For Immediate Release
April 5, 2022
MABC Responds to Major Mines Reclamation Security Policy
VANCOUVER, BC – The provincial government’s new interim Major Mines Reclamation Security Policy is one of the most stringent mine reclamation bonding policies in the world, says the Mining Association of British Columbia (MABC).
The interim policy requires major operating mines to provide assurance that taxpayers will not be liable for mine site reclamation and environmental clean-up. The policy encourages proactive reclamation, where mines conduct restoration work throughout the life cycle of the mine on areas where mining activity no longer occurs.
“We are reviewing the interim policy and will consult with our membership, said Michael Goehring, President and CEO of MABC. “On first look, the interim policy includes substantial bonding requirements that exceed most other jurisdictions in the world. It appears to encourage long-term environmental stewardship and the responsible development of the metals and minerals the world needs to support the low carbon future.”
BC’s mining industry currently provides more reclamation security than other natural resource sectors. In total, the Province holds more than $2.3 billion in reclamation security from BC mining companies, an increase of more than $1 billion since 2016.
“One important aspect of the interim policy to be developed is a transparent bonding calculator that establishes reasonable and fair costs for reclamation work,” said Goehring. “MABC encourages the government to continue to work with industry to ensure mines have clarity on how reclamation security costs are determined.”
In addition to the new interim policy, the laws and regulations governing BC’s mining industry have undergone significant changes in recent years, including a new Mines Act, a revised Health, Safety and Reclamation Code, new water quality guidelines, and ongoing monitoring to protect downstream communities and critical salmon habitat. The independent Chief Mines Auditor determined that BC’s tailings storage facilities regulations are among the best in the world.
About the Mining Association of British Columbia
MABC is the voice of British Columbia’s mineral and metal producers, steelmaking coal, smelters and advanced development companies. Our industry benefits all British Columbians and supports more than 35,000 jobs and over 3,700 small, medium and Indigenous affiliated businesses in every corner of the province through an annual spend of nearly $3 billion on goods and services. Our members’ products have among the lowest carbon footprints globally and are helping the world transition to a cleaner, low-carbon future; safely and responsibly.
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