The Bureau of Land Management NEWS |
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The Bureau of Land Management NEWS |
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Last updated: 04/04/03
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To ensure better reclamation of public lands damaged by hardrock mining activities, the Bureau of Land Management today published a final rule requiring hardrock mining operators on BLM lands to be bonded for the full amount of their projected reclamation costs. Under the rule, published in today's Federal Register, all parties engaging in hardrock mining or exploration on BLM-managed lands must maintain bonds or financial guarantees showin g that they can cover the full cost of restoring land that has been disturbed by their activities.
The rule does not apply to "casual" hardrock activities, such as rockhounding and geologic mapping. Hardrock minerals include gold, silver, copper, and diamonds.
"This final rule will advance the BLM's mission of protecting the public against unfunded liabilities," said BLM Interim Director Sylvia Baca.
Under the BLM's old policy, the agency required the bonding of only "plan-level" operators whose mining-related activities disturbed more than five acres of public land. The agency did not require bonds for "notice-level" operators whose activities distu rbed five acres or less. The new rule requires all mining and exploration operators, regardless of how much acreage will be affected, to maintain bonds or financial guarantees that cover the entire amount of projected reclamation costs.
To help mid- and small-size mining operators, who may experience difficulty in securing bonding, the final rule will expand the types of financial instruments they may use to meet the requirements of the regulations. In addition to cash, surety bonds, an d negotiable United States securities, the BLM will now accept certificates of deposits, irrevocable letters of credit, and market-based securities, among others. The BLM will also continue to allow Statewide and nationwide bonding.
"We encourage mining operators on BLM-managed lands to carry out their activities in a manner that minimizes land disturbance as much as possible," Baca said. "That will work not only to their own financial advantage, but also to the benefit of America's taxpayers, who own the public lands. Through this rule, the BLM will continue its progress in ensuring the health and productivity of these lands for current and future generations."
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