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II. OBSERVATIONS AND FINDINGS <br /> In conjunction with Midterm Review No. 3 (MT3) and in accordance with Rule 3.02.2(4), the Division <br /> has reviewed the adequacy of the reclamation bonding instruments and the adequacy of the reclamation <br /> cost estimate. There is currently one corporate surety in place for the Peabody Sage Creek Mine in a total <br /> bond amount of$3,389,947.00. <br /> A reclamation cost estimate was developed by the Division as a part of the Midterm Review No. 3 (MT3) <br /> process that was approved on February 14, 2023. The last reclamation cost estimate was developed for <br /> Permit Renewal No. 2 (RN2) on March 12, 2020. The Division's reclamation costs have not been updated <br /> since that date. Increases associated with the MT3 review are due to general updates in the cost estimate <br /> related to inflation. This reclamation cost estimate was sent to PSCM with the MT3 review document on <br /> February 16, 2023. Therefore,the required surety needs to be updated through the bond adjustment/surety <br /> increase process outlined in Rule 3.02.2(4). <br /> The Division proposes to increase the required surety at the site to $3,681,766.00. The Division currently <br /> holds a surety in the amount of $3,389,947.00. The net increase in required surety is $291,819.00. <br /> Therefore,PSCM will be required to submit an additional$291,819.00 in bond. <br /> III. PROPOSED DECISION <br /> The Division proposes to approve SI1 and increase the reclamation liability amount to $3,681,766.00. <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(4). Public notice of this proposed decision will be published twice in Colorado Mountain News <br /> Media - Steamboat Pilot 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 Colorado Mountain News Media - <br /> Steamboat Pilot. The request must state with reasonable specificity the reasons for the request and the <br /> objections to the proposed decision. If no hearing is requested within that thirty days, the Division's <br /> decision will become final. <br />