Document Type
Article
Publication Date
7-2004
Volume
Report 1
Recommended Citation
Repetto, Robert, "Silence is Golden, Leaden, and Copper" (2004). Yale School of the Environment Publications Series. 25.
https://elischolar.library.yale.edu/fes-pubs/25
Comments
The requirements applicable to hard rock mining companies listed on U.S. or Canadian stock exchanges for financial disclosure of material environmental information are summarized. Ten financially material environmental events that occurred to ten such mining companies in recent years are reviewed to explore to what extent the companies had complied with such requirements. These events included dam failures, increases in remediation liabilities, increased bonding requirements, and other environmentally-related changes. The most common shortcomings in disclosure were found in the failure of the Management Discussion & Analysis section of company financial reports to disclose material risks and uncertainties known to management which were likely to result in material changes in financial conditions and results.