Every mine has a finite operational life, and the eventual closure of a mine can contribute to significant social, economic, and environmental changes, especially in nearby communities. We believe that properly closing a mine must involve mitigating our environmental impacts, as well as managing and addressing our partners’ social and economic concerns. We recognize that it may not be possible to restore a mine site exactly as it was prior to mining, but it is possible to restore a healthy, thriving ecosystem, with lands that support productive post-mining land use.
We have developed a Permitting and Closure Management System (PCMS) so that closure planning is integrated into our decision making before construction even begins. The pillars of the PCMS are to plan for closure from the start, develop reasonable cost estimates, execute to plan, and maximize asset value. The PCMS incorporates the requirements of a number of foundational Barrick policies, procedures and guidelines, including the Corporate Social Responsibility Charter, the Environmental Management System, and the Community Relations Management System.
Over the life of a mine, reclamation and closure technologies evolve, regulations can expand, stakeholder expectations can change, and our knowledge expands with lessons learned from around the world. Therefore, the PCMS has been designed to reflect and adapt to changing conditions by imposing a disciplined approach to initial engineering, robust management of change, and periodic reassessments of our assumptions.
It is not uncommon for our sites to pursue expansion opportunities as they approach the end of their permitted mine life. If permitting is successful, and project economics justify expansion, this may delay closure. At the same time, they develop more detailed closure plans to be ready for any eventuality.