A RECLAMATION

PLAN AND FINANCIAL
GUARANTEES

The granting of an operating permit is based on several conditions imposed by the law and the regulations in force. The company must provide, among other things, a detailed reclamation plan for the mine site, and demonstrate its commitment to return the site to a satisfactory state at the end of the project. This plan must also be accompanied by a significant financial guarantee.

In its Preliminary Economic Study, Lomiko Metals estimates the amount of investment required to start the project at $236 million and the amount to restore the site at $5.3 million. One can therefore question the quality of this restoration.

WHAT IS A

RECLAMATION PLAN

déforestation

The site reclamation plan must be submitted to the government authorities at the same time as the mining application. This plan is applied to the open pit areas, the tailings accumulation areas, and the excavated material treatment areas.

For the Ministry of the Environment, a reclamation plan makes it possible to plan the steps necessary for the satisfactory restoration of the exploited site.

A satisfactory condition of the site includes the following:

  • Eliminate unacceptable risks to the health and safety of people;
  • Limit the production and spread of contaminants likely to harm the environment and, in the long term, aim to eliminate all forms of maintenance and monitoring;
  • Restore the site to a visually acceptable state;
  • Return the infrastructure site (excluding the tailings and waste rock accumulation areas) in a condition suitable for future use.

    Extract: Mine site restoration guide (MERN)

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FINANCIAL GUARANTEE

garantie financière

The mining company, whose rehabilitation and reclamation plan has been approved by the government, is required to present a financial guarantee to the authorities concerned, in accordance with the standards established by regulation. The required amount of this guarantee must correspond to 70% of the anticipated costs for the reclamation plan.

THERE ARE HUNDREDS OF ABANDONED MINE SITES IN QUEBEC

The government is already assuming a cost of $1.2 billion for the restoration of abandoned mining sites. Always read the fine print in a contract)

MINING DISASTERS IN QUEBEC