Requirements for Reclamation Bonding

In the case of small scale mining permits, the committee of minerals and environment sets the reclamation bond to cover the costs of reclamation in a quantity not to surpass $ (this varies from state to state and country to country).  In the case of large scale mine permits, the committee sets the reclamation bond to cover the whole cost of hiring a third party contractor to carry out recovery dealings. Previous to the release of a reclamation bond, an operator is under the obligation of submitting a bond to cover after closure costs once the reclamation bond has been released.  A post closure plan will also need to be presented as well during the same time. In the case of operations that make use of cyanide leaching as well as additional biological or chemical leaching agents, these are obligated to present more financial declarations or bonding with the department in charge. There is, in addition, a certain amount of $ that serves as financial assurance.