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Section VI <br />Bonding <br />The Division currently holds bond # L-1200-C-81-012 in the amount of $2,114,649.00 <br />issued by Lyndon Property Insurance Company for reclamation at the New Elk Mine. <br />Surety Increase No. 1 (SI-01) resulted in a Division review and recalculation of the <br />reclamation cost estimate and a Division order to increase the bond held by the Division <br />to $3,579,533.00. Following approval of MR-86 for on-site material disposal and <br />approval of TR-48 to incorporate the new estimate into the permit application, the <br />required amount of bond to be held by the Division was determined to be <br />$3,038,059.00. In February 2006, an application for transfer of the permit was received <br />from New Elk Coal Company. However, at this time, NECC has been unable to submit <br />the required amount of bond to successfully transfer the permit. Also pending at this <br />time is a bond release application (SL-02). The reclamation cost estimate was updated <br />with current costs through the bond release process (SL-02) concurrent with this mid- <br />term review. Therefore, the requirements of Rule 3.02.2(4) have been complied with <br />regarding review of the cost estimate and terms of acceptance of the bond. <br />This concludes the initial phase of the mid-term review process. Please submit a <br />technical revision responding to these issues identified in Section V by January 30, <br />2007. <br />-9- <br />