Bill Brings certainty to Landholders & Resources Industry

New legislation introduced into Parliament aims to provide landholders and resource companies with greater certainty when negotiating conduct and compensation agreements and make good agreements.

coal-seam-gasThe Mineral, Water and Other Legislation Amendment Bill looks to streamline and improve negotiation processes, making it easier for landholders and resources companies to co-exist.

Mines Minister Anthony Lynham says it’s critical to the Queensland economy and our regional communities that our agriculture and resources industries continue to co-exist.

He told Parliament that under the changes to the Mineral and Energy (Common Provisions) Act 2014, resource companies would be required to cover the reasonable and necessary agronomist costs incurred by a landholder to assess the real impact of resources activities on their land.

“This is in addition to the existing requirement for resource companies to pay a landholders reasonably and necessarily incurred legal, accounting and valuation costs.”

“The legislation also clarifies that these costs must be paid by a resources company even where negotiations are abandoned and an agreement is not reached, and the Land Court has been given the jurisdiction to determine these costs if there is a dispute between the parties.”

The proposed changes flow from a review of Queensland’s Gasfields Commission, which included an assessment of current land access and compensation arrangements.