Wellgreen Project Preliminary Economic Assessment ... - OTCIQ.com

20.4 M I NE C LOSURE AND R ECLAMATION P LAN
All mines must have an approved reclamation and closure plan that has been
approved by the Government of Yukon before mine development can commence
(Yukon Energy, Mines, and Resources 2006). A Reclamation Plan for the mill area
and a Tailings Pond Environmental Monitoring Plan have been designed and
implemented in 2009 (Access 2009b; 2009c). These plans will have to be updated to
reflect the new mine plan.
Financial assurance must be posted to secure the rehabilitation works, and the
determination of the outstanding mine reclamation and closure liability associated
with the Project technical features and structures must be sealed by a professional
engineer who is licensed to practice in Yukon (Yukon Energy, Mines, and Resources
2006).
The amount and form of security to be provided by the proponent will be determined
by the Government of Yukon. The government will also ensure that security is
maintained at all times. Financial security will comprise an initial payment, prior to
commencement of development, and a periodic adjustment to ensure that full
security is held for outstanding reclamation and closure liability throughout the
development, operation, and closure of a mine site. Security for mitigative
contingencies will be required for higher risk components, if required. Progressive
reclamation may reduce the amount of financial security required to be provided and
maintained by the proponent.
The proponent must file an annual report stating what progressive reclamation has
been accomplished and the results of environmental monitoring programs. As
progressive reclamation and closure work is completed, monitoring will be conducted
by the proponent to determine the effectiveness of the mitigation measures (Yukon
Energy, Mines, and Resources 2006).
A reclamation and closure plan should fully address, but not be limited to, the
following (Yukon Energy, Mines, and Resources 2006):
• reclamation objectives, including closure design criteria
• the progressive reclamation of the site during the life of the operation
• the removal or stabilization of any structures and workings
• the design of tailings and waste rock disposal areas
• the reclamation and re-vegetation of the surface disturbances wherever
practicable
• methods for protection of water resources
• a temporary closure plan
• a cost estimate of the work required to close and reclaim the mine
Prophecy Platinum Corp. 20-21 1193460500-REP-R0001-02
Wellgreen Project Preliminary Economic Assessment,
Yukon, Canada