When the Gold is Gone: Reporting of Asset Retirement Obligations for the Ultimate Cleanup of Closed Mining Operations

2010 ◽  
Vol 10 (1) ◽  
pp. 57-87 ◽  
Author(s):  
Paula A. Wilson ◽  
Fern Zabriskie
Keyword(s):  
Financial Reporting ◽  
Environmental Protection Agency ◽  
Gold Mining ◽  
The United States ◽  
Financial Resources ◽  
Mining Operations ◽  
Mining Companies ◽  
Exit Costs ◽  
Simple Ratio ◽  
Hardrock Mining

ABSTRACT: Hardrock mining companies contribute positively to the U.S. economy. However, they also cause serious degradation to the surrounding environment. According to the Environmental Protection Agency, hardrock mining companies are among the greatest polluters in the United States. Mining companies are responsible for satisfying legal obligations arising under environmental laws that include cleanup and exit costs for all mines shut down. These environmental liabilities are called asset retirement obligations and under FAS No. 143, U.S. mining operators are required to recognize their asset retirement obligations upon acquisition or construction of their mines. In this paper, we examine the financial reporting for asset retirement obligations for gold mining companies. Based on a simple ratio analysis, it appears that top U.S. gold mining operators have sufficient financial resources to meet their future asset retirement obligations. However, when we conducted sensitivity analysis to exclude intangible assets and to adjust the value of the asset retirement obligations, we found that firms are not likely to have sufficient financial resources to meet their obligations. Current financial assurance mechanisms do not consistently and effectively result in firms meeting their asset retirement obligations. As a result, U.S. taxpayers can be left with the costs of cleanup and reclamation.

scholarly journals “Our Chronic and Desperate Situation”: Anthracite Communities and the Emergence of Redevelopment Policy in Pennsylvania and the United States, 1945–1965

2002 ◽  
Vol 47 (S10) ◽  
pp. 137-158 ◽  
Author(s):  
Gregory Wilson
Keyword(s):  
United States ◽  
The United States ◽  
Difficult Problem ◽  
Business Owners ◽  
Mining Operations ◽  
Mining Companies ◽  
Alternative Plan ◽  
Union Leaders ◽  
United Mine Workers ◽  
United Mine

On 3 May 1954, Lehigh Coal and Navigation Company announced that it would close its anthracite mining operations in Pennsylvania's Panther Valley. Company officials had hoped to keep some mines open but net losses in 1953 amounted to $1.4 million and the trend continued into early 1954. The company stated they would reopen the mines only if miners would work harder and produce more. All area locals of the United Mine Workers of America (UMW) voted to accept the program except one, Tamaqua Local 1571. Arguing that the new rules violated existing wage agreements, workers from this Local picketed the mines and called on miners across the anthracite region to join them. Tamaqua miners offered an alternative plan that called for workers to share control over management and production decisions. Lehigh managers refused and closed the mines, effective from 30 June. As other mining companies began to collapse in the 1950s and 1960s, local workers, business owners, union leaders, and politicians made efforts to either open mines or attract new industries. However, unemployment remained a difficult problem for the Panther Valley and for the entire anthracite region and the area still exhibits higher than average unemployment.

ASPECTS OF GOLD MINING IN INTERACTING REGIONS (on the example of participants in the “Yenisei Siberia TRC”)

2020 ◽  
Vol 3 (12) ◽  
pp. 125-129
Author(s):  
S. P. MONGUSH ◽  
Keyword(s):  
Statistical Analysis ◽  
Gold Mining ◽  
Legal Framework ◽  
Financial Resources ◽  
Negative Aspect ◽  
Development Trends ◽  
Mining Companies ◽  
Gold Market ◽  
Processing Information ◽  
Strategic Goals

The article presents the results of the study of the gold market, taking into account the analysis of development trends, developed proposals for determining the optimal aspects of the work of gold mining companies in the Russian reality. methods of collecting and processing information, statistical analysis were used. The factors and reasons hindering the development of gold mining are described. The directions of achieving the strategic goals of the industry are reflected. it is concluded that the state needs to strengthen the legal framework and simplify the mechanism for obtaining licensing, but the main negative aspect is the lack of financial resources.

