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calculated with Bond Release No. 1 (SL-01) to be $12,039,262.00. The Division did not approve <br />any additional revisions to the Bowie No. 2 Mine permit after the reclamation cost estimate <br />associated with this SL-01 application. Therefore, the determination of maximum release amounts <br />is based on a total of $12,039,262.00. <br /> <br />Table 1 <br />SL-02 (12.27 acres)Total (404.22 acres) <br />Phase I - 60%$218,873.77 $7,223,557.20 <br />Phase II - 25 %$91,197.40 $3,009,815.50 <br />Phase III - 15%$54,718.44 $1,805,889.30 <br />Total $364,789.61 $12,039,262.00 <br />Maximum Bond Release Amounts per Rule <br /> <br />Table 2 <br /> <br />Proposed <br />Released Acres <br />% of <br />Acreage <br />Phase I $218,873.77 12.27 3.03% <br />Phase II $0.00 0.000 0.00% <br />Phase III $0.00 0.00 0.00% <br />Total $218,873.77 <br />Eligible for Release Under SL-02 <br /> <br /> <br />The eligible bond release amount identified in Table 2 is the maximum amount eligible for release <br />per Rule 3.03.1(2). Per Rule 3.03.1(3)(d), the Division cannot 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 />The Division presently holds five bonds totaling $10,971,057.58. Based on the Division’s review, <br />the Division must retain a minimum of $10,101,224.38 following the approval of SL-02. A site <br />wide reclamation cost estimate for the Bowie No. 2 Mine was updated with the 2016 RN-04 <br />application (not yet approved), with the total reclamation liability amount prior to the approval of <br />SL-02 of $10,320,098.15. The current required liability for the Bowie No. 2 Mine is <br />$10,561,142.28 (TR-108). Accordingly, the proposed release amount for this SL-02 is $459,917.90 <br />($10,561,142.28 - $10,101,224.38). The $459,917.90 is more than the eligible bond release amount <br />of $218,873.77; however, the actual Phase I release amount to be approved with SL-02 is <br />$218,873.77, with the additional amount ($241,044.13) being associated with the lower costs <br />identified during the 2016 RN-04 RCE update. The remaining $10,101,224.38 is sufficient to <br />assure completion of the remaining reclamation work at the site if the work had to be performed by <br />the Division, including the cost of reestablishing vegetation on any revegetated areas, should those <br />areas fail (Rule 3.03.1(3)(a) and 3.01.3(3)(d)). <br /> <br /> <br /> <br /> <br />