|
Table 1
<br />SL-01 (82.93 acres)Total (410.03 acres)
<br />Phase I - 60%$1,460,603.26 $7,223,557.20
<br />Phase II - 25 %$608,584.69 $3,009,815.50
<br />Phase III - 15%$365,150.81 $185,889.30
<br />Total $2,434,338.76 $12,039,262.00
<br />Maximum Bond Release Amounts per Rule 3.03.1(2)
<br />
<br />Table 2
<br />
<br />Proposed
<br />Released Acres
<br />% of
<br />Acreage
<br />Phase I $1,460,603.26 82.93 20.22%
<br />Phase II $332,652.39 45.33*11.05%
<br />Phase III $18,038.45 4.1*1.00%
<br />Total $1,811,294.10
<br />Eligible for Release Under SL-01
<br />*(45.33 acres=54.66% of 82.93 acres and 4.1 acres=4.94%
<br />of 82.93 acres)
<br />
<br />
<br />The eligible bond release amounts identified in Table 2 are the maximum amounts eligible for
<br />release per Rule 3.03.1(2). Per Rule 3.03.1(3)(d), the Division shall not release any amount under
<br />performance bonds applicable to a permit if such release would reduce the total remaining amount
<br />to an amount less than that necessary for the Division to complete the approved reclamation plan.
<br />Based on the Division’s review, the Division will retain a minimum of $10,606,843.82. A site wide
<br />reclamation cost estimate for the Bowie No. 2 Mine was updated with the SL-01 application, with
<br />the total reclamation liability amount prior to the approval of SL-01 is $12,039,262.00. The current
<br />required liability for the Bowie No. 2 Mine is $12,082,485.85. Accordingly, the proposed release
<br />amount for this SL-01 is $1,475,642.03 ($12,082,485.85- $10,606,843.82). The $1,475,642.03 is
<br />less than the eligible bond release amount of $1,811,294.10. The remaining $10,606,843.82 is
<br />sufficient to assure completion of the remaining reclamation work at the site if the work had to be
<br />performed by the Division, including the cost of reestablishing vegetation on any revegetated areas,
<br />should those areas fail (Rule 3.03.1(3)(a) and 3.01.3(3)(d)).
<br />
<br />Table 3
<br />
<br />Initial Liability Total
<br />SL-01 Sitewide RCE $12,039,262.00
<br />Surity Releases to Date Acres Amount Acres Amount Acres Amount
<br />SL-01 82.93 $1,460,603.26 45.33 $332,652.39 4.10 $18,038.45
<br />Total*82.93 $1,460,603.26 45.33 $332,652.39 4.10 $18,038.45
<br />Bowie No. 2 Mine (C-1996-083) Bond Release History
<br />Phase I Phase II Phase III
<br />*a total of $1,811,294.10 is eligible for release; however, per Rule 3.03.3(d) only $1,475,843.82 was released under
<br />SL-01
|