Mine Closure Planning ⎯ The Auction Process as an Option to Assist with Financing Closure

Authors: Dodd, CD; Lee, F; Marshall, RC Paper is not available for download Contact Us

DOI https://doi.org/10.36487/ACG_repo/605_43

Cite As:
Dodd, CD, Lee, F & Marshall, RC 2006, 'Mine Closure Planning ⎯ The Auction Process as an Option to Assist with Financing Closure', in AB Fourie & M Tibbett (eds), Mine Closure 2006: Proceedings of the First International Seminar on Mine Closure, Australian Centre for Geomechanics, Perth, pp. 509-512, https://doi.org/10.36487/ACG_repo/605_43



Abstract:
As we see an increasing amount of mining activity dominated by corporations operating in many different countries, developing uniform closure criteria seems an extremely complex process. Mine closures are being undertaken with an increasing amount of global environmental scrutiny. This increase in global environmental activism are being met with more stringent international stock exchange reporting environment, covering areas such as greater and more accurate reporting of a mining operation’s end of life value and the associated costs closure. Although many environmental issues vary from mine type to mine type in respect of closure, the one common element is the cost constraints that generally face all mine closures. This then requires the determination of the most cost effective method of disposing of residual mine assets whilst aligning this process with the commencement of the final environmental closure requirements being met. In many parts of the globe, far higher environmental standards and costs are being required with increased environmental security not always from the country of which the mining activity has been undertaken.

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