B.C. Mine Reclamation Security Policy
In May 2016, the Auditor General’s report on compliance and enforcement of the mining sector was released which highlighted the need for a clear and transparent policy to ensure that the mine reclamation security held by government is appropriately managing financial risk to the taxpayer.
As a first step, the Ministry of Energy, Mines and Petroleum Resources (EMPR) commissioned Stantec Consulting Ltd. to examine how jurisdictions in Canada and abroad deal with the issue, and as a result the Policy and Process Review for Mine Reclamation Security was released in September 2016.
EMPR and the Ministry of Finance then commissioned Ernst & Young (EY), a leading firm with experience and knowledge of the mining industry worldwide, to undertake an in-depth examination of EMPR’s reclamation securities practices. In February 2017 EY completed a Report and Recommendations for B.C.’s Mine Reclamation Security Policy including a comprehensive examination of the current approach and further analysis of best practices. During their review, EY found that EMPR utilizes a financial security program based on sound principles that include elements of a risk-based approach. EY’s main recommendation was to formalize a risk management framework for mine security. This work is currently underway.
As part of the policy development process, EMPR requested input on the recommended policy components detailed in the Ernst & Young report and/or best practices in other jurisdictions. Input was accepted until November 8, 2018 at 4pm.
October 11 to November 8, 2018
- 7 written submissions from organizations
- 240 email submissions from individuals
Input leads to action:
Input received during the engagement process will inform the drafting of EMPR’s reclamation security policy. A summary of the engagement, and the key issues raised, will be posted to this site in early 2019.