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Page 2 <br />Mr. Berhan Keffelew <br />April 7, 2004 <br />New disturbances anticipated during fhe upcoming year. Continued construction of Phase <br />IVc of the VLF; continued development of the Main Cresson and East Cresson Mine areas <br />and associated haulroads, sediment control measures, topsoil stockpiles, and other <br />ancillary disturbances required to support these activities. <br />Reclamation anticipated during the upcoming year.• Approximately 20 acres of <br />miscellaneous sites consisting of topsoil stockpiles, construction sites, and <br />miscellaneous mining activity areas are planned to be reclaimed this year. Backfilling of <br />the Portland surface mine will continue in 2004. <br />Financial Warranty: <br />Per 2CCR 407-1, 407-4, and Rules 1.15(1)(a), St. Paul Fire and Marine Insurance Company <br />Corporate Surety Bond No. (in the amount of $33,331,600) and Liberty Mutual Surety <br />Bond No. (in the amount of $7,622,273.21) for a total financial warranty of <br />$40,953,873.21 have been accepted by the Division. These bonds continue to demonstrate the <br />sufficiency of the value of the Financial Warranty. <br />Per 2CCR 407-1, 407-4, and Rules 4.7(3), the insurance company's most recently available <br />balance sheets are attached, demonstrating that the Surety Bonds do not exceed ten percent <br />(10%) of the bank's capital surplus accounts. <br />Designated Mining Operation: <br />Per 2CCR 407-1, 407-4, and Rules 1.15(1)(c), monitoring information required as part of the <br />approved permit application and Environmental Protection Plan is routinely submitted to the <br />Division. <br />Please do not hesitate to contact me at (719) 689-4056 if you have any questions. <br />Sincerely, <br />~~~- <br />Y <br />Phil Barnes <br />Manager, Environmental Resources <br />Enclosures <br />cc: Paul Clarkson, Director, Teller County Community Development Services <br />