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In order to(i)comply with rule 3.03.1(2)and(ii)ensure that the revised required surety is sufficient <br /> to cover the remaining reclamation liability at the mine, the Division will release whichever is the <br /> smaller of the two values X and Y. In this case,the smaller value,X,is $295,827.06. <br /> The Division currently holds a performance bond of$15,000,000. Based on the observations above,the <br /> Division proposes to release $295,827.06. Following the approval of SL-12 the revised required surety <br /> will be $11,980,733.94,which is sufficient to assure completion of the remaining reclamation work at <br /> the site if the work had to be performed by the Division,including the cost of reestablishing vegetation <br /> on any revegetated areas, should those areas fail. The Division estimates its cost to complete remaining <br /> reclamation work at the site to be $11,957,476.18. <br /> Table 5 <br /> West Elk Mine(C-1980-007) Bond Release Summary <br /> Acres Amount Required Surety Estimated Reclamation <br /> Liability <br /> Prior to SL-12 562.23 $12,276,561.00 $12,276,561.00 <br /> Phase 1 22.58 $295,827.06 <br /> Released with SL-12 Phase 11 0 0.00 <br /> Phase 0 0.00 <br /> III <br /> Following approval of SL-12 562.23 $11,980,733.94 $11,957,476.18 <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 Delta County Independent <br /> as soon as possible. Requests for public hearing must be submitted to the Division in writing within thirty <br /> days of the first publication in the Delta County Independent. If no hearing is requested within those thirty <br /> days,the Division's decision will become final. <br /> C-SL-10 <br /> C-1980-007 Page 10 of 10 <br />