Gold & Silver Mining Exploration Company
CSR

Mine Closure Policy

Underpinning this standard is two of GNCC Capital, Inc.’s (“GNCC”) values:

  • The communities and societies in which we operate will be better off for GNCC Capital, Inc. having been there.
  • We respect the environment.

Three components of GNCC’s integrated environment and community policy are also especially relevant:

  • Comply with all applicable laws, regulations and requirements.
  • Manage efficiently and safely the resources under our stewardship and respect the values, traditions, and cultures of the local and indigenous communities in which we operate.
  • Ensure financial resources are available to meet our closure obligations.

Closure of all GNCC managed sites needs to be carefully planned and implemented in order to meet these commitments. Good closure planning is a value-adding exercise which reduces closure costs, optimizes post-mining land use options, and can help to reduce life of mine operating costs. The values statements recognize that social and environmental issues are interrelated and both affect how host communities perceive and remember a site and its parent company (ies) during and after closure; thus an integrated approach is necessary.

Guidance to assist sites to meet this standard is included in a Closure Guideline and a Financial Model for Mine Closure. In order to avoid repetition, reference to objectives, plans, etc., should be understood to include both environmental and social aspects.

The objectives of this standard are to:

  • Ensure that GNCC Capital, Inc.’s exploration and operating sites are closed in line with host country requirements, if any, and the company’s values, business principles and policies. Sites should be left in a condition which is safe, stable and minimizes adverse impacts on people and the environment.
  • Maximize the post-activity land use that provides an enduring, positive legacy for the landholder and local community, and
  • Align closure and operational planning throughout the mine lifecycle.

(See “Mine Closure Policy” PDF File for our complete statement).