The cancellation of the licences was recommended by the Independent Commission Against Corruption (ICAC).
The legislation will require all exploration data on the tenements to be provided to the NSW Government and provide that the licence holders will remain responsible for any necessary rehabilitation works on the sites.
There is no intention to immediately re-release the affected areas but any future process for issuing licences will be consistent with the NSW Government’s implementation of the ICAC’s recommendations on probity.
No compensation is to be provided for the cancellation of these licences.
The legislation will indemnify the taxpayer from any possible claims relating to the issuing or cancellation of the licences.