Emsource Blue Hill LLC - An Emsource Risk Transfer Project

PROJECT PROFILE
Client: Kerramerican, Inc.
Location: Blue Hill, ME
Cost Range: $8-13 Million

Client Objectives:

• Cap all management, remediation and long term maintenance costs associated with a former mine site in Blue Hill, ME
• Transfer environmental liability and management responsibility to Emsource, the entity responsible for regulatory compliance
• Cap the financial risk of cost overruns and insure against regulatory uncertainty.
• Obtain a liability release in a consent decree entered in federal court with the Maine DEP
• Pursue cost recovery from other PRPs
• Dissolve Kerramerican knowing that all future environmental obligations will be honored and managed.

RISK TRANSFER PROGRAM
Category: Mining
Risk transfer mechanism: Consent Decree entered in Federal District Court governs cleanup of former mine site. Decree releases Client and transfers obligations to Emsource Blue Hill LLC.
Project Insurance Program:Comprehensive Environmental Insurance Program blending Remediation Stop Loss and Pollution Legal Liability Cover.

 
Emsource Blue Hill Project Team:

• Project manager: Outcome Engineering
• Environmental Engineers: Sevee & Maher
• Geologists: C.A. White & Associates
• Remediation Construction: R.F. Jordan
• Project Surveyor: Herrick & Salsbury
• Environmental Insurance: Chartis Environmental
• Trust Fund Administrator: TD Banknorth Wealth Management
• Legal Advisors: Verrill Dana
• Regulatory Oversight: Maine DEP