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i <br /> I <br /> COLORADO OPERATIONS <br /> ® Climax Molybdenum Henderson Mine <br /> A Freeport-McMoRan Company 1746 County Road 202 <br /> Empire,CO 80438 <br /> Phone(303)569-3221 I <br /> RECEIVED <br /> November 5, 2020 <br /> NOV 0 9 <br /> Via Email and UPS Tracking#: 1Z 804 847 03 4461 0982 DIVISION OF RECLAMATION <br /> MINING AND SAFETY <br /> Mr. Peter Hays <br /> State of Colorado <br /> Division of Reclamation, Mining and Safety <br /> 1313 Sherman St., Rm. 215 <br /> Denver, CO 80203 <br /> Re: Financial Warranty Increase-Climax Molybdenum Company,Henderson Operations,Permit <br /> No. M-1977-342 <br /> Dear Mr. Hays: <br /> This letter follows up on your Notice of Financial Warranty Increase(SI-04)letter dated September 9, 2020, <br /> our response dated October 1, 2020, and several conversations between the Division and Henderson I <br /> regarding the increase in financial warranty for Henderson. Our October 1,2020 letter outlined Henderson's <br /> fulfillment of the required increase in financial warranty and provided documentation for Henderson's assets <br /> to be included. <br /> Henderson has provided DRMS with$82,896,240.00 in additional surety bonds to cover that portion of the <br /> financial warranty not consisting of interests in property. This increase in surety bond coverage brings the <br /> portion covered by letter of credit and surety bond to $132,586,778.00, or 78 percent of the <br /> $171,125,253.00 total. As recognized in our discussions with the Division, it will take some time for the <br /> Division to fully evaluate and for the Division and Henderson to work through various aspects related to the <br /> remaining 22 percent which is made up of the interests in property that Henderson has presented. We <br /> understand that Henderson has provided sufficient information to allow the Division to begin its evaluations. <br /> Please let us know if additional information is needed at this time. <br /> We look forward to presenting information on the financial warranty increase to the Board at their November <br /> meeting. Henderson intends to expeditiously complete the remaining steps and work with the Division to <br /> move this process forward. ; <br /> ji <br /> 1 <br /> 3 <br /> ; <br /> I <br />