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National Environmental Management Act, 1998 (Act No. 107 of 1998)

Regulations

Financial Provisioning Regulations, 2015

Chapter 2 : Financial Provision

12. Preparation and submission of plans and reports

 

(1) The annual rehabilitation plan contemplated in regulations 6(a) and 11(1)(a) must contain all information set out in Appendix 3 to these Regulations.

 

(2) The final rehabilitation, decommissioning and mine closure plan contemplated in regulations 6(b) and 11(1)(b) must contain all information set out in Appendix 4 to these Regulations.

 

(3) The environmental risk assessment report contemplated in regulations 6(c) and 11(1)(c) must contain all information set out in Appendix 5 to these Regulations.

 

(4) An applicant and holder of a right or permit must include the sum of the financial provision and an indication of how the sum was determined in the environmental management programme submitted in terms of section 24N of the Act and any environmental audit report required in terms of the Environmental Impact Assessment Regulations, 2014.

 

(5) The holder of a right or permit must, when complying with regulation 11(3), submit a declaration, signed by the independent auditor of the holder of a right or permit, reconciling the financial provision submitted for approval and any update thereof with estimates of exposure and liabilities with regard to environmental rehabilitation disclosed in the financial statement of the holder of a right or permit to the Minister responsible for mineral resources.

 

(6) The financial statement contemplated in sub-regulation (5) must include contingent liabilities and restricted cash associated with the financial provision liability.

 

(7) If the holder of a right or permit cannot submit the assessment findings and auditor’s report within the period stipulated in regulation 11(3)(c), such a holder of a right or permit must, prior to the lapsing of the relevant period, request an extension from the Minister responsible for mineral resources whilst providing a detailed explanation of the reasons for the inability to submit such report within the stipulated period.

 

(8) The extension of the time period contemplated in sub-regulation (7) may be granted for a maximum period of three months and no further extension will be allowed.