Rehabilitation Cost Estimate (RCE) Tool Webinar
This webinar is to demonstrate updates to the RCE Tool, and discuss directly with industry.
The NSW Resources Regulator undertakes regular reviews of the rehabilitation cost estimate tool to ensure it remains accurate and reflective of third party costs should the security deposit be required in the unlikely event of default by a titleholder. In 2021 the Regulator engaged a specialist consultancy firm to undertake a benchmark review of the rehabilitation cost estimate tool. The benchmark review process involved sourcing rates from a range of sources including earthworks contractors, demolition contractors, mine sites and specialist consultants.
As a result of the review, the rehabilitation cost estimate tool has been updated to reflect revisions to specific rates as well as to include new rehabilitation line items. A key outcome being that the number of line items have been increased to 236 from 172 line items listed in the current tool.
These additional items have been added to the tool to improve the granularity of calculations and to account for the range of rehabilitation methodologies that may be adopted for various exploration and mining scenarios.
Recognising the need for the industry to prepare for the new requirements under the Mining Regulation 2016, which includes the trigger to submit rehabilitation cost estimates on an annual basis, a transition period is in place until 2 July 2022 to fully comply with the requirements. The Regulator will be implementing a staged implementation approach whereby all title holders must use the updated rehabilitation cost estimate tool (XLSM, 3.35 MB) from the 2 July 2022. Up until 2 July 2022, industry may choose to use the existing tool (XLSM, 3.13 MB) or the revised tool (XLSM, 3.35 MB).
