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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: roto who wrote (52594)	11/8/2007 5:07:59 PM
From: E. Charters	Read Replies (1) of 78421

Mining companies already do post a reclamation bond for mine closure with the government. A product required by Law: Since the late 1970’s the Federal government has required coal-mining operations to post reclamation bond to ensure compliance with reclamation performance obligations under SMCARA. The Surface Mining Law requires that, as a prerequisite for obtaining a coal mining permit, a person must post a reclamation bond to ensure that the regulatory authority will have funds to reclaim the site if the permittee fails to complete the reclamation plan approved in the permit. The Office of Surface Mining regulations recognize three major categories of reclamation bonds: corporate surety bonds, collateral bonds (cash; certificates of deposit; first-lien interests in real estate; letters of credit; federal, state, or municipal bonds; and investment-grade securities), and self bonds (legally binding corporate promises without separate surety or collateral, available only to permittees who meet certain financial tests). State regulatory programs generally recognize the same three categories, although the programs vary somewhat in terms of which financial instruments are acceptable. A few states also have exercised their discretion to exclude the self-bond option. coalbonds.com scielo.br US Regs msha.gov technology.infomine.com nv.blm.gov osmre.gov *****************************************************

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