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DIVISION OF RECLAMATION, MINING AND SAFETY <br />Department of Natural Resources <br />1313 Sherman St., Room 215 <br />Denver, Colorado 80203 <br />Phone: (303) 866 -3567 <br />FAX: (303) 832 -8106 <br />February 21, 2012 <br />Jim Kiger <br />Oxbow Mining, LLC <br />P.O. Box 535 <br />3737 Highway 133 <br />Somerset, CO 81434 <br />Re:Elk Creek Mine (Permit No. C- 1981 -022) <br />Surety Reduction (SR -1) <br />Dear Mr. Kiger: <br />If you have questions or need additional information please contact me <br />Sincerely, <br />Brock Bowles <br />Environmental Protection Specialist <br />Mined Land Reclamation <br />STATE OF COLORADO <br />COLORADO <br />D I V I S I O N O F <br />RECLAMATION <br />MINING <br />— &— <br />SAFETY <br />John W Hickenlooper <br />Governor <br />Mike King <br />Executive Director <br />Loretta E. Pineda <br />Director <br />In accordance with Rule 3.02.2(4) of the Rules and Regulations of the Colorado Mined Land <br />Reclamation Board for Coal Mining, the Division proposes to approve a surety reduction (SR -1)in <br />the <br />amount of $513,587.00. The Division currently holds a surety bond for the Elk Creek Mine in the <br />amount of $4,812,510.39. The Division updated the Reclamation cost estimate in Midterm Permit <br />Review 6 (July 2011) and determined the required surety for the Elk Creek Mine is $4,298,923.39. <br />The reduction in reclamation costs is due to modified procedures for sealing gob vent boreholes <br />approved in Technical Revision No. 66. Therefore Oxbow Mining, LLC is eligible for a surety <br />reduction of $513,587.00 ($4,812,510.39 minus $4,298,923.39). <br />This decision will be published in the Delta County Independent as soon as possible. Publication of <br />the notice <br />initiates a thirty 30 day public comment period. If within thirty days there are no requests for an <br />adjudicatory hearing the decision will become final. <br />Office of Office of <br />Denver • Grand Junction • Durango Active and Inactive Mines <br />