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may choose to apply for a bond reduction pursuant to Rule 3.02.2(5) or OMLLC may <br />choose to keep the extra bond amount as contingency. If OMLLC chooses to come in for <br />a bond reduction it must be in the form of a TR or PR. <br />SECTION V — PERMIT VARIANCES AND SPECIFIC APPROVALS <br />There are no permit variance requests or specific approvals for the Sanborn Creek and Elk Creek <br />Mine. The. Sanborn Creek and Elk Creek Mine do not conduct experimental practices, nor have <br />variances been granted for mountain top removal, approximate original contour or <br />contemporaneous reclamation. <br />SECTION VI — BONDING SUMMARY <br />Pursuant to Rule 3.02.2(4) the Division recalculated the reclamation cost estimate for the <br />Sanborn Creek and Elk Creek Mine in conjunction with the 2011 Midterm Review. The new <br />reclamation liability based on the 2011 Midterm Review and Minor Revision 96, which was <br />approved following the calculation of the 2011 Midterm Review estimate, is $4,253,709.00. The <br />previous liability at the Elk Creek Mine was $4,767,306.00. The decrease in reclamation <br />liability for the Midterm Review, of $513,597.00, is mainly due to a change in the mine's <br />borehole sealing plan, approved with Technical Revision 66 on 12 March 2010. <br />The Division currently holds a reclamation bond, in the form of a corporate surety from Lexon <br />Insurance Company (surety number 1069009), in the amount of $4,871,606.00. Pursuant to Rule <br />3.02.2(1), the Division currently holds enough bond monies to "... assure the completion of the <br />reclamation plan if the work had to be performed by the Board, through independent contractors, <br />in the event of forfeiture." <br />Sanborn Creek and Elk Creek Mine -7- July 7, 2011 <br />