mining financial rehabilitation
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FINANCIAL PROVISIONING FOR REHABILITATION AND MINE
This report analyses the financial provisions for environmental rehabilitation of mining sites reported by JSE-listed mining companies. In some cases, we attempt to contextualise these amounts by examining them relative to the volume of mining taking place, although there are significant limitations to the meaningfulness of these comparisons.
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Financial Provisions for Rehabilitation and Closure in
maintenance and rehabilitation in the mining sector. These concerns give rise to questions about the availability of funds to manage the impacts of mining and the adequacy of financial provisions made by mining companies for rehabilitation. With this in mind, this discussion document provides a critical
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Mine Rehabilitation and Closure Cost
4. The rehabilitation bonds and financial assurance held as an offset; 5. Investment to date in progressive rehabilitation the current disturbed land to rehabilitation ratio for each mine site; and, 6. Commodity price forecasts against mine closure timeframes.
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Mine rehabilitation and financial assurance the new
(Financial Provisioning) Bill 2017 (2017 Bill), which lapsed due to the 2017 election. The Bill proposes the introduction of two key changes to Queensland’s mine rehabilitation and financial assurance regime: 1. revised financial assurance regime that A seeks to minimise the financial risk to the State if mineral and energy resource tenure
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Rehabilitation Plan and Closure Cost Estimate for the De
Rehabilitation Plan and Closure Cost Estimate for the De Groote Boom Mining Area UAR2967 Digby Wells Environmental 2 Act, 2014 (Act No 25 of 2014) (NEMLA) provides that the holder of a mining right must make financial provision for rehabilitation of negative environmental impacts1.
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MINE REHABILITATION
rehabilitation and closure phase, when the site is being restored to an agreed post-mining use. Key factors that need to be considered in pre-mining studies include legal requirements, climate, topography, soils and community views. Community views are clearly most important in deciding the final land use as they are the most likely site users.
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DMR clarifies its mine rehabilitation financial provision
Oct 25, 2016· The DMR notes that when certain financial institutions terminated their relationship with the mining rights holder, it notified the department of its intention to transfer the rehabilitation funds which were held with Standard Bank, to another financial institution.
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Life Cycle of a Mine: From Planning to Rehabilitation
Dec 02, 2019· 3. After Mining. Once the mining process is complete, mining companies can return the land to a natural state and prepare for post-closure reuse. Mine closure and rehabilitation activities need to take local environmental conditions into account. Evidence of the mining operation must be removed as much as possible.
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Financial reporting in the mining industry International
pwc\mining Financial reporting in the mining industry International Financial Reporting Standards 6th edition
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4. The rehabilitation bonds and financial assurance held as an offset; 5. Investment to date in progressive rehabilitation the current disturbed land to rehabilitation ratio for each mine site; and, 6. Commodity price forecasts against mine closure timeframes.
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KWM Risky business mine rehabilitation and financial
May 04, 2017· [1] Environmental regulation of the resources and waste industries, report of the Queensland Audit Office, Report 15, April 2014. [2] Resource sector must provide for mine site rehabilitation, Media Statement, Minister for Environment and Heritage Protection and Minister for National Parks and the Great Barrier Reef, 22 July 2016. [3] Financial assurance framework reform,
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MINING PROJECT REHABILITATION AND CLOSURE
Mining Project Rehabilitation and Closure Guidelines 1.0 INTRODUCTION Papua New Guinea (PNG) is home to mining operations that range in scale and proximity to communities. Mining operations last from a few years to decades, and vary in their degree of rehabilitation and mine closure (RMC) planning. This document is intended to provide direction on
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Rehabilitation financial guarantee question
The requirements to issue financial guarantees for rehabilitation obligations have come a long way under South African Law relating to mining operations. On 20 November 2015 the Financial Provision Regulations pertaining to the financial provision for prospecting, exploration, mining or production operations, published in GNR 1147 of 20
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Regulations Pertaining to the Financial Provision for
financial provision for rehabilitation of mining –considered insufficient for calculating the costs of rehabilitation –out-dated, too generic, does not include underground or surface water liabilities, which is a large percentage of mines total liability •Effectiveness of institutional mechanisms to
Ask for priceLife Cycle of a Mine: From Planning to Rehabilitation
Dec 02, 2019· 3. After Mining. Once the mining process is complete, mining companies can return the land to a natural state and prepare for post-closure reuse. Mine closure and rehabilitation activities need to take local environmental conditions into account. Evidence of the mining operation must be removed as much as possible.
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Financial assurance Department for Energy and Mining
Under the Mining Act 1971 (the Act) the holder of a mining tenement is responsible for the rehabilitation of land disturbed by mining operations. The Department for Energy and Mining (DEM) is responsible for ensuring financial liabilities from unrehabilitated mining activities do not become the responsibility of the people of South Australia.
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Concepts for the Regulations Pertaining to the Financial
mining • Related to financial provision the agreement entailed Environmental function of mining to be regulated under NEMA rehabilitation –out-dated, too generic, does not include underground or surface water liabilities, which is a large % of liability
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Mining Rehabilitation (Financial Provisioning) Amendment
Nov 13, 2018· Mining Rehabilitation and Financial Provisioning Amendment Bill 2018 . Speech by. MP STEPHEN ANDREW . Mr Speaker I rise to speak on behalf of the Mining Rehabilitation and Financial Provisioning Bill and bring to the attention of the house several issues and actions which have weighed heavily on my final decision to lend conditional support to
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Rehabilitating Rio: end of the mine or the start of the
Jan 22, 2021· Bureaucrats have been left to discharge huge national responsibilities for the rehabilitation of uranium mining, the management and future of Kakadu National Park and the welfare of everyone in it.''
