Glossary of terms – Mine closure hub
This glossary of terms has been developed to help navigate the technical language used by mining companies, including around mine closure.
These terms and their definitions have been adapted from:
- AusIMM Social Responsibility Framework, Appendix 5: Social Performance Definitions ICMM Community Development Toolkit. Available at https://www.icmm.com/en-gb/guidance/social-performance/community-development-toolkit
- IFC, 2014, A Strategic Approach to Early Stakeholder Engagement, A Good Practice Handbook for Junior Companies in the Extractive Industries, Available at https://commdev.org/publications/a-strategic-approach-to-early-stakeholder-engagement/
- ICMM Integrated Mine Closure Good Practice Guide, 2nd Edition (2019). Available at https://www.icmm.com/website/publications/pdfs/environmental-stewardship/2019/guidance_integrated-mine-closure.pdf
14. Divestment
Process by which a company sells part or all its assets. This can occur at any stage of the mining lifecycle and involves the transfer of ownership, infrastructure, liabilities and responsibility for mine closure.
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Professor Sandy Worden
Research Fellow, Centre for Social Responsibility in Mining