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ARTICLE · 01 MARCH 2013

Quebec To Increase Financial Guarantee Requirements For Mine Restoration

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On February 13, 2013, amendments to the Regulation respecting mineral substances other than petroleum, natural gas and brine, introduced by Ms. Martine Ouellet, the Quebec Minister of Natural Resources, were published.

CanadaEnergy and Natural Resources
Charles Kazaz
Charles Kazaz
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On February 13, 2013, amendments to the Regulation respecting mineral substances other than petroleum, natural gas and brine (the Draft Regulation), introduced by Ms. Martine Ouellet, the Quebec Minister of Natural Resources, (the Minister) were published.

The proposed amendments seek to increase the amount of the financial guarantee required to secure mine restoration costs, accelerate the payment schedule for the guarantee and broaden the scope of exploration projects for which a financial guarantee will be required. These amendments have been expected for a long period of time and follow a report published in April 2009 by Quebec's Auditor-General that criticized Quebec's management of its mine rehabilitation regime.

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