Laserfiche WebLink
<br />This document contains the findings and decision pertaining to a <br />Request for Transfer of Coal Permit and Succession of <br />Operators(Successionj. The Succession application was received by <br />the Division of Minerals and Geology (DMG) on June 30, 1995. The <br />Succession application proposes a transfer of DMG Permit No. C-81- <br />022 from the current permittee and operator, which is Somerset <br />Mining Company, to a new permittee and operator, which is Pacific <br />Basin Resources, a Division of Oxbow Carbon and Minerals, Inc. The <br />mine name will also change from the " Somerset/Sanborn Creek Mine" <br />to the "Sanborn Creek Mine". The application was submitted and <br />reviewed pursuant to the procedures of Rule 2.08.6 of the <br />Regulations of the Colorado Mined Land Reclamation Board for Coal <br />Mining. The DMG hereby approves the Succession request. <br />Process <br />On June 30, 1995 the above-referenced Succession application was <br />received at the offices of DMG. This initial application was a <br />properly executed Request for Transfer of Coal Permit and <br />Succession of Operators form, as required by rule 2.08.6(2)(b) and <br />was deemed complete on July 10, 1995. On July 11, 1995, DMG <br />received an Affidavit of Publication indicating that the public <br />notice as required by rule 2.08.6(3) had been published in the <br />Delta County Independent on July 5, 1995. The DMG sent an initial <br />adequacy letter to Pacific Basin Resources on July 28, 1995. <br />Proper evidence of liability insurance was received by the DMG on <br />August 16, 1995. On August 30, 1995, properly executed bond <br />documents were approved by the DMG. The decision to approve the <br />Succession application was issued on August 30, 1995, <br />Findinas <br />1. The DMG hereby finds that a properly executed Request for <br />Transfer of Coal Permit and Succession of Operators <br />application form has been submitted to the DMG, and this form <br />requests that DMG Permit No. C-81-022 be transferred from <br />Somerset Mining Company to Pacific Basin Resources, a Division <br />of Oxbow Carbon and Minerals, Inc,(2.08.6(2)(b)). <br />2. The DMG hereby finds that properly executed Surface Coal <br />Mining and Reclamation Operation Reclamation Bonds have been <br />posted by the successor operator as follows: Letter of Credit <br />No. 13424 for $575,000.00; Certificate of Deposit No. <br />000597002 for $96,000.00; Letter of Credit No. A0279 for <br />$37,000.00; Certificate of Deposit No. 601629001 for <br />$6,000.00; Treasury Note-CUSIP No. 912827L42, Receipt 822384 <br />for $351,962.50; Treasury Note-CUSIP No. 912827L42, Receipt <br />833628 for $10,463.75; Treasury Note-CUSIP No. 912827L42, <br />Receipt 89656 for $13,317.50 for a total Reclamation Bond <br />amount of $1,089,743.75 (one million, eighty-nine thousand, <br />seven hundred and forty-three dollars and seventy-five cents). <br />The bonds have been submitted in the name of Pacific Basin <br />Resources, a Division of Oxbow Carbon and Minerals, Inc. for <br />Permit No. C-81-022 and all have been accepted by the DMG <br />