Managing Environmental Risk - Legal Requirements
Organization: The Australasian Institute of Mining and Metallurgy
Jan 1, 1994
What is `environmental risk'? There are two possible perspectives: (a) The risk that mining activity will have an impact on the environment. (b) The risk that due to a perceived impact on the environment, the mining activity is at risk due to some legal consequence. This paper is concerned with the second of these perspectives, and particularly with the way in which mining companies can manage that risk. Environmental risk - possible legal consequences The risk is that the mining operation will be disrupted. Disruption may be: (a) Physical. The mining activity can be stopped, altered, or modified, or something additional can be required to be done. (b) Financial. Penalties (up to $1M) on corporations and in some states on both directors and managers. Land may also be included on a contaminated land register (significant impact on asset valuation).