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Section VI <br />DETERMINATION of BOND AMOUNT <br />As of August 19, 2021, the Division estimates liability at the New Elk Mine to be $5,206,046.00. This amount is <br />sufficient to 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 re-establishing vegetation on any revegetated areas, should those areas fail. The <br />permittee currently has posted corporate sureties with the Division in the amount of $4,647,856.08 for the New <br />Elk Mine. <br />The current required surety for the New Elk Mine is $4,605,014.08, and the Division currently holds <br />$4,647,856.08 of bond in the form of corporate sureties. The estimated liability at the site based on this review <br />is $601,031.92 more than the current required surety and is $558,189.92 more than the current bond held for the <br />site. The Division requests that NECC review the reclamation cost estimate attached to this midterm review <br />document. If NECC has any specific concerns regarding the reclamation cost estimate, please submit them by <br />September 30, 2021. If no comments or concerns are received by this date, the Division may initiate the bond <br />adjustment process in accordance with Rule 3.02.2(4). <br />This concludes the 2021 Midterm Review (MT8) of the New Elk Mine. Please submit any required revision <br />applications responding to the issues outlined in Section V on or before 14 October 2021. <br />