The Ministry of Environment has initiated a public consultation on the draft Regulation on Financial Guarantee for Environmental Restoration in Mineral Resources Development. The purpose of the new regulation is to implement the provisions of the Subsoil Code No. 246/2024, which will enter into force on May 29, 2026. It will provide a regulatory framework for the process of environmental remediation after mining operations.
According to the project, the financial guarantee mechanism can be activated through the establishment of an appropriate fund and contribution of funds by market operators. The fund will be opened by the competent authority in the field of use and protection of subsoil, and the guarantee will represent the equivalent of the cost of all works to restore the environment affected by mining activities.
Subject to the approval of the document as revised by the authors, the amount of the financial guarantee will be set according to a cost estimate drawn up by a certified specialist professionally qualified to design special structures – mines and quarries. It will be calculated on the basis of an environmental remediation plan and/or a mining waste management plan.
The creation of the guarantee will be carried out in the Financial Guarantee Fund for Environmental Rehabilitation, established within the State budget. This will be done by transferring the relevant amounts to an account opened with the State Treasury.
The transfer of the guarantee for the first year of subsoil exploitation from the date of entry into force of the regulation will be made before the issuance of the relevant permit, and for subsequent years – before the approval of the annual mining development plan by the competent authority. The funds in the accounts will not be subject to enforcement proceedings against the account holder, nor can they be pursued or included in the debtor’s estate in case of insolvency.
If the holder of the subsoil use permit fails to fulfill its legal obligations for environmental remediation, the funds of the financial guarantee will remain in the administration of the competent authority in the field of subsoil use and protection.
