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assure the completion of the reclamation plan if the work had to be performed by the <br />Board, through independent contractors, in the event of forfeiture" pursuant to Rule <br />3.02.2(1). <br />Although the Division currently holds an excess in bond monies of $7,849.00, <br />Honeywood Coal Company may not request a bond reduction for this amount. The <br />current amount of bond held has been set through the phased bond release process <br />pursuant to Rule 3.03.1(2). <br />The original bond held for the Hamilton Mine was in the amount of $600,000.00 to cover <br />the estimated $573,610.00 liability. Under Permit Revision No. 1 (PR-01), the liability <br />was increased to $616,250.00 and the amount of bond posted was increased to <br />$650,000.00. <br />On 07 March 1994, the Division received an application for Phase I Bond Release (SL- <br />01). The Division found that Honeywood Coal Company was eligible for a 60 percent <br />release of bond for successful completion of backfilling and grading. Specifically <br />excluded from the release were Sediment Ponds A and B and the remaining diversions <br />and berms. Approval of SL-01 in August 1994 released $497,226.00 of liability, leaving <br />$152,774.00 of bond required and held. <br />With Permit Renewal No. 3 (RN-03) in 2007, the Division recalculated the estimated <br />reclamation costs for the Hamilton Mine. This resulted in increasing the amount of bond <br />required to $447,281.00, the amount currently held. <br />A copy of the reclamation cost estimate compiled for this Midterm Review is attached as <br />Exhibit A. <br />This concludes the Division's Midterm Review No. 4 for the Hamilton Mine. <br />Hamilton Mine <br />Permit No. C-1991-078 <br />Midterm Review No. 4 <br />10 August 2009 <br />5