[et_pb_section bb_built=”1″ fullwidth=”on” specialty=”off” next_background_color=”#000000″ _builder_version=”3.0.105″ background_color=”#ffffff” animation_style=”zoom” global_module=”4059″][et_pb_fullwidth_image admin_label=”header Environmental” global_parent=”4059″ _builder_version=”3.0.105″ src=”http://dev.gcs-sa.biz/wp-content/uploads/2018/03/section-header-env.jpg” show_in_lightbox=”off” url_new_window=”off” use_overlay=”off” /][/et_pb_section][et_pb_section bb_built=”1″ prev_background_color=”#000000″ _builder_version=”3.0.106″ animation_style=”fade”][et_pb_row][et_pb_column type=”4_4″][et_pb_text]

FINANCIAL PROVISION AND CLOSURE APPLICATIONS

Closure refers to the process leading to the issue of a closure certificate in terms of Section 43 of the Minerals and Petroleum Resources Development Act, 2002 (Act No 28 of 2002) (MPRDA). In terms of Section 41 (3) of the MPRDA, an applicant must make the prescribed financial provision for the rehabilitation or management of negative environmental impacts. If the holder fails to rehabilitate or manage the negative environmental impacts, the Minister may use all or part of the financial provision to rehabilitate or manage the negative environmental impacts. GCS makes use of the Department of Mineral Resources (DMR) Guideline Document for the Evaluation of Financial Provisions made by the Mining Industry. The guideline document contains the methodology for the assessment of the quantum for financial provision.

The DMR requires a ‘clean closure’ assessment, meaning that the mine infrastructure has no salvage value. It states that the cost for all scrap metal, cables and the like can be recovered, which normally covers the demolition costs. Generally accepted closure methods have been used as the basis for determining the master rates for the various closure components. In addition to the above, Section 43 of the MPRDA states that the holder remains responsible for any environmental liability, pollution or ecological degradation and management thereof, until the Minister has issued a closure certificate to the holder. GCS has the necessary skills to develop and assess the full financial provision for a mine or general infrastructure. GCS are also able to assist the client with their rehabilitation fund forecasting for their annual updates. GCS has conducted various different provision assessments of which most have been audited by external financial auditors. GCS has the necessary skills to submit the required documentation for a closure certificate.

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FINANCIAL PROVISION AND CLOSURE APPLICATIONS- GCS PROJECT DATA

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