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DIVISION OF MINERALS AND GEOLOGY <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 />April 19, 2001 <br />Mr. Bryce Romig <br />Climax Molybdenum Company <br />Climax Mine <br />Climax, CO 80249 <br />RE: Deadline Waiver for Submittal of Increased Financial Warranty, <br />Climax Mine, Permit No. M- 1977 -493 <br />Dear Mr. Romig: <br />The Division of Minerals and Geology issued a letter dated February 22, 2001 approving revision SR- <br />03 to the Climax Mine reclamation permit. That letter included a financial warranty review under Rule <br />4.2.1 of the Hard rock/Metal Mining Rules and Regulations of the Mined Land Reclamation Board <br />resulting in an overall increase in the amount of required bond. The February 22, 2001 letter included a <br />requirement to submit the increased bond by April 21, 2001. Subsequently, we have discussed <br />alternative regulatory approaches both to the approval of SR -03 and to the financial warranty review. <br />Given the ongoing nature of these discussions, the requirement to submit the increased bond by April <br />21, 2001 is hereby rescinded. The resolution to the pending financial warranty review will be addressed <br />in future discussions and correspondence. <br />If you have any questions, please contact me. <br />Sincerely, <br />• <br />Allen C. Sorenson <br />Reclamation Specialist <br />c: \windows \personal \climax SI waiver doc <br />STATE Or COLORADO <br />D I V I S I O N O F <br />MINERALS <br />GEOLOGY <br />RECLAMATION <br />MINING•SAFETY <br />Bill Owens <br />Governor <br />Greg E. Walcher <br />Executive Director <br />Michael B. Long <br />Division Director <br />