National Mining Association criticizes EPA's proposed financial assurance rule

Following an Environmental Protection Agency (EPA) move to advance new financial assurance rules for hardrock mining, the National Mining Association (NMA) criticized the agency for rushing the rulemaking process and not adequately considering stakeholder feedback.

The association maintains that the EPA is ignoring the concerns of some states, Congress members and industry representatives who are concerned about the financial burdens that would be imposed by the proposed rule.

The NMA said it finds the EPA’s consultation with both mining and financial sector experts to be inadequate and called the agency’s state consultation on the rule’s potential to preempt stat regulations “lackluster.” Further, the association said that the EPA has not shared details of the rule with small businesses, making it impossible for them to gauge how they would be affected or propose alternative regulatory measures.

“This is yet another example of rulemaking in search of a problem; iIt will cost companies tens of millions of dollars — or more — in addition to duplicating existing financial obligations already committed through state and federal mining reclamation and closure programs,” NMA President and CEO Hal Quinn said. “Current programs already address the risks of mining and mineral processing sites and prevent these sites from becoming a Superfund liability.”