National Mining Association Alarmed at EPA’s Flawed Financial Assurance Rule
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The National Mining Association (NMA) has expressed alarm over the Environmental Protection Agency’s (EPA) introduction of new, duplicative financial assurance requirements under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) that disregard serious flaws raised by industry experts and financial institutions.
In a process that has been continuously and needlessly rushed, EPA introduced its proposed rule, “Financial Responsibility Requirements under CERCLA Section 108(b) for Classes of Facilities in the Hardrock Mining Industry,” and offered a woefully inadequate 60-day comment period on an entirely brand new federal program, despite significant concerns voiced by states, Congress and industry, as well as repeated requests to thoughtfully consider the economic ramifications of the rule.
“This rule is unnecessary, redundant and poorly constructed, and exemplifies all the problems of rushed rulemaking from an outgoing administration. Current programs already address the risks of mining and mineral processing sites, and prevent these sites from becoming a Superfund liability, rendering this rule unnecessary,” said Hal Quinn, president and CEO of NMA.
Throughout the process, the EPA has conducted the rulemaking with little to no consultation with actual experts from the mining sector or financial institutions. EPA has also truncated key rulemaking milestones, as evidenced by its lackluster consultation with the states on preemption of existing state programs.
The predictable result is a faulty rule that overstates potential risks and liabilities of modern mining facilities, and duplicates successful state and federal regulatory programs, leaving an exorbitant price tag on an already comprehensively regulated industry.
About NMA
The National Mining Association (NMA) is U.S. mining’s advocate in Washington, D.C. and beyond. NMA is the only national trade organization that represents the interests of mining before congress, the administration, federal agencies, the judiciary and the media — providing a clear voice for U.S. mining. NMA’s mission is to build support for public policies that will help America fully and responsibly utilize its coal and mineral resources. Headquartered in Washington, D.C., NMA has a membership of more than 300 corporations and organizations involved in various aspects of mining. NMA provides a forum for these diverse industry segments to be informed, heard and represented.
To stop by NMA’s website, CLICK HERE
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