Mine closure and exit strategies - risk financing solutions for environmental liabilities and sustainability

Mining Rocks! CIM Toronto 2005
Paul Fitzgerald, Paul Tomory, Jean-Francois Bolduc,
Abstract "Risk financing solutions are emerging to fully address environmental liabilities for mining operations. Supported by specialized insurance and alternative risk transfer (ART) products, mine owners can fund, cap and guarantee the environmental liabilities and closure obligations of a mine within a financial structure that will be acceptable to regulators. An environmental risk financing program will permit an owner to transfer the liabilities and indeed the ownership of a site to a third party that has the ability and resources to responsibly execute the closure plan. A properly structured program will be financially viable for the owner and will also respond to community and environmental opposition concerns about sustainable development and the environmental legacies associated with mining activities."

Keywords: Mine Closure, Exit Strategy, Environmental Risk Financing, Sustainability
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