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Dodd-Frank Act Disclosure Rules for Extractive Industries Effective August 20

Finance & Acquisitions Alert

The Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Act"), signed into law by President Obama on July 21, 2010, contains new disclosure requirements for mine operators, "resource extraction issuers," and users of "conflict minerals" originating in the Democratic Republic of the Congo.

Periodic Report Requirement for Mine Operators Is Effective Today

Section 1503 of the Act requires any public company that operates a mine, directly or through a subsidiary, to make new mine safety disclosures in each periodic report (quarterly or annual) that it files with the Securities and Exchange Commission (the "SEC") after August 20, 2010, for the time period covered by such report. The mine safety disclosures include the total number (by category) of certain violations of the Federal Mine Safety and Health Act of 1977 and citations and orders issued by the U.S. Mine Safety and Health Administration ("MSHA"), including "significant and substantial" and unwarrantable failure citations and orders.

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Authors: John Elofson and Ryan McGee

DGS Attorneys Top “Best Lawyers” List in Colorado

The newly announced, 2011 edition of the Best Lawyers in America ranks Davis Graham & Stubbs LLP first in Colorado-based law practices for corporate governance and compliance law, environmental law, mergers and acquisitions law, natural resources law, oil and gas law and securities law.

This year Best Lawyers recognizes 36 DGS attorneys, including 13 who have been named to the list for at least 10 years. Nearly half (46 percent) of DGS partners are recognized in the definitive guide to legal excellence, in addition to several attorneys of counsel to the firm. Best Lawyers is a peer-review survey of more than 39,000 in-house counsels and private practice attorneys.

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U.S. EPA Releases Final Rule Requiring Mandatory Reporting of Greenhouse Gas Emissions from Underground Coal Mines, Industrial Wastewater Treatment Facilities, Industrial Waste Landfills and Magnesium Production

Environmental Alert

On January 1, 2010, the U.S. Environmental Protection Agency's Mandatory Reporting of Greenhouse Gases Rule (MRR), 40 CFR Part 98, went into effect, requiring roughly 10,000 facilities from 11 source categories to annually report their greenhouse gas (GHG) emissions. EPA first proposed the MRR in April 2009, and received a substantial number of comments from a wide range of industries subject to reporting under the proposed rule. In the final MRR, published in the October 30, 2009, Federal Register, the EPA did not provide reporting requirements for a number of industry sectors, choosing instead to delay finalizing the reporting requirements for certain sectors in order to further review public comments and perform additional analyses. EPA has since been busy promulgating additional Subparts of the MRR for specific industry sectors, including those recently finalized and discussed below.

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Authors: John Jacus and Ben Kass