Common use of Termination of Mining Clause in Contracts

Termination of Mining. The Manager may, at any time following a period of at least ninety (90) days during which Mining Operations have been suspended, upon at least thirty (30) days notice to all Participants, or in the events described in Section 22.1, recommend that the Management Committee approve the permanent termination of Mining Operations. The Manager’s recommendation will include a plan and budget (in this Article XXII called the “Mine Closure Plan”), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Manager’s recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.

Termination of Mining. The Manager may, at any time following a period of at least ninety (90) days during which Mining Operations have been suspended, upon at least thirty (30) days days’ notice to all Participants, or in conjunction with the events described in Section 22.1, recommend that the Management Committee approve the permanent termination of Mining Operations. The Manager’s recommendation will include a plan and budget (in this Article XXII called the “Mine Closure Plan”), in reasonable detail, of the activities to be performed to close the Mine and reclaim and rehabilitate the Property, as required by applicable law, regulation or contract by reason of this Agreement. The Management Committee may, by unanimous approval of the representatives of all Participants, approve the Manager’s recommendation with such changes to the Mine Closure Plan as the Management Committee deems necessary.