The Allan Labor Government is ensuring that every single dollar received from water access for the Latrobe Valley mine rehabilitation will go back to local communities and families.
Treasurer Jaclyn Symes today announced all water access revenue received from AGL's bulk water entitlement will be paid into the Regional Jobs and Infrastructure Fund for the benefit of the Latrobe Valley and Gippsland.
The Regional Jobs and Infrastructure Fund supports community projects, creates new jobs, and delivers infrastructure projects that help regional and rural Victoria continue to connect and grow.
This will support the region's long-term future, including through opportunities to improve waterway health and long-term resilience of the Latrobe River system, water security and efficiency projects, and enhance self-determined outcomes for Gunaikurnai Traditional Owners.
Funding would start to flow once mine rehabilitation for the Loy Yang coal mine starts and continue until 2065 at the latest.
Allocating water for Loy Yang mine rehabilitation will help support a safe, stable and sustainable environment post-rehabilitation.
Conditions are in place through the bulk entitlement to protect the water rights of existing water users and the local river systems in Gippsland, including restricting take to the wettest months of the year. AGL will not be allowed to take more water than they have used historically for power generation.
As part of this decision, AGL is required to pay $230 per megalitre per year, increasing in line with inflation, for water access once mine rehabilitation commences.
Any use of water for mine rehabilitation is also subject to other approval requirements.
For more information about the mine rehabilitation in the Latrobe Valley, visit resources.vic.gov.au.
As stated by Treasurer Jaclyn Symes
"We are backing our local communities to ensure that funds raised from mine rehabilitation go back directly to supporting the Latrobe Valley and Gippsland through the regional trust."
As stated by Minister for Water Gayle Tierney
"This is a significant decision that will provide the Latrobe Valley and Gippsland community with certainty in planning for future mine rehabilitation and will not diminish the water entitlements of other water uses and values."
As stated by Member for Eastern Victoria Harriet Shing
"We have listened to local community and are delivering the financial benefits of the mine rehabilitation back into the Latrobe Valley and Gippsland while ensuring the former mine sites are left safe and stable."
