15. (1) For the purpose of the corporate financial tests, “credit rating” means a corporate credit rating or, in the absence of such a rating, a debt rating on a proponent’s most senior debt instrument having a term of at least five years; “life of a mine” means the projected length of time that a project will be in mine production, be processing mineral products resulting from mine production or the active placement of tailings; “proven and probable reserves” means reserves of ore that have been determined in accordance with the standards for determining such reserves found in Canadian Securities Administrators’ National Instrument 43-101.  O. Reg. 240/00, s. 15 (1); O. Reg. 194/06, s. 4 (1). (2) Subsections (3), (4), (5) and (6) apply for the purpose of the definition of “life of a mine”.  O. Reg. 240/00, s. 15 (2). (3) The life of a mine begins on the date on which the closure plan for the rehabilitation of the project is filed or deemed to have been filed.  O. Reg. 240/00, s. 15 (3). (4) Subject to subsections (4.1) and (4.2), the life of a mine is calculated with reference to, (a) the proven and probable reserves at the site; (b) the planned production schedules referred to in the closure plan; and (c) the mine development period referred to in the closure plan.  O. Reg. 240/00, s. 15 (4); O. Reg. 194/06, s. 4 (2). (4.1) For those projects, located on their own site, that process mineral products resulting from mine production such as but not limited to refining, smelting or milling, the life of a mine is calculated with reference to total feed dedicated to the processing facility over the life of the contributing mines divided by the annual production schedule if, (a) at least two thirds of mined material supplied to the processing facility during the proponent’s fiscal year came from the proponent’s proportioned share of mined material from mines in which it has an ownership interest; and (b) at least one third of mined material supplied to the processing facility during the proponent’s fiscal year came from the proponent’s proportioned share of mined material from Ontario mines.  O. Reg. 194/06, s. 4 (3). (4.2) For those projects that are located on their own site and consist of the active placement of tailings, the life of the mine is calculated with reference to total feed dedicated to the processing facility producing the tailings over the life of all the proponent’s contributing mines divided by the annual production schedule of the processing facility if, (a) at least two thirds of mined material supplied to the processing facility during the proponent’s fiscal year came from the proponent’s proportioned share of mined material from mines in which it has an ownership interest; and (b) at least one third of mined material supplied to the processing facility during the proponent’s fiscal year came from the proponent’s proportioned share of mined material from Ontario mines.  O. Reg. 194/06, s. 4 (3). (5) Subject to subsection (6), if some of the operations mentioned in subsection (4) are carried out on mined material received from other projects, the life of the mine is calculated by prorating the proven and probable reserves and the planned production schedules for all projects providing material to those operations.  O. Reg. 240/00, s. 15 (5). (6) Subsection (5) does not apply for the calculation of the life of a mine unless the following conditions are met: 1. At least two-thirds of mined material supplied to a project during the proponent’s fiscal year came from the proponent’s proportioned share of mined material from mines in which they have an ownership interest. 2. At least one-third of mined material supplied to a project during the proponent’s fiscal year came from the proponent’s proportioned share of mined material from Ontario mines.  O. Reg. 240/00, s. 15 (6); O. Reg. 282/03, s. 4.