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RULES AND REGULATIONS OF THE COLORADO MINED LAND RECLN ATION BOARD <br /> Effective July, 1978 <br /> 7.15 In the event security other than a corporate surety bond is <br /> offered, the Board shall consider: <br /> (1) The operator's financial status. <br /> See Attachment E. <br /> (2) The operator's assets within the state. <br /> The five Coal Basin coal mines operated by Mid-Continent <br /> Resources have a capacity in excess of 1,000,000 per year <br /> tons of metallurgical coking coal, all mined underground <br /> by room and pillar and by advancing longwall methods. <br /> Federal and fee coal leases in Coal Basin exceed 8,000 <br /> acres. Fee sim-)le title to land in and about Coal Basin <br /> exceeds 5,600 acres. <br /> The coal operation includes a modern preparation plant <br /> and two thermal dryers, together with warehouses, shops, <br /> office, bathhouse, and supporting facilities in Coal <br /> Basin, and, in addition, the Unit Train Loadout facility <br /> East of Carbondale with a capacity of about 30,000 tons <br /> of coal. <br /> In Colorado, Mid-Continent holds various improved real <br /> estate properties in the Carbondale area and, through a <br /> subsidiary, holds real estate development projects in <br /> Western Colorado. <br /> The reasonable value of Colorado assets, free and clear <br /> of indebtedness, substantially exceeds $10,000,000, as <br /> estimated by an independent Certified Public Accountant <br /> (See Attachment E) . <br /> (3) The operator's past performance on contractual agreements; <br /> Mid-Continent Resources, Inc. , has operated the Coal <br /> Basin Mines continuously since 1956, supplying coal to <br /> Kaiser Steel Corporation at Fontana, California and <br /> United States Steel Corporation at Provo, Utah. Fulfill- <br /> ment of our contractual commitments entails supplying <br /> 900,000/1,000,000 tons per year of coal which has been <br /> mechanically cleaned and dried to meet blast furnace coke <br /> specifications. Mid-Continent has never defaulted on its <br /> coal supply agreements. <br /> In addition, Mid-Continent has fulfilled agreements <br /> with the U. S. Forest Service and Pitkin County and other <br /> agencies for reclamation and environmental protection, <br /> and has contracted to supply the county and U.S.F.S. <br /> with native seedlings for the past two years. <br />