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<br /> <br /> <br /> <br /> <br /> <br />October 16, 2024 <br /> <br /> <br />John Wilmot <br />Climax Molybdenum Company, Climax Mine <br />Hwy 91-Fremont Pass <br />Climax, CO 80429 <br /> <br /> <br />Re: Climax Mine - File No. M-1977-493 <br /> Climax Molybdenum Company, Climax Mine <br /> Surety Increase (SI-3) <br /> Surety Increase based on updates from TR-36 <br /> <br />Dear John Wilmot: <br /> <br />On October 16, 2024 the Division of Reclamation, Mining and Safety increased the current Financial <br />Warranty for this permit to $284,783,656.00, in accordance with Rule 4.2.1 of the Rules and <br />Regulations. This is an increase of $193,771,806.00. <br /> <br />Surety Increase based on updates from TR-36 <br /> <br /> <br /> <br />On October 16, 2024, the Division ordered amendment of the current Financial Warranty or submittal <br />of a new Financial Warranty reflecting the increase, within 60 days. <br /> <br />Please make arrangements with Sara M. Stevenson-Benn at the Division’s Denver office for submittal <br />of the financial warranty. Any other questions regarding completion, execution and/or submittal of <br />financial warranty forms should also be directed to Sara M. Stevenson-Benn by telephone at (303) <br />866-3567, or by email at Sara.stevenson-benn@state.co.us. <br /> <br />The Permittee for this site may be scheduled for a Formal Board Hearing for possible revocation of <br />the permit if the amount of any increased Financial Warranty has not been provided by December 15, <br />2024. <br /> <br /> <br />Bond Held: $91,011,850.00 <br />Prior Liability: $91,011,850.00 <br />Change in Liability: $193,771,806.00 <br />Revised Liability: $284,783,656.00