U.S. Securities and Exchange Commission Adopts Dodd-Frank Mine Safety Rules
26 January 2012
Mayer Brown Legal Update
Section 1503 of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires all issuers that are operators, or that have a subsidiary that is an operator, of a coal or other mine, as defined under the Federal Mine Safety and Health Act of 1977 (MSHA), to make mine safety disclosures in periodic reports filed with the Securities and Exchange Commission. MSHA defines “operator” to include the operator, supervisor or controller of a mine (along with independent contractors performing services at such mine) and defines “coal or other mine” to include any site located in the United States, and certain appurtenant areas such as roads, from which non-liquid minerals are extracted or from which liquid minerals are extracted with workers underground.