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A steering committee, composed of members of the executive leadership team, reviews performance and progress toward targets every quarter. A cross-functional closure working group CWG ensures compliance with applicable standards and performs the annual site closure reviews, and the multidisciplinary regional Closure and Reclamation Technical Teams CRTT plan and implement closure activities at the site level.
The CWG and CRTTs participate in annual global workshops that raise awareness, recognize areas of improvement, and provide opportunities to share best practices and lessons learned.
All sites must develop and maintain a closure and post-closure strategy that encompasses risk assessments, stakeholder engagement plans, and closure and reclamation plans that are integrated into the annual mine planning process. The strategies must also include concurrent reclamation plans that involve reclaiming inactive disturbed areas alongside current operations through planting vegetation, controlling erosion and planning for final land use.
Every year, we conduct in-depth technical reviews of closure plans at three to four sites. Site selection, which is based on proximity to closure, length of time since the last review and other risks, is approved by the steering committee.
Another important element of our strategy is the ongoing management of 15 legacy sites. These include closed mine sites we acquired as a result of a larger acquisition as well as sites we once operated but have since ceased mining. We commit to safely and responsibly manage, decommission and rehabilitate these sites so they pose no threat to the environment or people and can be repurposed when possible for optimal post-mining use.
To effectively manage our closure risks, we set annual targets for concurrent reclamation, which reduces the size of our impact, minimizes acid rock drainage and other environmental impacts, and reduces bonding obligations. In addition to accruing funds for reclamation costs related to current operations, we also have environmental obligations associated with our legacy sites that require remediation plans.
Globally, we completed concurrent reclamation on hectares during , and achieved our public target to complete 90 percent of planned reclamation activities across the Company.
All sites met or exceeded their target to complete planned closure and reclamation activities for During the year, an additional hectares globally were disturbed by our operations, and a total of 5, hectares are in various stages of reclamation. All sites completed annual closure estimate reviews and commenced closure risk assessments.
Land reclamation and remediation
The reviews, which included a focus on concurrent reclamation, found overall improvement in cost estimates. We continued our focus on aligning the annual business planning and closure planning cycles, strengthening governance, meeting our public reclamation target, and improving our ability to address findings from closure plan reviews. We regularly explore opportunities to extend the mine life at all our operations. In , our Lone Tree site in Nevada entered the closure phase, and — based on current metal prices and our business plan — Emigrant Nevada will enter closure in and Akyem Ghana and Long Canyon Nevada are within five years of their expected closure date.
However, mine life extensions for all of these sites, including Lone Tree, are under review and monitored closely should closure planning, including community engagement, need to accelerate. Much of the focus in was on maturing our mine closure and reclamation approach through the development of a new integrated mine lifecycle closure planning strategy.
The strategy reflects input from key functions, regions and sites as well as from executives on the closure steering committee and members of the cross-functional closure working group. Subject to subclause II , effective beginning January 1, , in addition to the funding made available under clause i , if in the judgment of the Secretary on an annual basis a sufficient amount of funding is not otherwise available through annual appropriations, the Secretary shall expend from the Fund such amounts on an annual basis consistent with paragraphs 1 and 2 , as are necessary to pay the Federal share of the remaining costs of implementing the Indian water rights settlement agreements entered into by the State of New Mexico in the Aamodt adjudication and the Abeyta adjudication, if such settlements are subsequently approved and authorized by an Act of Congress and the implementation period has not already expired.
Treasury ACH Reclamation
The limitation on the expenditure amount under item aa may be exceeded during the entire period in which the Fund is in existence if such additional funds can be expended without limiting the amounts identified in clause i , ii , and iv. The Secretary shall ensure that any funding under this clause shall be provided in a manner that does not limit the funding available pursuant to clauses i and ii. Subject to subclause II , effective beginning January 1, , in addition to funding made available pursuant to clauses i , ii , and iii , if in the judgment of the Secretary on an annual basis a sufficient amount of funding is not otherwise available through annual appropriations, the Secretary shall expend from the Fund such amounts on an annual basis consistent with paragraphs 1 and 2 , as are necessary to pay the Federal share of the remaining costs of implementing an Indian water rights settlement agreement entered into by the State of Arizona with the Navajo Nation to resolve the water rights claims of the Nation in the Lower Colorado River basin in Arizona, if a settlement is subsequently approved and authorized by an Act of Congress and the implementation period has not already expired.
The limitation on the expenditure amount under item aa may be exceeded during the entire period in which the Fund is in existence if such additional funds can be expended without limiting the amounts identified in clauses i through iii. If the settlements described in clauses ii through iv of subparagraph B have not been approved and authorized by an Act of Congress by December 31, , the amounts reserved for the settlements shall no longer be reserved by the Secretary pursuant to subparagraph A i and shall revert to the Fund for any authorized use, as determined by the Secretary.
The Secretary shall invest such portion of the Fund as is not, in the judgment of the Secretary , required to meet current withdrawals. The interest on, and the proceeds from the sale or redemption of, any obligations held in the Fund shall be credited to, and form a part of, the Fund.
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The amounts required to be transferred to the Fund under this section shall be transferred at least monthly from the general fund of the Treasury to the Fund on the basis of estimates made by the Secretary of the Treasury. Proper adjustment shall be made in amounts subsequently transferred to the extent prior estimates were in excess of or less than the amounts required to be transferred. Section e 1 A ix , referred to in subsec.
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