Rehabilitation & Closure

Rehabilitation & Closure

Tacora knows mining is a temporary use of the land. After cessation of operations of the Scully Mine and the associated metallurgical facilities, Tacora will rehabilitate the land in a safe and environmentally sound manner to achieve the following objectives:

• To restore affected landscapes to a physically and chemically stable and safe environment, in order to protect public health and safety
• To reduce or eliminate potential adverse environmental effects associated with each phase of the project
• To create a post closure site plan where no permanent water treatment or other operational measures are necessary to ensure that acceptable water and air quality will continue in perpetuity
• To return the property to the Lessor, 1128349 B.C. LTD. (formerly called MFC BANCORP Ltd.), after monitoring demonstrates closure objectives have been met

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Wherever practical, rehabilitation measures will be implemented proactively during the remaining mine life. This will especially be demonstrated with the ongoing progressive rehabilitation program in the Tailings Impoundment Area, Mine Area, and Waste Dumps. Many aspects of the Rehabilitation and Closure Plan (RCP) will be implemented once the facility is closed. However, closure is not imminent for the foreseeable future.

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The Mine’s 2024 RCP is currently undergoing government approval and consultation and is designed to include operation into 2047. Approval of this document is anticipated in 2025. The RCP is intended to be a living document that will undergo internal reviews and revisions as required, as well as resubmission to the Provincial government of Newfoundland and Labrador, every five years.

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Based on the approved 2017 RCP, a Financial Assurance of more than C$41 million has been provided to government to cover the costs associated with rehabilitation and closure of the entire mine site,. It is anticipated the Financial Assurance will increase to approximately $57 million once the 2024 RCP is approved to cover the next 5 years of development. Future RCPs will reflect changes to mine plans, site conditions and as the degree of design detail in closure planning engineering advances.