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&r- <br />Cripple Creek & Victor Gold Mining <br />A Joint Venture ANGLOGOLD ASHANTI (COLORADO) CORP., Manager <br />Operations Office <br />P.O. Box 191 100 North 3"' Street <br />Victor, Colorado 80860 <br />(719) 689-2977 - Fax (719) 689-3254 <br />SENT CERTIFIED, RETURN RECEIPT REQUESTED <br />7006-2150-0005-2770-4185 <br />January 9, 2009 <br />,/ <br />Mr. Berhan Keffelew <br />Colorado Department of Natural Resources <br />Division of Reclamation, Mining and Safety <br />Office of Mined Land Reclamation <br />1313 Sherman Street, Room 215 <br />Deaver. Colorado 80203 <br />Re <br />Highwalls not to Final Design Confi.(Qiriltion <br />Dear Mr. Keffelew, <br />REOFIVED <br />xfAN 132009 <br />Division of `-(eclanlation, <br />1 Mining and Safety <br />Per the request of the Colorado Division of Reclamation, Mining, and Safety, ("DRMS"), CC&V <br />herein submits an evaluation of the estimated financial warranty calculation for blasting of <br />highwalls. <br />The request was to evaluate the financial warranty that would be needed for blasting of highwalls <br />not to final design configuration should an unanticipated cessation of mining activities occur at <br />CC&V's Cresson Project as approved under Amendment No. 9 prior to the year 2016. Based on <br />an evaluation performed by CC&V's Engineering Department, the anticipated maximum amount <br />of exposed highwall not to final design configuration is approximately 8,100 linear feet and <br />would occur in year 2013 based on current mine production rates. The estimated cost for <br />blasting that amount of highwall would be approximately $631,000, see Attachment #1, page 1. <br />However, based on the savings that would occur in the chemical detoxification costs by reducing <br />2.5 years of additional ore placement on the Valley Leach Facility should mining activities cease <br />at this point in year 2013, there would be approximately $4.6 million available in the financial