• In 2007, Norton Gold Fields Ltd (Norton) acquired the project from Moonraker (including by
taking over the Phase 2 Agreement) and completed a tailings reprocessing project feasibility
study with a positive outcome. However, due in part to the impacts of the 2008 financial crisis,
Norton was unable to fund the project;
• The site returned to the State and sat dormant for several years;
• In 2014, a private company, Raging Bull Pty Ltd (Raging Bull), signed an agreement with Norton
to continue evaluating tailings reprocessing. Raging Bull then signed an 'Agreement for Retrofit
and Operation of Infrastructure' for a water treatment plant to treat the contaminated water in
the open cut pit so it could be released to the Dee River;
• In 2016, Raging Bull entered an agreement with another entity, Carbine Resources Pty Ltd
(Carbine), giving Carbine the right to acquire Raging Bull's interest in the mining leases still
held by Norton. In 2018, Carbine withdrew from the project because it did not consider the
project to be economically feasible. Full ownership of the mining leases remained with Norton;
and
• After negotiations with the State, Heritage Minerals acquired Norton's interest in the project.
The Phase 2 Agreement was assigned to Heritage Minerals in May 2020. The mining leases
were transferred to Heritage Minerals in September 2020.
3.1.4. Phase 2 Agreement
As stated above, the Phase 2 Agreement sets out a framework for Heritage Minerals’ use of the site
and the co-existence of its reprocessing activities and the State's site management and remediation
activities. The key function of the Phase 2 Agreement is to apportion rehabilitation liability between the
State (in its capacity as manager of the legacy impacts under the Abandoned Mines Land Program and
as landholder) and Heritage (in its capacity as the mining operator undertaking new tailings
reprocessing activities).
The Phase 2 Agreement has the following effect:
• If Heritage Minerals does not use or disturb an area of the site as a result of its mining
operations, it is not required to carry out any rectification or rehabilitation of that area;
• In particular, except as expressly set out in the Phase 2 Agreement, Heritage Minerals is not
required to rectify or rehabilitate any disturbance or impact on the site caused by mining
activities (including all ancillary and associated activities) conducted before 1 October 2003,
including any and all environmental consequences of those activities;
• If Heritage Minerals uses or disturbs an area of the site, it must carry out rehabilitation activities
in respect of that use or disturbance. The rehabilitation activities that Heritage Minerals carries
out:
o Must be consistent with the 'DNRME Site Remediation Plan' (to the extent relevant and
unless otherwise agreed between the parties);
o Must be in accordance with all relevant laws and approvals; and
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Wulguru Technical Services Pty Ltd – Supporting Information Report
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