Scanning electron microscopy of asbestos-containing material where the asbestos fibers are considered locked in a binder

1993 ◽  
Vol 51 ◽  
pp. 472-473
Author(s):  
J. R. Millette ◽  
R. S. Brown
Keyword(s):  
Electron Microscopy ◽  
Scanning Electron Microscopy ◽  
Environmental Protection Agency ◽  
Building Materials ◽  
The United States ◽  
Protection Agency ◽  
Asbestos Fibers ◽  
Different Types ◽  
Binder Material ◽  
Scanning Electron

The United States Environmental Protection Agency (EPA) has labeled as “friable” those building materials that are likely to readily release fibers. Friable materials when dry, can easily be crumbled, pulverized, or reduced to powder using hand pressure. Other asbestos containing building materials (ACBM) where the asbestos fibers are in a matrix of cement or bituminous or resinous binders are considered non-friable. However, when subjected to sanding, grinding, cutting or other forms of abrasion, these non-friable materials are to be treated as friable asbestos material. There has been a hypothesis that all raw asbestos fibers are encapsulated in solvents and binders and are not released as individual fibers if the material is cut or abraded. Examination of a number of different types of non-friable materials under the SEM show that after cutting or abrasion, tuffs or bundles of fibers are evident on the surfaces of the materials. When these tuffs or bundles are examined, they are shown to contain asbestos fibers which are free from binder material. These free fibers may be released into the air upon further cutting or abrasion.

Municipal Wastewater Treatment Technology Transfer Activities of the United States Environmental Protection Agency

1989 ◽  
Vol 21 (6-7) ◽  
pp. 685-698
Author(s):  
J. J. Convery ◽  
J. F. Kreissl ◽  
A. D. Venosa ◽  
J. H. Bender ◽  
D. J. Lussier
Keyword(s):  
Technology Transfer ◽  
Environmental Protection ◽  
Case Studies ◽  
Environmental Protection Agency ◽  
The United States ◽  
Environmental Research ◽  
Outreach Program ◽  
Small Community ◽  
Protection Agency ◽  
Transfer Programs

Technology transfer is an important activity within the ll.S. Environmental Protection Agency. Specific technology transfer programs such as the activities of the Center for Environmental Research Information, the Innovative and Alternative Technology Program, as well as the Small Community Outreach Program are used to encourage the utilization of cost-effective municipal pollution control technology. Case studies of three technologies including a plant operations diagnostic/remediation methodology, alternative sewer technologies and ultraviolet disinfection are presented. These case studies are presented retrospectively in the context of a generalized concept of how technology flows from science to utilization which was developed in a study by Allen (1977). Additional insights from this study are presented on the information gathering characteristics of engineers and scientists which may be useful in designing technology transfer programs. The recognition of the need for a technology or a deficiency in current practice are important stimuli other than technology transfer for accelerating the utilization of new technology.

THE INCEPTION AND EVOLUTION OF FINANCIAL REPORTING IN THE PROTESTANT EPISCOPAL CHURCH IN THE UNITED STATES OF AMERICA

1986 ◽  
Vol 13 (2) ◽  
pp. 55-63 ◽  
Author(s):  
G. A. Swanson ◽  
John C. Gardner
Keyword(s):  
United States ◽  
Financial Reporting ◽  
United States Of America ◽  
The United States ◽  
Episcopal Church ◽  
For Profit ◽  
Not For Profit ◽  
The Church

This research documents the emergence of accounting procedures and concepts in a centrally controlled not-for-profit organization during a period of change and consolidation. The evolution of accounting as prescribed by the General Canons is identified and its implementation throughout the church conferences is examined.

