A new report into the health of Macquarie Harbour on Tasmania's west coast has found a second lease operated by salmon producer Tassal had caused an environmental decline in January, reports ABC News.

The new report from the Institute of Marine and Antarctic Studies (IMAS) said there was a further decline in the abundance of fauna found in the sediment under another lease owned by Tassal  in the three months until the end of March.

The report found improved oxygen levels in the harbour were encouraging but warned similar improvements were seen early last year and concentrations fell to extremely low levels six months later.

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