Section 30: Deductibility of Environmental Costs.

A tax deductible reserve for environmental protection, mine rehabilitation, reclamation and mine closure costs shall be established by companies engaged in the exploitation of mineral resources; provided however, that the appropriateness of the reserve is certified by an independent qualified person taking into account the determination made under the provisions of this Act-(a) the reserve is recorded in the audited financial statements of the companies;
(b) tax deductibility will be restricted to actual amount incurred for the purpose of the reclamation ; and
(c) a sum equivalent to the reserve amount is set aside every year and invested in dedicated account or trust fund managed by independent trustees appointed pursuant to the provisions of the Act.