Acts Online
GT Shield

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


Financial Provisioning Regulations, 2015


Appendix 2

16. Cessation of Mining Activities and Shortfall


16.1 Should the beneficiary decide to terminate its mining operations (other than a temporary cessation of such operations) at any mine or part of any mine and/or should the beneficiary be placed into liquidation (whether provisional or final) prior to it having complied with all of the Statutory Obligations, the Founder shall, or procure that the beneficiary shall, not earlier than three months and not later than one month prior to taking any steps for the winding up of such mining operations and within one month of the beneficiary having been placed in liquidation (whether provisional or final), have final estimates prepared of the probable cost of compliance with such outstanding Statutory Obligations, including the cost should a third party be required to effect the measures required to meet the Statutory Obligations, also including providing for the remediation and management of latent or residual environmental impacts which may become known in the future, as well as including the pumping and treatment of polluted mine water, which shall be certified and/or approved as required in the Statutory Obligations.


16.2 On or after the date of termination of any relevant mining activities or any liquidation referred to in clause 16.1, should the total amount of the final estimates as so approved exceed the total amounts standing to the credit of the beneficiary’s account, the Founder shall forthwith pay to the Trust the shortfall.


16.3 The undertakings in this clause 16 are stipulations in favour of the Minister responsible for mineral resources, the benefits of which may be accepted by him/her in any manner and at any time.