EP&C re-post: Adoption of Equator Principles 4

    On 18 November 2019, the updated version of the Equator Principles (EP), EP4, was adopted by the Equator Principles Association. EP4 will apply to mandated transactions from 1 July 2020. The key amendments are as follows: Please click here to view the post on Environment, Planning & Communities Notes. Read more

    Western Australia’s new lithium royalty regime

    On 11 October 2019 the Western Australian government announced that it will introduce a new royalty regime for lithium producers in the form of a 5% feedstock royalty rate for lithium hydroxide and lithium carbonate where those are the first products sold and the feedstock is spodumene concentrate. The announcement comes after a recent review … Read more

    Climate change: Succeed in a lower-carbon future

    In a 2019 global survey, 1,250 CEOs rated environmental / climate change risk the single biggest threat to business growth. The race is on for businesses to understand their environmental impact and to manage the legal risks to succeed in a lower-carbon future. Our report, which gathers insights from our global experts, considers the political, … Read more

    EPC Re-post: Review of the Equator Principles – Draft EP4 released for comment

    By William Oxby, Partner, Brisbane, Antony Crockett, Senior Consultant, Hong Kong and Louise Kruger, Senior Associate, Brisbane. The Equator Principles (EPs) is a risk management framework adopted by financial institutions to determine, assess and manage environmental and social risks of the projects they finance. Established in 2003, the EPs have been adopted by 96 financial … Read more

    Briefing note – NROLA Act introduces amendments to the MRA and PAGA

    Overview On 15 May 2019, the Queensland Parliament passed the Natural Resources and Other Legislation Amendment Act 2019 (NROLA Act). The Act implements a large number of changes across 34 pieces of land, water and mining legislation.1 Relevantly, the NROLA Act includes reforms to the administration of coal and petroleum exploration tenements in Queensland. This … Read more

    Mining Charter III: certainty, but at a cost

    The Broad-Based Socio-Economic Empowerment Charter for the Mining and Minerals Industry, 2018 (Mining Charter III or the Charter) came into force on Friday, 1 March 2019 – almost three years after the publication of the first draft. This brought to a close nearly three years of uncertainty and speculation regarding the nature and content of the final version of South … Read more

    A methodology for the calculation of native title compensation

     On 13 March 2019, the High Court handed down its first decision on native title compensation in ‘Timber Creek’ [2019] HCA 7 (Timber Creek). The High Court’s decision is a measured reflection of the need for Australian law to evolve in a manner that acknowledges, recognises and accommodates the diversity and individuality of native title … Read more

    Climate change impacts used to reject new NSW coal mine

    Proponents seeking consent for new projects, or modifications of existing projects, with ‘material’ greenhouse gas emissions across all industries in NSW should carefully assess climate change impacts, particularly if the proposal is not ‘carbon neutral’. What has happened? On 8 February 2019, the NSW Land and Environment Court (Court) refused development consent for a new … Read more

    Third party intervention in investment arbitration: Tribunal admits NGO submissions in Gabriel Resources’ claim against Romania concerning mining project

    The Tribunal in Gabriel Resources v Romania recently issued an order (the Order) in response to an application (the Application) made by three Romanian NGOs, as non-disputing parties, for participation and an amicus submission (the Submission) in an ICSID arbitration under the Canada-Romania BIT (the BIT). Gabriel Resources’ allegations of breach of the BIT arise … Read more