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Australian mine rehabilitation: Projects leading the way
Feb 04, 2019· Mining is one of the biggest industries in Australia, with profits surging A$27.7bn in the second half of 2017, according to the Australian Financial Review. However, these profits often come at the cost of local environments, with topsoil removed, earth excavated and forests destroyed to make space for mining operations.
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PROPOSED REGULATIONS PERTAINING TO FOR THE
and manage financial security for undertaking progressive rehabilitation, decommissioning, closure and post closure activities associated with reconnaissance, prospecting, mining, exploration and production operations; (c) identify the circumstances under which the Minister may use the financial
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New mine rehabilitation regulations prove Mining Review
Jun 09, 2016· Rum below suggests the use of tailor made mining rehabilitation investment solutions that optimise current 37A trust structures. Smit iterates this, suggesting that mining houses now partner with specialists in mining rehabilitation who are able to off er structured finance solutions and investments in order to meet the open-ended financial
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Financial Provisions for Rehabilitation and Closure in
The newly released Financial Provisions for Rehabilitation and Closure in South African Mining: Discussion Document on Challenges and Recommended Improvements report, commissioned by WWF-SA, recognises that Mining in South Africa is a key element of economic development. However, ongoing concerns regarding environmental degradation in mining
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Innovative financial provisioning a game Mining Review
Mar 30, 2021· Innovative financial provisioning a game changer for mining rehabilitation. “Despite the industry’s concern about the regulations and the prospect of additional financial strain on mining houses, at a time when they can least afford it, the availability of structured, tailor-made solutions for financial
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MINE REHABILITATION
Rehabilitation is central to the business of mining The mining industry is continuing its efforts to improve rehabilitation methods to ensure mining’s compatibility with current and future land uses. Companies are required to lodge cash bonds, unconditional financial institution guarantees or non-refundable contributions to pooled funds.
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STANDARD GUIDANCE (COP 40) Mine Rehabilitation and
o Financial provisions should as a minimum be in accordance with applicable law. In the absence of such laws, provisions may be in the form of bonds, letters of credit or other financial instruments, or by self-insurance or self-guarantee. COP 40.4: Good practice rehabilitation: Members in the Mining Sector shall adopt good practice
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(PDF) Rehabilitation of mining sites: Do taxation and
Stoianoff and Kaidonis (2005) exploring both, accounting standards and the taxation provisions with respect to the treatment of rehabilitation costs of mining entities in Australia. The
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financial provision for rehabilitation of mining –considered insufficient for calculating the costs of rehabilitation –out-dated, too generic, does not include underground or surface water liabilities, which is a large percentage of mines total liability •Effectiveness of institutional mechanisms to
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Post-mining rehabilitation; Post-mining rehabilitation. Reports, emphasizing that “whole of life” rehabilitation planning is integral in providing better ecological and financial outcomes. With an estimated 76% of proposals assessed in the Pilbara stipulating rehabilitation conditions as a basic obligation of mine closure, proper
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Assuring your compliance to the new mine closure
mining right or mining permit make a prescribed financial provision for the rehabilitation or management of negative environmental impacts before the Minister would approve the environmental management plan (EMP). Furthermore, the MPRDA Regulations of 2004, Regulations 53 and 54, regulated the making of financial provisions and prescribed
Ask for priceMining Rehabilitation (Financial Provisioning) Amendment
Nov 13, 2018· Mining Rehabilitation and Financial Provisioning Amendment Bill 2018 . Speech by. MP STEPHEN ANDREW . Mr Speaker I rise to speak on behalf of the Mining Rehabilitation and Financial Provisioning Bill and bring to the attention of the house several issues and actions which have weighed heavily on my final decision to lend conditional support to
Ask for priceConcepts for the Regulations Pertaining to the Financial
mining • Related to financial provision the agreement entailed Environmental function of mining to be regulated under NEMA rehabilitation –out-dated, too generic, does not include underground or surface water liabilities, which is a large % of liability
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and manage financial security for undertaking progressive rehabilitation, decommissioning, closure and post closure activities associated with reconnaissance, prospecting, mining, exploration and production operations; (c) identify the circumstances under which the Minister may use the financial
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R.A. No. 10142 Lawphil
- This Act shall be known as the "Financial Rehabilitation and Insolvency Act (FRIA) of 2010". Section 2. Declaration of Policy. It is the policy of the State to encourage debtors, both juridical and natural persons, and their creditors to collectively and realistically resolve and adjust competing claims and property rights. In furtherance
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THE MINING INDUSTRY PROMOTES SUSTAINABILITY
FINANCIAL PROVISION FOR REHABILITATION AND MINE CLOSURE “Financial guarantees which account for R28.4 billion (57.9%) of funds provided, are a preferred financial instrument.” PAGE 4 Promoting sustainability through financial provisions for mine rehabilitation and closure Position Paper
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Financial Provisioning Scheme for resource activity
Apr 01, 2019· The financial assurance changes affect small scale mining tenure holders and all resource activity environmental authority holders. If you hold a resource activity environmental authority (EA), you will need to know about the estimated rehabilitation cost (ERC) for an EA to understand how the FPS applies to you.
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Pitfalls arising from the financial provision for mining
Oct 22, 2014· Mining companies in South Africa are required to make financial provision in terms of the Mineral and Petroleum Resources Development Act No. 28 of 2002 (“the MPRDA”), read with the National Environmental Management Act No. 107 of 1998 (“NEMA”), for the rehabilitation of the mining areas on which mining activities are conducted (this
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