Uranium Mine Closure

Members of our team helped Dawn Mining Company (a former subsidiary of Newmont Mining) develop and approve a self-funding closure plan at its uranium mine in Ford, Washington. The plan assured environmental protection, safeguarded nearby residents, and saved the company millions of dollars.

The Challenge: As uranium prices plunged in the early 1990's, Dawn Mining Company faced steep financial losses that forced it to suspend operations permanently. After losing millions of dollars, the company did not have the resources to close, remediate and manage the site in an environmentally responsible way.

The Solution: Members of our team developed a plan to generate funds for the closure and to prevent the liability for the closure from being assumed by the parent company—Newmont Mining. To accomplish this, Dawn Mining had to convince Washington State regulators to approve a plan that would allow the mining company to sell unused space in its licensed disposal area for low-level radioactive waste from other sites across the nation. At the time, there was a shortage of licensed disposal facilities in the United States.

The Result: After building support from neighboring communities and other stakeholders, the company proposed its plan to the State of Washington. Dawn convinced state regulators that this plan represented the best way to expedite closure and remediation of the site, which would safeguard the health and safety of nearby communities. This plan also was positioned as representing the best interest of the nation, since there was not enough space in licensed disposal areas for low-level radioactive waste that needed to be safely disposed of across the nation. The plan was approved, which allowed Dawn to begin soliciting contracts for disposal services. By turning this liability into an asset again, Newmont Mining proceeded to sell the entire site to preserve shareholder value.

 

 

 

 

 

 

 

 

 

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