Effective January 27, 2012, the United States Securities and
Exchange Commission ("SEC") has adopted new rules
outlining how publicly traded mining companies must disclose in
their quarterly and annual reports the mine safety information
required by the Dodd-Frank Wall Street Reform and Consumer
The new rule is applicable to foreign private issuers and to
Canadian issuers reporting under the US-Canadian
multijurisdictional disclosure system. The disclosure, however,
only applies in respect of mines located in the United States.
The information required by the new SEC rules, which is required
to be disclosed on a mine-by-mine basis, includes:
Significant and substantial violations of mandatory health or
safety standards under the Federal Mine Safety and Health Act of
1977 ("Mine Act") for which the operator received a
citation from the Mine Safety and Health Administration
Information regarding citations and orders for unwarrantable
failure of the mine operator to comply with the Mine Act.
Imminent danger orders issued under the Mine Act.
The dollar value of proposed assessments from the MSHA.
Notices from the MSHA of a pattern of violations or potential
to have a pattern of violations under the Mine Act.
Pending legal actions before the Federal Mine Safety and Health
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In Bank of Montreal v Bumper Development Corporation Ltd, 2016 ABQB 363, the Alberta Court of Queen's Bench enforced the "immediate replacement" provision in the Canadian Association of Petroleum Landmen 2007 Operating Procedure...
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