Mar 8 2018
Bunker Hill Mining Corp. (“Bunker Hill” or the “Company”) is pleased to report that the United States Environmental Protection Agency (“EPA”), and the United States Department of Justice, have signed an agreement with Bunker Hill, allowing the Company or any subsidiary entities to operate the Bunker Hill Zinc, Lead, and Silver Mine without incurring liability for hazardous substances, pollutants or contaminants that migrated from the Mine in the past.
Specifically, Bunker Hill’s agreement with the United States, titled “Settlement Agreement and Order on Consent for Response Action”, in part, provides for the following:
Major obligations of Bunker Hill
- Payment to the EPA over a seven year period totalling US$20M for as long as Bunker Hill leases, owns and/or operates the Mine (payments are on behalf of the current owner/lessor for the EPA’s prior response costs as contemplated by the lease/option on the Mine);
- Semi-annual payments to the EPA of US$480,000 for ongoing water treatment costs incurred at the EPA’s Central Treatment Plant;
- Specified ongoing maintenance work on mine infrastructure to allow for proper management of mine effluent.
Major obligations of the United States
- The United States covenants not to sue Bunker Hill for prior contamination migrating from the mine;
- The EPA agrees not to enforce any lien it may have on the mine so long as Bunker Hill is in compliance with its payment and maintenance work obligations;
- The EPA agrees to release any lien it may have on the the mine upon the completion of Bunker Hill’s maintenance work and payment obligations.
The Settlement Agreement is subject to a 14 day public comment period, after which it will become effective.
Stated Bruce Reid, President & CEO of Bunker Hill: “This agreement with the United States EPA and Department of Justice provides Bunker Hill or a subsidiary with the ability to operate the Bunker Hill Mine. We can now accelerate the work required to re-open the mine. We will work together with the EPA to operate the mine in a way that will provide economic benefits for the local community in an environmentally prudent fashion.”