bishop california office BLMhttps://www.blm.gov/or/programs/minerals/files/minerals_reclamation_bonding.pdf
Pursuant to §3809.551, the operator/claimant must provide a financial guarantee acceptable to the BLM before operations can begin under a Mining Plan and §3809.503(c) and §3809.554(b), under a new notice. The financial guarantee must cover the estimated reclamation cost as if the BLM were to contract with a licensed and bonded third party to reclaim disturbances resulting from the operations or pre-existing disturbances for which the claimant/operator has taken responsibility, pursuant to §3809.552(a) and §3809.554(a). Acceptable financial guarantee instruments may be found at §3809.555.
When the BLM identifies a need for it, the operator must establish a trust fund or other funding mechanism available to the BLM to ensure the continuation of long-term treatment to achieve water quality standards and for other long-term, post-mining maintenance requirements. The funding must be adequate to provide for construction, long-term operation, maintenance, or replacement of any treatment facilities and infrastructure for as long as the treatment and facilities are needed after mine closure. The BLM may identify the need for a trust fund or other funding mechanism during plan review or later.
NR 17th of April: The contract states that a Letter of Credit must be posted that the Company can draw an 85 percent provisional payment based on the preliminary assay results.
Plan of operations required extra cash?