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Whitehaven Coal Limited : Annual Report 2013
49 Whitehaven Coal Limited Annual Report 2013 5 Environment Biobanking agreement During FY2013 Whitehaven's Regional Biobank site was registered -- the largest registered biobank site in New South Wales. Established as Biobank Agreement 43, this Biobank area comprises the o set requirements relevant to Whitehaven's Canyon, Rocglen and Tarrawonga (excluding 2013 extension) requirements, and comprises an area of 1,495ha. BioBanking is a market-based scheme that enables 'biodiversity credits' to be generated by landowners who commit to enhance and protect biodiversity values on their land through a biobanking agreement. These credits can then be sold, generating funds for the management of the site. Credits can be used to counterbalance (or o set) the impacts on biodiversity values that are likely to occur as a result of development. The credits can also be sold to those seeking to invest in conservation outcomes, including philanthropic organisations and government. The Biobank is located on the western fall of the Kelvin Range, located to the east of our Rocglen mine site. The Biobank site will conserve and manage four types of vegetation, including two endangered ecological communities which are listed under the Threatened Species Conservation Act 1995, being the White Box Grassy Woodland and the Semi Evergreen Vine Thicket. The site will also provide potential habitat for wildlife such as koalas, owls, bats and lizards, including threatened species such as the Grey Crowned Babbler and Square Tailed Kite. As part of the establishment of the Biobank site, Whitehaven has paid the in-perpetuity management costs for the site into the Biobanking Trust Fund, comprising some $1,687,935. FY2014 will be the rst year of active management in the biobank area, with the release of funds from the trust for the rst year of management actions.
Annual Report 2012