The coal, metalliferous and extractive industry sectors, as well as the oil and gas and exploration industries in NSW all contribute to the Mine and Petroleum Site Safety Fund
The Mine and Petroleum Site Safety Fund was established by the Mine Safety (Cost Recovery) Act 2005, as the Mines Safety Levy.
The purpose of the Fund is to provide for NSW mine safety regulation and enforcement activities by NSW Department of Industry. New South Wales workers compensation insurers contribute through the Fund to the mine safety regulatory activities undertaken by NSW Department of Industry. These contributions are collected in conjunction with the premiums paid by employers operating in the mining industry.
Each year, NSW Department of Industry determines the amount of money to be collected from the NSW coal mining industry for its contribution to the Mine and Petroleum Site Safety Fund.
Coal Mines Insurance collects the Mine and Petroleum Site Safety Fund contribution in conjunction with your premiums paid throughout the year. The amounts due are adjusted upon receipt of actual wages for the policy period. The contribution paid is then forwarded to NSW Department of Industry.
For more information on the Mine and Petroleum Site Safety Fund visit the NSW Department of Industry (Resources and Energy) website www.resourcesandenergy.nsw.gov.au.