering mine closure solutions by skillfully addressing its domestic mine closure challenges.”

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