Speaking to the Australian Graphite Conference this morning, Johnston said the Labor party supported the introduction of the MRF, which he called a "breakthrough policy and a credit to former Mines minister Norman Moore".

"If we don't deal with the gaps in the MRF it will be the rest of the industry that has to carry the cost, through the MRF, of higher levies or rehabilitation in the future," he said.

It is important that we deal immediately with the gaps that have been identified in the MRF to ensure that the levy is a low as possible on operators here in WA." 

The MRF exists to fund rehabilitation of abandoned mines across WA when the tenement holder or operator fails to meet rehabilitation obligations, and every other effort to recover funds has failed.

Payments into the scheme became compulsory in 2014 for companies holding tenements under the Mining Act in WA, allowing money held as environmental unconditional performance bonds by the state government to be repaid.

Budget papers reveal the pooled fund is predicted to be worth $A88.9 million at the end of FY17, comprising levies built up over three years and interest received.

Johnston told MNN before the election that Labor was supportive of the regime.

“A McGowan Labor government would engage with industry and stakeholders to ensure the fund is operating effectively,” he said.