Revisions to the Guide to the Mine Financial Security Program
The Alberta Energy Regulator (AER) has revised the Guide to the Mine Financial Security Program based on the recommendations from the three-year review of the program. The Mine Financial Security Program collects security for oil sands and coal mine operations approved under the Environmental Protection and Enhancement Act (EPEA).
The primary changes to the guide are summarized below. For a complete list of the changes, see the Changes to the Guide section in the guide.
- Added deemed netback eligibility requirements for a new mine operation.
- Clarified that a simple average instead of a weighted average is to be used in determining three-year average annual netback and three-year average annual sales.
- Added the process for joint venture approval holders to apply for a deemed netback.
- Set out the legislation under which EPEA approvals holder are required to provide the data used in their calculations to the AER upon request.
- Explained when EPEA approval holders can request a security reduction or refund and how the process works.
The revised guide, which is effective immediately, is available on the AER website, www.aer.ca, under Abandonment & Reclamation > Liability Management > Mine Financial Security Program > Supporting Documents.
Future reviews of the Mine Financial Security Program may include evaluating the changes noted above.
For any questions about this bulletin, send an email to @email.
<original signed by>
Mark Taylor
Senior Vice President
Climate Change and Closure and Liability