Rick Conte, Executive Vice President of the Association for Mineral Exploration, has requested feedback from Chamber members on a review by the Ministry of Energy and Mines of the “Financial Security Policy for Mine Reclamation”.
His request was outlined in a letter to EKCM below,
AME has been asked by the Ministry of Energy and Mines to participate in a review of the financial security policy for mine reclamation. The security policy “…must have at its core the twin goals of protecting the taxpayer and industry competitiveness.“
You would see this policy matter in terms of the security bond that is required with the Notice of Work.
I would be interested in hearing from you on any aspect of the security process including:
- Timing of the security, e.g. when it is being asked for
- Types of security instruments, e.g. cash, letters of credit, bonds, other financial instruments that are not currently accepted, etc.
- Assessment of the security amount, do you understand how the amount is calculated
- Your general agreement, or not, with the amount of security, can you discuss the amount with the Inspector
- How your reclamation efforts are assessed
- How your security is returned to you
- How your security is used by government to carry out the reclamation if that occurs
- Timing of the overall process
- And anything else related to reclamation security.
I would appreciate your feedback on this matter as this is our opportunity to try to achieve change.
Please feel free to forward this note to anyone that may have concerns, complaints, general information and that wishes to share it. All information can be sent to my email: [email protected]