Implementation of a further extension of the compliance date for certain right and permit holders to comply with the Financial Provisioning Regulations, 2015

Summary:

On February 14, 2024, the Minister of Forestry, Fisheries, and the Environment, Ms. Barbara Creecy, granted an extension to holders of rights and permits under the Mineral and Petroleum Resources Development Act (MPRDA) who applied before November 20, 2015, to comply with the Financial Provisioning Regulations, 2015. The extension is necessary due to the proposed amendments to the Financial Provisioning Regulations, 2015, which are still being finalized. The Department of Forestry, Fisheries, and the Environment is working on a simplified methodology for determining financial provisioning requirements for low-risk operations, and consultation on the methodology will commence shortly.