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• INTRODUCTION <br />The following is Kaiser Ventures, Inc. Colorado Coal Mine No. 1 (CCMaI) permit document for <br />permit number C-81-024 as issued by the Colorado Division of Minerals and Geology (CDMG) <br />in June of 1983. The description of the area is provided in the Legal and Financial Section, 2.03, <br />and is depicted on the Surface and Mineral Ownership Map (Map 1). Kaiser Ventures, Inc. is a <br />corporation registered in the State of Delaware. On June 3, 1993, the Board of Directors changed <br />the corporate name from Kaiser Steel Resources to Kaiser Resources, Inc. to better reflect the type <br />of business conducted by the company. The name was changed again in late 1995 from Kaiser <br />Resources, Inc. to Kaiser Ventures, Inc. for the same reasons. These were name changes only <br />which did not alter corporate ownership or structure. <br />The Colorado Coal Mine No. 1 was initially operated by the Colorado Coal Mining Company <br />under interim Permit No. 80-59, which was issued on June 26, 1980. A permanent program <br />permit was applied for on February 9, 1981. In July of 1981, a Notice of Intent to Conduct <br />Exploration (CX-127-01) was filed, with mining occurring under this NOI in May 1982. This <br />activity resulted in the removal of approximately 35,000 tons of coal and a total disturbance of <br />73.5 acres. <br />A revised mining plan was submitted to the Division in December of 1982 and subsequently <br />approved in June of 1983. This revised plan considerably down-sized the operation and provided <br />fora "dry mine" plan to avoid a host of hydrology concerns which had been raised by the <br />Division. This mining permit for coal was actually issued on March 12, 1984. However, mining <br />under this permit never occurred. <br />The mine was transferred to Kaiser Steel Resources on March 28, 1985. The permit was renewed <br />in August of 1989, which allowed for "reclamation only" at this site. The site has now been <br />reclaimed to the point that vegetation is well enough established that sediment ponds have been <br />removed. <br />Over the years of the Permit, there have been several revisions and stipulations placed on the <br />Permit. A summary of these changes is provided below. <br />Revisions fo fhe Permif <br />There apparently has been some confusion with regard to processing revisions to this permit in <br />the past. It appears that no distinction was made between technical revisions and minor revisions <br />with respect to sequential numbering. Consequently, the first revision conducted was Technical <br />Revision 2, followed by Minor Revisions 2, 3, and 4, followed by Technical Revisions 6 through <br />12. The following is a list of all revisions to the permit. <br /> <br />1.01-1 Revised 1/20/97 <br />