Neither the law nor the accounting standards governing company disclosures ensure that mining companies are transparent about financial provision set aside to rehabilitate environmental damage. This is the key finding of the latest report in the Centre for Environmental Rights’ (CER’s) Full Disclosure series. Mining rehabilitation is a contentious issue in SA, with many abandoned gold mines being used as for illegal mining, while mine dumps become an increasing risk on the environment and pose health issues to communities surrounding mining areas. The study looked at what mining companies were doing to ensure clarity on what money had been set aside to rehabilitate mines after the end of their operating life. The law requires mining companies to set aside and ring-fence enough money to fix mines. If a mining company fails to rehabilitate‚ the state is supposed to be able to access that money and carry out the rehabilitation itself. While there are presumably companies that comply fu...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.