New Mexico Administrative Code
Title 19 - NATURAL RESOURCES AND WILDLIFE
Chapter 10 - NON-COAL MINING
Part 12 - FINANCIAL ASSURANCE REQUIREMENTS
Section 19.10.12.1202 - AREA TO BE COVERED BY FINANCIAL ASSURANCE
Universal Citation: 19 NM Admin Code 19.10.12.1202
Current through Register Vol. 35, No. 6, March 26, 2024
A. The permittee or applicant shall file, with the approval of the director, financial assurance under one of the following schemes to cover the reclamation or closeout plan costs as determined in accordance with 19.10.12.1205 NMAC:
(1)
financial assurance for the approved reclamation plan or closeout plan for the
entire permit area; or
(2)
financial assurance may be provided and approved to guarantee specific
increments of reclamation within the permit area provided the sum of
incremental financial assurance equals or exceeds the total amount required
under 19.10.12.1205 NMAC and 19.10.12.1206 NMAC. The area to be reclaimed and
the amount of financial assurance required for each increment shall be
specified in detail, and the permittee shall comply with the following:
(a) An incremental financial assurance
schedule and the financial assurance required for full reclamation of the first
increment in the schedule shall be provided.
(b) Before mining, exploration or reclamation
operations on succeeding increments are initiated and conducted within the
permit area, the permittee shall file with the director additional financial
assurance to cover such increments in accordance with 19.10.12 NMAC.
(c) The permittee or applicant shall identify
the initial and successive areas or increments on a map submitted with the
permit application and shall specify the financial assurance amount to be
provided for each area or increment.
(d) Identified increments shall be of
sufficient size and configuration to provide for efficient reclamation
operations should reclamation by the director become necessary pursuant to
19.10.12.1211 NMAC.
B. A permittee or applicant shall not disturb any area prior to acceptance by the director of the required financial assurance.
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