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Final Compensatory Mitigation and Monitoring Plan—Version 2.0 <br />Climax Mine Overburden Storage Facility Expansion (SPK-2013-00045) <br />March 2017 Bikis Water Consultants, a division of SGM Page 26 <br />Of specific relevance to the Lake Irwin mitigation site, paragraph 6.1.4 of the decree includes a <br />formula for calculating monthly evaporation losses from wet beach and shallow pool areas, with <br />the acreage subject to monthly updates as the actual areas change. <br />Climax is seeking concurrence from the Colorado Division of Water Resources (CDWR) that it <br />can adjust the monthly water rights reporting to include the additional area of evaporation from <br />the Lake Irwin mitigation site at the Robinson Tailing Storage Facility. A copy of the letter <br />requesting concurrence in applying and reporting Climax water rights for the mitigation site is in <br />Appendix E. <br />15.0 MITIGATION COST AND FINANCIAL ASSURANCE <br />The estimated cost for constructing each mitigation phase is shown in Table 5. <br />Table 5.Mitigation Site Cost Estimate <br />Financial assurance will be provided as each mitigation phase is needed. It is anticipated that <br />Climax will provide a financial assurance for the first phase as a condition of the Section 404 <br />permit. Climax would then provide successive financial assurance for each subsequent <br />mitigation phase prior to the start of construction activities. There are two potential mechanisms <br />to provide financial assurance for each phase of the mitigation site: <br />1. Purchase a separate surety bond for each phase of mitigation, to be held by the Corps or <br />the Colorado Division of Reclamation, Mining and Safety (DRMS), from an accredited <br />insurance company. Climax currently uses Aon Risk Services Southwest, Inc. of <br />Houston, Texas to manage its current reclamation performance bonds required by <br />DRMS.