A CHRONOLOGY OF THE DEVELOPMENT OF CORPORATE FINANCIAL REPORTING IN CANADA: 1850 TO 1983

1986 ◽  
Vol 13 (1) ◽  
pp. 31-62 ◽  
Author(s):  
George J. Murphy
Keyword(s):  
Financial Reporting ◽  
The United States ◽  
Company Law ◽  
Economic Relationships ◽  
Professional Activities ◽  
Financial Reporting Standards ◽  
Significant Events ◽  
Canadian Institute ◽  
Chartered Accountants ◽  
Corporate Financial Reporting

A chronology of significant events in the development of corporate financial reporting standards and practices is presented. The introductory comments to the various sections direct attention to some of the main patterns and trends in that development and provide the framework in which the listing of events is to be interpreted. The particularly significant domestic sources of influence are the legislative and professional activities in Ontario and, in more recent times, the activities of the Canadian Institute of Chartered Accountants. External influences have been—not unexpectedly—the traditions of English Company law and the close professional, institutional and economic relationships with the United States. Some internationally significant developments unique to Canada are indicated.

Auditor Independence in the United States: Cornerstone of the Profession or Thorn in Our Side?

2018 ◽  
Vol 32 (3) ◽  
pp. 145-168 ◽  
Author(s):  
Bryan K. Church ◽  
J. Gregory Jenkins ◽  
Jonathan D. Stanley
Keyword(s):  
United States ◽  
Financial Reporting ◽  
The United States ◽  
Auditor Independence ◽  
Audit Committees ◽  
Systematic Evaluation ◽  
Client Relationships ◽  
Reporting Process ◽  
Regulatory Approach

SYNOPSIS The objective of this paper is to provide a systematic evaluation of independence as a foundational element of the auditing profession. We maintain that while independence is a theoretically appealing construct, it is fraught with practical problems surrounding its implementation, monitoring, and regulation. We analyze the current oversight of auditor independence and evaluate the need for auditor independence from the perspective of information users and information producers. In the process, we discuss important implications and intractable challenges that affect one or more parties involved in the financial-reporting process. Finally, we carefully evaluate alternatives to the current regulatory approach for managing auditor independence (i.e., proscribing various auditor-client relationships). We conclude that increasing audit committees' responsibilities for monitoring the auditor's independence—along with additional disclosure about threats and safeguards to auditor independence—is worthy of further consideration and debate as a path toward addressing the auditor independence conundrum.

Health risk assessment of occupational exposure to heavy metals in a steel casting unit of a steelmaking plant using Monte–Carlo simulation technique

2021 ◽  
pp. 074823372110195
Author(s):  
Fatemeh Dehghani ◽  
Fariborz Omidi ◽  
Reza Ali Fallahzadeh ◽  
Bahman Pourhassan
Keyword(s):  
Heavy Metals ◽  
Occupational Exposure ◽  
Environmental Protection Agency ◽  
Steel Casting ◽  
Occupational Safety ◽  
The United States ◽  
Control Measures ◽  
Monte Carlo Simulation Technique ◽  
Safety And Health ◽  
Casting Unit

The present work aimed to evaluate the health risks of occupational exposure to heavy metals in a steel casting unit of a steel plant. To determine occupational exposure to heavy metals, personal air samples were taken from the workers’ breathing zones using the National Institute for Occupational Safety and Health method. Noncancer and cancer risks due to the measured metals were calculated according to the United States Environmental Protection Agency procedures. The results indicated that the noncancer risks owing to occupational exposure to lead (Pb) and manganese were higher than the recommended value in most of the workstations. The estimated cancer risk of Pb was also higher than the allowable value. Moreover, the results of sensitivity analysis indicated that the concentration, inhalation rate, and exposure duration were the most influencing variables contributing to the calculated risks. It was thus concluded that the present control measures were not adequate and further improvements were required for reducing the exposure levels.

scholarly journals Picking Up Where the TMDL Leaves Off: Using the Partnership Wild and Scenic River Framework for Collaborative River Restoration

