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reclamation based on the mining plan contained in the second permit application to be <br />°''~ ^^^ Cclorado accepted CF&I's reclamation cost estimate and CF&I's irrevocable letter <br />of credit for $76,000. <br />Colorado asserts that the reclamation plans overlap and that the reclamation <br />plan included in CF&I's appfication for Permit No. M-87-093 specifically provides that <br />reclamation under that permit will be consistent with the plan descnbed in Permit No. M-77- <br />377. Both permits require reclamation of areas disturbed within the permit boundaries <br />consistent with the proposed plans. <br />The amount of the financial securities provided to Colorado should have <br />reflected the amount it would cost Colorado to hire a contractor to perform the planned <br />reclamation work. The bond and letter of credit are available to Colorado to apply toward <br />the cost of reclaiming the Quarry following forfeiture of the financial warranties. CF&I has <br />no objection to the forfeiture of the bond and letter of credit. <br />In the time since the mining permits were issued, both parties re-evaluated the <br />cost of reclamation at the Quarry. Colorado's current estimate for reclamation of the <br />Quarry totals $561,196. The estimate includes direct cosu of S182,153 for demolition of the <br />buildings, $104,145 for revegetation, $175,895 for earthwork, and S16,205 for mobilization <br />and demobilization. Colorado estimates that indirect cosu for contractor's overhead and <br />profit, and contract administration expenses total $82,798. Colorado's estimate also reflects <br />internal cosu and is based upon duect experience and the use of the Means Site Work & <br />Landscape Cost Data manual. <br /> <br />