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Compensation Fund, page-2

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Steve1984

310 Posts.

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15/03/21

10:08

Post #: 51764723
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Originally posted by Alexandria07: ↑

In my opinion if the company was to be granted its ML a condition of establishment should be the creation of an Independent Compensation Fund.

A % of initial development funds and a % of all ongoing annual profits would be accumulated in the event of unforeseen events such as dam disaster, toxic contamination of environment, medical compensations and relocation of civilians to name a few.

An amount of x million of dollars should remain in the Fund until all risks associated with the Mining are reduced.

Opinions welcomed.

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This is actually a good idea.
over in Australia, I think this is called an Environmental rehabilitation bond, and it is held in trust until the mine is rehabilitated. It is there just in case mining companies go bankrupt and do a runner, leaves the funds for the tidy up work to be done.

GGG Price at posting: 16.0¢ Sentiment: Hold Disclosure: Held
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