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West Elk Mine C1980 -007 Bond Release History <br />Phase I <br />Phase II <br />Phase III <br />acres <br />amount <br />acres <br />amount <br />acres <br />amount <br />SL -01 <br />15.19 <br />$79,727.00 <br />0 <br />$0.00 <br />0 <br />$0.00 <br />SL -02 <br />5.5 <br />$122,629.00 <br />0 <br />$0.00 <br />0 <br />$0.00 <br />SL -03 <br />47.65 <br />$470,488.00 <br />0 <br />$0.00 <br />0 <br />$0.00 <br />Total <br />68.34 <br />$672,844.00 <br />0 <br />$0.00 <br />0 <br />$0.00 <br />The Division currently holds a performance bond in the form of two corporate sureties in the <br />amount of $15,000,000.00 (bond from the St. Paul Fire and Marine insurance Company <br />in the amount of $10,000,000.00 and bond from the Bond Safeguard Insurance Company <br />in the amount of $5,000,000.00). The current reclamation liability at the West Elk Mine is <br />$14,606,118.00. Following the proposed release of $470,488.00, the Division will hold a bond in <br />the amount of $14,529,512.00 and the mine will have a reclamation liability in the amount of <br />$14,135,630.00. The remaining bond has been determined to be sufficient to assure completion of <br />the remaining reclamation work at the site if the work had to be completed by the Board through <br />third party contractors. <br />Any person with a valid legal interest which might be adversely affected by this proposed decision <br />may request a formal public hearing before the Mined Land Reclamation Board in accordance with <br />Rule 3.03.2(6). Public notice of this proposed decision will be published twice in the Delta County <br />Independent for two consecutive weeks as soon as possible. Requests for public hearing must be <br />submitted to the Division in writing within thirty days of the first publication in the Delta County <br />Independent. If no hearing is requested within the thirty days, the Division's proposed decision will <br />become final. <br />This concludes the Proposed Decision and Findings of Compliance for the West Elk Mine's <br />Partial Phase I Bond Release SL -03. <br />West Elk Mine SL -03 Findings 7 10 August 2012 <br />