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STATE OF COLORADO <br />DIVISION OF MINERALS AND GEOLOGY <br />Department of Natural Resources <br />1313 Sherman St., Room 215 C O L O RA D O <br />Denver, Colorado 80203 D I v I S l O N O F <br />Phone: (303) 866-3567 MIN &RA L $ <br /> <br />FAX: (303) 832-8106 G E O L O G Y <br /> REC LANATION•NINING <br /> SAFETT•SCIENCE <br />April 1, 2005 <br /> Bill Owens <br />Ron Thompson GGVernor <br />Peak Project Management Russell George <br />34115 Co. Rd. 20.8 Executive Director <br />Trinidad Colorado 81082 Ronald W. Cottony <br /> Division Director <br /> Natural Resource Trustee <br />RE: Liability Insurance Certificate, New Elk Mine, Permit No. C-81-012 <br />Lorencito Canyon Mine, Permit No. C-98-084 <br />Dear Mr. Thompson: <br />The Division of Minerals and Geology received a liability insurance certificate on <br />November 8, 2004 for Picketwire Processing, LLC, permittee for the New Elk Mine, #C- <br />81-012. <br />Policy Description: Picketwire Processing LLC <br />Policy Number: 37111113CH1 <br />Insurance Co: Federal Insurance Company <br />Effective Dates: 10/01/04 to 10/1/05 <br />Limits: $1,000,000.00 <br />The following problems were noted; <br />In the description of operations section, the mine site for the listed insured must <br />be identified by name and permit number. Currently, the mine site described for <br />this permittee is #C-96-084. Please correct/add the name and permit # for the <br />New Elk Mine and add the mine site name Lorencito Canyon Mine. <br />If you choose to list both sites under the description of operations, the insured <br />must be A.P. Maxwell, parent company of Lorencito Coal Company LLC and <br />Picketwire Processing LLC. Please correct as necessary. If you choose <br />separate certificates, the insured must be the permittee for the mine identified by <br />permit number and site name listed under the description of operations. <br />3. Rule 2.03.9 requires that each applicant have a public liability insurance policy in <br />force during the life of the permit, including completion of all reclamation <br />operations under Rule 4. Additionally, Rule 2.03.9 requires that the policy <br />include a rider requiring that the insurer notify the Division whenever substantive <br />changes are made in the policy, including any termination of failure to renew. <br />Currently, the certificate submitted to the Division for the two mine sites does not <br />satisfy the requirements of Rule 2.03.9 regarding changes to, or cancellation of, <br />Office of Office of Colorado <br />Mined Land Reclamation Active and Inactive Mines Geological Survey <br />