Mine Closure

The Birch Lake and Maturi sites, as well as the processing site and tailings disposal facilities, will be closed at the end of the mines’ lives in accordance with all state and federal environmental and other requirements.

In order to go into production, Franconia Minerals will be required by the state to post bonds, insurance and other financial guarantees that the Project will be operated and closed in an environmentally sound manner, without cost to the state or the local communities.

The monetary amounts will be reviewed annually, before the mine is closed, to guarantee financial reserves are sufficient to protect taxpayers from any future liability. Monitoring will be required after closure to protect against future environmental risks, notably in management of the engineered surface disposal facility.

The sites will be re-vegetated or restored to as natural a state as possible, so they can again serve as habitat or can be developed with no unmitigated environmental damage.