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Permit Number C-1994-082 Page 17 of 17
<br />The original performance bond for the Yoast Mine including revisions was $5,095,689.00. For the
<br />partial Phase I portion of this SL-6 bond release, Rule 3.03.1(2)(a) states that the Division can release up
<br />to 60% of the entire amount. The 76.5 acres that are requested for Phase I bond release make up
<br />approximately 8.99% of the 850.5 total disturbed acres. $3,057,413.40 constitutes 60% of the original
<br />liability (60% of $5,095,689.00). Per Rule 3.03.1(2)(a), the Division can release up to $274,861.46
<br />(8.99% of $3,057,413.40) for this SL-6 partial Phase I bond release.
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<br />For the partial Phase III portion of this SL-6 bond release, Rule 3.03.1(2)(c) states that the Division can
<br />release the remaining portion of the entire amount. The Phase III areas requested in the SL-6 Phase I
<br />and II bond release have been approved, leaving 15% of the entire amount remaining. The 275.4 acres
<br />that are requested for Phase III bond release make up approximately 32.39% of the 850.5 total disturbed
<br />acres. $764,353.35 constitutes 15% of the original liability (15% of $5,095,689.00). Per Rule
<br />3.03.1(2)(c), the Division can release up to $247,574.05 (32.39% of $764,353.35) for this SL-6 partial
<br />Phase III bond release.
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<br />The most recent update of the reclamation liability for the Yoast Mine was completed on March 7, 2017
<br />during the Permit Renewal No. 4 (RN-4) review process. The Division determined that the estimate of
<br />liability at the Yoast Mine was $1,902,423.58. The Division previously released $11,862.00 with SL-1,
<br />$790,205.00 with SL-2, $1,693,918.00 with SL-3, $452,336.00 with SL-4, and $1,493.63 with SL-5.
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<br />The Division holds a performance bond of $2,221,677.26 for the Yoast Mine. The current liability for
<br />the site is $1,902,423.58. The minimum amount that must be retained in accordance with Rule 3.03.1(3)
<br />is $1,379,988.07 ($1,902,423.5 - $522,435.07 (SL-6 Phase I + Phase III)). The Division estimates its
<br />cost to complete remaining reclamation work at the site to be $1,340,063.72. The Division proposes to
<br />release $522,435.07 associated with the Phase I and Phase III portions of this SL-6 bond release. The
<br />remaining $1,379,988.07 is sufficient to assure completion of the remaining reclamation work at the site
<br />if the work had to be performed by the Division, including the cost of reestablishing vegetation on any
<br />revegetated areas, should those areas fail.
<br />
<br />Any person with a valid legal interest which might be adversely affected by this proposed decision may
<br />request a formal public hearing before the Mined Land Reclamation Board in accordance with Rule
<br />3.03.2(6). Public notice of this proposed decision will be published twice in the Steamboat Pilot as soon
<br />as possible. Requests for public hearing must be submitted to the Division in writing within thirty days
<br />of the first publication in the Steamboat Pilot. If no hearing is requested within those thirty days, the
<br />Division's decision will become final.
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<br /> C-SL-10
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