Cierre De Minas

SUMMARY 26.0 Mining Closure/Post-Closure Obligations
Comments stressed the importance of this article and suggest adding provisions that would apply in circumstances of a temporary mine closure.SUMMARY 26.1 Closure Plan and Closure Obligation
Commentators suggested that this article should outline a step-by-step process for mine closure, while other commentators suggest that the articleshould be more general. Several comments noted that the period within which the State must provide feedback on the closure plan should be lengthened.

SUMMARY 26.2 Guarantees for Closure ExpensesComments suggested that companies should not be required to provide cash payments in advance of mine closure, as such payments may invite misuse of the reserved funds and may detract from funds availablefor community development.

26.0 Mining Closure/Post-Closure Obligations

26.1 Closure Plan and Closure Obligations

(a) The Company shall prepare and deliver a closure plan to the Statepursuant to Section 2.4(e) of this Agreement (“Closure Plan”). The Closure Plan shall address the anticipated environmental, social and economic state of the Project Area during the next five-year period ofMining Operations, and shall be prepared in Consultation with communities in the Project Area. It shall be consistent with any Community Development Agreements, and prepared consistent with guidanceprovided by the Planning for Integrated Mine Closure Toolkit and related guidance published by the International Council on Mining and Metals. The Closure Plan shall be updated through the same processby which it was prepared each time that there is a substantial change in Project operations. In the event that no such updated Closure Plan has been submitted for five (5) years, the Company shalldeliver an updated Closure Plan on the sixth anniversary of the last such submission.

(b) The Company shall, after Consultation with communities in the areas affected by Mining Operations, deliver...