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Fariz A. Guliyev: The economics of financial securities for environmental obligations and
their impact in royalty revenues from Alberta oil sands in North America
3. Determine the list of near end of life reserve mines and impose specific limitations on
the use of QETs for such mine projects.
As commodity prices fluctuate unstably and current mine reserves become less recoverable
sharp decreases in royalty reductions may turn out to be unavoidable in near time horizon.
6. References
[1] Alberta Environment 2011, Guide to Mine Financial Security Program. Alberta
Environment, Edmonton, Alberta. 5-18 and 20-24
http://environment.alberta.ca/documents/MFSP_Guide_-_2011_03_30.pdf
[2] Oil Sands Development and Reclamation. Alberta Environment and Sustainable Resource
Development. http://environment.alberta.ca/02863.html
[3] Oil Sands Royalty Regulation, 2009. Mines and Minerals Act. 3
pp.http://www.qp.alberta.ca/documents/Regs/2008_223.pdf [Last accessed March 30, 2013]
[4] Alberta Oil Sands Royalty Guidelines October 11, 2011. Principles and Procedures. 4.2-4.4
http://www.energy.alberta.ca/OilSands/pdfs/Royalty_Guidelines.pdf [Last accessed March 30, 2013]
[5] The World Bank 2006. Mining Royalties. A Global Study of Their Impact on Investors,
Government, and Civil Society. /James Otto… [et al.]. 89-97
http://siteresources.worldbank.org/INTOGMC/Resources/3360991156955107170/miningroyaltiespu
blication.pdf [Last accessed March 30, 2013]
[6] Natural Resources Canada 2011. Information Bulletin 2011. Taxation of Mineral Income
2012 – How Canada Compares http://www.nrcan.gc.ca/minerals-metals/business-
market/4048#figure2 [Last accessed March 30, 2013]
[7] Dixon R., Maier M., Sandilya A., and Schneider T., Qualifying Environmental Trusts as
Financial Security for Oil Sands Reclamation Liabilities University of Alberta, Edmonton,
Alberta.1-4 and 11-15.
[8] Fred McMahon and Miguel Cervantes 2012 Survey of Mining Companies 2011/2012. Fraser
Institute. 33-34 and 88-93 http://www.fraserinstitute.org/uploadedFiles/fraser-ca/ Content/
research-news/research/publications/mining-survey-2011-2012.pdf
[9] COSIA’s Land Environmental Priority Area (EPA). Canada’s Oil Sands Innovation Alliance.
http://www.cosia.ca/projects/land [Last accessed March 30, 2013]
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