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Mine Closure
Mine closure is the period of time when the ore-extracting activities of a mine have ceased, and final decommissioning and mine reclamation are being completed. It is generally associated with reduced employment levels, which can have a significant negative impact on local economies. It is also the period when the majority of mine reclamation is completed, making the land safe and useful again. In South Africa, which is a major mining country, closure planning has not yet been formalized. This has led to a range of unintended consequences that have the potential to become sovereign risk if not adequately managed. Closure planning, a relative newcomer to mine planning, continues throughout the life of a mine, starting with conceptual closure plans prior to production, periodic updates throughout the life of the mine, and a final decommissioning plan. This is captured more coherently in the Australian Model to mine closure. At most mines, progressive reclamation over the life of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mining
Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef, or placer deposit. The exploitation of these deposits for raw material is based on the economic viability of investing in the equipment, labor, and energy required to extract, refine and transport the materials found at the mine to manufacturers who can use the material. Ores recovered by mining include metals, coal, oil shale, gemstones, limestone, chalk, dimension stone, rock salt, potash, gravel, and clay. Mining is required to obtain most materials that cannot be grown through agricultural processes, or feasibly created artificially in a laboratory or factory. Mining in a wider sense includes extraction of any non-renewable resource such as petroleum, natural gas, or even water. Modern mining processes involve prospecting for ore bodies, analysis of the profit potential of a proposed mine, extraction of the desired m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mine Reclamation
Mine reclamation is the process of modifying land that has been mined to ecologically functional or economically usable state. Although the process of mine reclamation occurs once mining is completed, the planning of mine reclamation activities occurs prior to a mine being permitted or started. Mine reclamation creates useful landscapes that meet a variety of goals ranging from the restoration of productive ecosystems to the creation of industrial and municipal resources. In the United States, mine reclamation is a regular part of modern mining practices. Modern mine reclamation reduces the environmental effects of mining. Reclamation processes As part of the life cycle of a surface coal mine, completed mine areas must undergo rehabilitation. When mining ends, operators must restore the land to its approximate original contour (AOC) or leave the land graded and suitable for a “higher and better” post-mining land use (PMLU) that has been approved as part of the original mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unintended Consequences
In the social sciences, unintended consequences (sometimes unanticipated consequences or unforeseen consequences) are outcomes of a purposeful action that are not intended or foreseen. The term was popularised in the twentieth century by American sociologist Robert K. Merton and expanded by economist Thomas Sowell and psychologist Stuart Vyse.Robert K. Merton, Versatile Sociologist and Father of the Focus Group, Dies at 92 Michael T. Kaufman, '''' Unintended consequences can be grouped into three types: * ''Unexpected benefit'': ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign Risk
Sovereign credit risk is the risk of a government becoming unwilling or unable to meet its loan obligations, as happened to Cyprus in 2013. Many countries faced sovereign risk in the Great Recession of the late-2000s. This risk can be mitigated by creditors and stakeholders taking extra precaution when making investments or financial transactions with firms based in foreign countries. Five key factors that affect the probability of sovereign debt leading to sovereign risk are: debt service ratio, import ratio, investment ratio, variance of export revenue, and domestic money supply growth. The probability of loss increases with increases in debt service ratio, import ratio, variance of export revenue and/or domestic money supply growth. Frenkel, Karmann, Raahish and Scholtens also argue that the likelihood of rescheduling decreases as investment ratio increases, due to resultant economic productivity gains. However, Saunders argues that debt rescheduling can become more likely i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environmental Remediation
Environmental remediation deals with the removal of pollution or contaminants from environmental media such as soil, groundwater, sediment, or surface water. Remedial action is generally subject to an array of regulatory requirements, and may also be based on assessments of human health and ecological risks where no legislative standards exist, or where standards are advisory. Remediation standards In the United States, the most comprehensive set of Preliminary Remediation Goals (PRGs) is from the Environmental Protection Agency (EPA) ''Regional Screening Levels'' (RSLs). A set of standards used in Europe exists and is often called the Dutch standards. The European Union (EU) is rapidly moving towards Europe-wide standards, although most of the industrialised nations in Europe have their own standards at present. In Canada, most standards for remediation are set by the provinces individually, but the Canadian Council of Ministers of the Environment provides guidance at a fede ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Care And Maintenance
Care and maintenance is a term used in the mining industry to describe processes and conditions on a closed minesite where there is potential to recommence operations at a later date. During a care and maintenance phase, production is stopped but the site is managed to ensure it remains in a safe and stable condition. Causes The mine might be considered to be temporarily unviable, due to current economic conditions or unfavourable resource prices, which are expected to improve at a later date. Declining ore grades at some mines can also be a reason for care and maintenance announcements. In some cases controlling interest companies decide not to further funding for subsidiary operations. During closure While the mine is closed, a care and maintenance program will manage environmental risks associated with tailings dumps, hazardous materials and open and underground pits. Care of idle plant and machinery will also be included in the program. Public health and safety consideratio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
