We have significant experience in assisting clients in Australia and overseas with mine closure planning to meet regulatory reporting requirements and internal/external financial accounting requirements. We choose to work with the client in a way that integrates mine closure planning into relevant areas of the operation and where the client is left with the tools and knowledge to manage mine closure internally. Services are:
- Preparation of mine closure plans
- Calculation of mine closure liability estimates and development of company-specific liability models
- Strategy and options analysis
- Auditing, verification and compliance
Financial Liability Calculation
The calculation of mine closure liability is one of the core services provided by Kewan Bond Pty Ltd. Liability calculations tools can be tailored to incorporate the following features:
- Alignments with various external (State/Territory) and internal requirements
- Compliance with accounting standards – IFRS, FASB, AASB
- Tools that offer transparency and functionality (not ‘black-box’)
- Cash flow charts
- Probabilistic analysis
- Third party rates
- Customised to align with closure plans, site or corporate templates
- Involvement of specialists where required (e.g. infrastructure demolition)
Strategy and Options Analysis
Companies generally have a number of life of mine (LOM) scenarios which require different closure strategies. Kewan Bond Pty Ltd works closely with clients to identify and analyse a variety of closure options and provide the required technical support, including:
- Mine closure options analysis
- Cost analysis of varying LOM and closure strategies
- Scheduling and cost impacts of different strategies
- Assumptions and criteria to support closure costing
- Technical support to determine the optimal closure strategy to match the LOM
Mine Closure Plans
Mine closure plans are critical planning documents that can have a broad scope and purpose to meet various internal and external requirements. Primarily the closure plan is used as a working document to facilitate the ongoing refinement of closure strategies by identifying and addressing key risks and knowledge gaps. Closure plans generally need to align with specific State or Territory requirements (e.g. WA Mine Closure Guidelines). They are also designed to provide contextual information to support the closure liability estimates.
Closure plans require regular review to accommodate changes in disturbance, closure strategies, mine plans etc. Kewan Bond Pty Ltd can draw on its extensive experience in this area to tailor your closure plan to meet your specific needs.
Auditing, Verification and Compliance
Kewan Bond Pty Ltd specialises in auditing and verifying company closure provisions to ensure compliance with relevant legislation. Auditing services that we can provide are:
- Auditing and verification of closure cost/provision
- Compliance with regulatory closure provision requirements
- Mining Rehabilitation Fund (MRF) Act 2012 (WA) calculations
- Financial Assurance (FA) calculations, QLD
- Completion of regulator online calculators such as the FA reporting tool, QLD