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Financial warranty - Colorado Division of Reclamation Mining and

Financial warranty - Colorado Division of Reclamation Mining and 2025

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The document outlines the financial warranty agreement between an Operator and the Board regarding the reclamation of affected lands as required by law. It details the Operator's commitment to cover estimated reclamation costs, the issuance of a Letter of Credit as proof of financial responsibility, and conditions under which the warranty may be adjusted or forfeited. The document also specifies obligations related to compliance with applicable laws and regulations, including provisions for notification and potential hearings in case of impairment.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Who pays for mine reclamation?

Fees paid by coal mine operators fund the AML Reclamation Program. Companies pay a per-ton fee to OSMRE .

What is the process of mine restoration?

Reclamation Process Site Planning. Contouring and Grading. Placement of Topsoil or Substitute. Revegetation. Erosion Control. Water Quality Management. Wildlife Habitat Restoration. Monitoring and Maintenance.

What is the average cost of mine restoration?

Surface Mine Reclamation The average cost for surface mine reclamation was $l,658/acre. Cost of moving earth was $0.35/cubic yard (Table V). These costs arc higher than those reported by the U. S. Bureau of Mines for surface (6) mine reclamation at Moraine State Park in Pennsylvania.

What is the average cost of a mine?

Cost Estimates - Small to Medium-Scale Surface Mining: Costs can range from $500,000 to $10 million. - Large-Scale Surface Mining: Costs can exceed $100 million. - Small to Medium-Scale Underground Mining: Costs can range from $1 million to $20 million. - Large-Scale Underground Mining: Costs can exceed $200 million.

What can you do with a Colorado mining claim?

As an owner of an active Federal unpatented mining claim, you have exclusive rights to explore and extract the minerals within its boundary from the date you located the mining claim as long as the claim remains active. The government can examine your claim at any time to determine if you have valid existing rights.

Do mining companies have to restore the land?

Due to the effects that mining has on the environment, the land that has been mined must be rehabilitated, in some way, so that it can remain healthy, without damaging or affecting the surrounding environment in a negative manner.

How much does reclaimed land cost?

Reclaimed land usually costs between $310,000 and $670,000 per hectare. If you compare this cost to the average cost of purchasing land (especially for commercial/residential purpose) in a big city, its in some locations at least 10 times more expensive to buy land, than to reclaim.

Financial warranty - Colorado Division of Reclamation Mining and 2025

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