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The hardrock mining industry argues that pollution from mines result almost entirely from historic operations. Modern mines (post-1976), the industry argues, are governed by numerous statutes and regulations and are environmentally responsible, problem-free operations. It is true that historic mining polluted and continues to pollute rivers, streams and aquifers. Until 1976, there were no federal regulations written specifically to govern hardrock mining operations on publicly owned land. But, it is also clear from the issues at modern mines that the patchwork of laws that govern hardrock mining operations are not enough to ensure that western watersheds and communities are protected. Potential Taxpayer Cleanup Liability Exceeds $12 Billion at Modern Mines According to a 2003 report, current laws leave taxpayers potentially liable for more than $12 billion in mine cleanup costs at currently operating mines. 6 Modern mines are required to post financial. Modern Mining Bankruptcies The underbonding of current operations is a serious problem, because modern mines regularly go bankrupt. In the past twenty years, at least 15 modern mines have gone bankrupt. Modern Mining Gone Awry – 5 Case Studies. Oregon: Formosa Mine In 1991, during a period of high metal prices, Canadian start-up Formosa Exploration Inc. launched a copper zinc mine on 76 acres of federal (BLM) and private land near the town of Riddle in southwest Oregon.
Tags : western watersheds, cleanup liability, cleanup costs, southwest oregon, hardrock mining, free operations, exploration inc, aquifers, formosa, private land, mining industry, blm, bankruptcies, patchwork, riddle
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