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In order to (i) comply with rule 3.03.1(2) and(ii) ensure that the revised required surety is <br /> sufficient to cover the remaining reclamation liability at the mine,the Division will release <br /> whichever is the smaller of the two values X and Y. In this case,the smaller value,Y,is <br /> $81,667.48. <br /> The Division currently holds a performance bond of$15,000,000. Based on the observations above,the <br /> Division proposes to release$81,667.48. Following the approval of SL-13 the revised required surety <br /> will be$11,899,066.46,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 $11,899,066.46. <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-13 562.23 $11,980,733.94 $11,957,476.18 <br /> Phase 1 0 $0.00 <br /> Released with SL-13 Phase II 50.04 $81,667.48 <br /> Phase III 0 $0.00 <br /> Following approval of SL-13 562.23 $11,899,066.46 $11,899,066.46 <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 <br /> Independent for two weeks as soon as possible. Requests for public hearing must be submitted to the <br /> Division in writing within thirty days of the first publication in the Delta County Independent. If no <br /> hearing is requested within those thirty days,the Division's decision will become final. <br /> C-SL-10 <br /> C-1980-007 Page 11 of 11 <br />