International Lender Finance of Mining Projects - Environmental Requirements for Prefeasibility and Feasibility Studies, and for Project Implementation
Organization: Society for Mining, Metallurgy & Exploration
Jan 1, 2001
International lending institutions have charters requiring projects that are seeking loans to adhere to certain environmental performance standards, including compliance with host-country environmental laws, as well as observance of international environmental policies and guidelines. The most commonly applied international environmental policies and guidelines are those established by The World Bank. Lenders require a review by an independent engineer to determine that the feasibility study plans have been developed in accordance with the applicable environmental commitments. Lender agreements require independent engineer evaluation of environmental performance through the construction phase and initial operations phase of the project, culminating in the issuance of an "Environ- mental Completion Certificate."