Authors: Fleury, A; Parsons, AS

Paper is not available for download
Contact Us

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

Cite As:
Fleury, A & Parsons, AS 2006, 'Financial Assurance for Mine Closure and Reclamation', in AB Fourie & M Tibbett (eds), 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

Download citation as:   ris   bibtex   endnote   text   Zotero


Abstract:
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.

References:
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, .




© Copyright 2021, Australian Centre for Geomechanics (ACG), The University of Western Australia. All rights reserved.
Please direct any queries or error reports to repository-acg@uwa.edu.au