MGX said completed rehabilitation activities included landform profiling, topsoil spreading, contour ripping and seeding, along with removal of surplus infrastructure and equipment. On 24 October, it constructed a channel through the Main Pit seaside wall to allow controlled progressive flooding at high tide under its closure obligations.
The company said the rehabilitation program was planned and reviewed with relevant government agencies and the Dambimangari Traditional Owners. Crestlink has received Foreign Investment Review Board and Australian Competition and Consumer Commission approvals for its acquisition of Koolan Island, according to MGX.
MGX and Crestlink are finalising remaining rehabilitation tasks and other divestment matters. MGX said Crestlink will pay at least $20.2 million in up-front and deferred consideration, plus a potential CPI-indexed future revenue share of up to $5 million, while assuming remaining rehabilitation obligations anticipated at about $30 million at completion.
Source: Download MGX official ASX announcement, 2026-10-26.
Photograph from MGX Resources Limited's 26 October 2026 announcement, showing rehabilitated areas at Koolan Island.