Financial Assurances Workshop

This workshop was set up to explore what financial assurance options might be employed for various mines in Saskatchewan.

A work package was provided which included the following:

• a discussion of the types of financial assurances which might be available, as well as some advantages and disadvantages.(extracted from an “Evaluation of Financial Assurance Alternatives of Licensees", by John N. Douglas for Atomic Energy Control Board).
• a discussion on draft principles for an "Environmental Liability Reduction Covenant", a form of contractual agreement for reducing liability through ongoing decommissioning and reclamation during operation of an existing mine. This might be proposed as a financial assurance option to at least partially replace the building of a financial assurance fund.