Fleury, A & Parsons, AS 2006, 'Financial Assurance for Mine Closure and Reclamation', in AB Fourie & M Tibbett (eds), Mine Closure 2006: Proceedings of the First International Seminar on Mine Closure
, Australian Centre for Geomechanics, Perth, pp. 43-49, https://doi.org/10.36487/ACG_repo/605_Fleury
ICMM members are global leaders in the mining industry committed to providing continuous improvement
in sustainable development performance. Responsible mine closure is a core component of this commitment.
Environmental financial assurance for mine closure ensures that funds are available for decommissioning
and reclamation of a site if an operator does not fulfill its obligations. It provides confidence to both
governments and communities that satisfactory closure will be achieved. Consequently, ICMM members
view the provision of financial assurance as an important aspect of the mining industry’s commitment to
sustainable development. There is, however, a need to ensure that the application of financial assurance is
efficient, fair, consistent and transparent.
This paper builds on two earlier studies that examine financial assurance policies and practices in key mining
jurisdictions and from the perspectives of mine operators, governments and financial institutions (Miller,
1998; International Council on Mining and Metals, 2005). Both reports are important background references
to this paper and on financial assurance for mining in general.
International Council on Mining and Metals (2003) ICMM principles,
International Council on Mining and Metals (2005) Financial assurance for mine closure and reclamation,
Miller, C.G. (1998) Use of financial surety for environmental purposes,