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Minutes , March 25-26, 1992 13 <br /> Staff reported that the rock dust plant was operating during the time <br /> of the Division' s inspection and that the equipment appeared to be good <br /> condition. Staff said the plant foreman reported that maintenance is <br /> conducted on a weekly basis . <br /> Staff said the insurance covering the work at the site is provided <br /> through the operator' s blanket insurance policy. Staff said a <br /> certificate of insurance had been received which named the Division as <br /> an additional mortgagee payable in the event of loss . Staff said that <br /> the policy has a $1 million limit, and the plant and equipment are <br /> estimated to be worth between $2 to $2.5 million less the land value. <br /> Staff said another appraisal would need to be completed, in order to <br /> determine the current value of the plant and equipment. It was noted <br /> that there is a provision for the operator to notify the Division, <br /> prior termination of the insurance. <br /> Staff informed the Board that the Division, the - Assistant Attorney <br /> General and the Division' s bankruptcy attorney attended Monday' s <br /> meeting in which the operator' s pending bankruptcy was discussed. . <br /> Staff said that the Division's concerns regarding site maintenance and <br /> reclamation were discussed at that time. <br /> Staff Presentation by Larry Routten: <br /> 8. FORMAL PUBLIC HEARING <br /> AMERICAN SHIELD COAL COMPANY File No. C-81-015 <br /> 10830 N. Central Expressway, Suite 175 <br /> Dallas , TX 75231 <br /> All persons wishing to give testimony were sworn. <br /> NE 1 /4 Sec. 30, NW 1 /4 Sec. 289, TBS, Range 101W, 6th P.M. , Mesa <br /> County, approximately 48 acres; private underground coal mine. <br /> Consideration of a settlement agreement in regard to reclamation at the <br /> Fruita Nos. 1 and 2 coal mines . <br /> Staff presented EXHIBIT A, the Settlement Agreement developed between <br /> the Division and the operator, and requested that the Board consider <br /> its adoption.- Staff said. the Settlement- Agreement.. was. developed in. <br /> order to resolve some issues related to a notice of violation issued <br /> during the fall of 1991 , as well as to address concerns regarding <br /> reclamation of a highwall . Staff showed slides , EXHIBIT B, and <br /> discussed the site. <br /> In providing background and history information, Staff said this site <br /> was initiated in 1977, with the construction of benches , by a company <br /> known as Coal Mining Partners . Staff said that in 1979 another <br /> company, Dorchester Coal Company applied for and obtained an interim <br /> permit through the Division, i .e . , it was issued prior to the <br /> establishment of the Division' s current permanent Coal Program. <br /> In 1983 the coal seam of the Upper Mine area, the portion of the site <br /> in question at this time , caught fire . Shortly after the fire, the <br />