Schedule of Non-Departmental Contingent Liabilities as at 30 June 2004
2003
Actual | | 2004
Actual |
| $000 | | $000 |
| | Public Liability Claims | |
| 100 | Rehabilitation of Mineral Mining Licences | 100 |
| 100 | Pounamu Compensation | - |
| 100 | Basel Convention on transboundary movement of hazardous waste | 100 |
| 253 | New Zealand Contribution to the Universal Postal Union | 248 |
| | Guarantees and Indemnities | |
| 7,545 | Solid Energy New Zealand Ltd rehabilitation from coal mining operations | 41,680 |
| | Legal Proceedings and Disputes | |
| 1,088 | Rampala Investments | 1,088 |
| 700 | Watt V Registrar of Companies | - |
| 50 | Riverton Gold Mining Co Ltd V Attorney General | 50 |
| 9,936 | Total Contingent Liabilities | 43,266 |
Solid Energy New Zealand Ltd Rehabilitation from Coal Mining Operations
The Crown has indemnified Solid Energy New Zealand Ltd for rehabilitation liabilities arising from coal mining operations carried out by State Coal Mines prior to 1 April 1987.
The Crown Indemnity has been assessed on several occasions since 1989. The Crown liability was assessed in June 2004 by Solid Energy New Zealand Ltd at $48,957,090 being the amount required at 30 June 2004 for full rehabilitation. This amount has been updated to include Acid Mine Drainage treatment over an extended period of time. This classification was not previously identified as the territorial authorities have now introduced discharge standards relating to mines operations. The Crown has previously accepted $10,682,000 as a liability and to date has incurred costs of $3,405,000. The Crown has not concluded its consideration of the Solid Energy New Zealand Ltd assessment of the Crown Indemnity. For this reason the increase of $41,680,090 ($48,957,090-$7,277,000) is considered to be a Contingent Liability as at 30 June 2004.
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