Financial security for reclamation is required during the mining approval process and is based on the estimated cost to complete reclamation as per the approval plan. The security shall be in a form and amount acceptable to the Department of Energy and Resource Development. The security will be released back to the company once the reclamation has been completed according to the plan and the site is returned to an acceptable state.
The following table describes the security deposits required:
|Right Type||Description||Fee/Charge ($)|
|Mineral Claims||Private Lands:
|Mining Lease||Crown Lands||1,500.00/ha|
The actual minimum security must be equal to the full cost of reclaming the site.
Security must be in one of the following forms:
- A negotiable bond signed over to the Province
- An irrevocable letter of credit from a bank or other lending institution acceptable to the Minister and negotiable only by him (applicable for a term not less than one year)
- A bond of an insurance company authorized and licensed to do business in New Brunswick (applicable for a term not less than one year). The bond must be in the form prescribed by regulation.
For additional information, please contact the Secretary of Standing Committee on Mining and the Environment (SCME).