Category A mining waste facilities: financial provision
Summary
The Environment Agency has published guidance on calculating and maintaining financial provision for Category A mining waste facilities under the Environmental Permitting Regulations 2016. It explains that operators must provide a secure financial guarantee, or equivalent, to cover closure, aftercare and risk-related liabilities associated with the waste facility throughout the life of the permit.
Why it matters
Surveyors involved in mining, quarrying or land affected by extractive waste facilities may need to understand the regulatory and financial assurance framework that underpins site risk management. The guidance also highlights environmental and human health liabilities that can affect due diligence, valuation and risk assessment work.
Key points
- Applies to Category A mining waste facilities and certain hazardous mining waste facilities.
- Financial provision must be maintained for the full life of the permit and be available without undue delay.
- Calculation must consider environmental and human health impacts, physical stability, water quality and closure/after-closure care.
- The guidance sits under the Environmental Permitting (England and Wales) Regulations 2016 and the Mining Waste Directive.
- The Environment Agency requires a financial guarantee, such as a bond, deposit or mutual fund, before operations begin.
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