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
1. Asset
A resource with economic value that an individual, community group or mining company owns or controls with the expectation that it will provide a future benefit. Includes infrastructure, human resources, natural resources, institutions and relationships. These are sometimes referred to as capitals because they can be used to generate additional resources; for example, people’s human resources (skills and education) can generate economic returns and higher earnings.
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Professor Sandy Worden
Research Fellow, Centre for Social Responsibility in Mining