2021 ◽  
Vol 13 (4) ◽  
pp. 1878
Author(s):  
Alan R. Hunt ◽  
Meiyin Wu ◽  
Tsung-Ta David Hsu ◽  
Nancy Roberts-Lawler ◽  
Jessica Miller ◽  
...  
Keyword(s):  
Water Quality ◽  
Environmental Protection Agency ◽  
Bacterial Contamination ◽  
Resource Constraints ◽  
Clean Water Act ◽  
The United States ◽  
Clean Water ◽  
Private Land ◽  
The Public ◽  
Wild And Scenic Rivers

The National Wild and Scenic Rivers Act protects less than ¼ of a percent of the United States’ river miles, focusing on free-flowing rivers of good water quality with outstandingly remarkable values for recreation, scenery, and other unique river attributes. It predates the enactment of the Clean Water Act, yet includes a clear anti-degradation principle, that pollution should be reduced and eliminated on designated rivers, in cooperation with the federal Environmental Protection Agency and state pollution control agencies. However, the federal Clean Water Act lacks a clear management framework for implementing restoration activities to reduce non-point source pollution, of which bacterial contamination impacts nearly 40% of the Wild and Scenic Rivers. A case study of the Musconetcong River, in rural mountainous New Jersey, indicates that the Wild and Scenic Rivers Act can be utilized to mobilize and align non-governmental, governmental, philanthropic, and private land-owner resources for restoring river water quality. For example, coordinated restoration efforts on one tributary reduced bacterial contamination by 95%, surpassing the TMDL goal of a 93% reduction. Stakeholder interviews and focus groups indicated widespread knowledge and motivation to improve water quality, but resource constraints limited the scale and scope of restoration efforts. The authors postulate that the Partnership framework, enabled in the Wild and Scenic Rivers Act, facilitated neo-endogenous rural development through improving water quality for recreational usage, whereby bottom-up restoration activities were catalyzed via federal designation and resource provision. However, further efforts to address water quality via voluntary participatory frameworks were ultimately limited by the public sector’s inadequate funding and inaction with regard to water and wildlife resources in the public trust.

scholarly journals Assessing clarity of message communication for mandated USEPA drinking water quality reports

2015 ◽  
Vol 14 (2) ◽  
pp. 223-235 ◽  
Author(s):  
Katherine Phetxumphou ◽  
Siddhartha Roy ◽  
Brenda M. Davy ◽  
Paul A. Estabrooks ◽  
Wen You ◽  
...  
Keyword(s):  
Water Quality ◽  
Drinking Water ◽  
Environmental Protection Agency ◽  
Water System ◽  
System Size ◽  
The United States ◽  
National Sample ◽  
Evaluation Tool ◽  
Index Index ◽  
State Of The Science

The United States Environmental Protection Agency mandates that community water systems (CWSs), or drinking water utilities, provide annual consumer confidence reports (CCRs) reporting on water quality, compliance with regulations, source water, and consumer education. While certain report formats are prescribed, there are no criteria ensuring that consumers understand messages in these reports. To assess clarity of message, trained raters evaluated a national sample of 30 CCRs using the Centers for Disease Control Clear Communication Index (Index) indices: (1) Main Message/Call to Action; (2) Language; (3) Information Design; (4) State of the Science; (5) Behavioral Recommendations; (6) Numbers; and (7) Risk. Communication materials are considered qualifying if they achieve a 90% Index score. Overall mean score across CCRs was 50 ± 14% and none scored 90% or higher. CCRs did not differ significantly by water system size. State of the Science (3 ± 15%) and Behavioral Recommendations (77 ± 36%) indices were the lowest and highest, respectively. Only 63% of CCRs explicitly stated if the water was safe to drink according to federal and state standards and regulations. None of the CCRs had passing Index scores, signaling that CWSs are not effectively communicating with their consumers; thus, the Index can serve as an evaluation tool for CCR effectiveness and a guide to improve water quality communications.

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