Section 45-6-71 - Security required--Amount--Conditions--Alternatives

45-6-71. Security required--Amount--Conditions--Alternatives.Prior to the commencement of mining, an operator shall submit a surety to the department, to be held under the authority of the board.If a mining operation was licensed prior to July 1, 2024, the surety required by this section must, through June 30, 2026, be in the amount of five hundred dollars per acre of affected land or twenty thousand dollars for the statewide mining of any material listed in §45-6-65.Beginning July 1, 2026, and continuing through June 30, 2027, the surety for a mining operation that was licensed prior to July 1, 2024, must be in the amount of one thousand five hundred dollars per acre of affected land or one hundred thousand dollars for the statewide mining of any material listed in §45-6-65.Beginning July 1, 2027, and continuing through June 30, 2029, the surety for a mining operation that was licensed prior to July 1, 2024, must be in the amount of two thousand seven hundred and fifty dollars per acre of affected land or two hundred thousand dollars for the statewide mining of any material listed in §45-6-65.Beginning July 1, 2029, the surety for a mining operation that was licensed prior to

acre of affected land or two hundred thousand dollars for the statewide mining of any material listed in §45-6-65.Beginning July 1, 2029, the surety for a mining operation that was licensed prior to July 1, 2024, must be in the amount of three thousand eight hundred and fifty dollars per acre of affected land or three hundred thousand dollars for the statewide mining of any material listed in §45-6-65.If a mining operation is licensed on or after July 1, 2024, the surety required by this section must be in the amount of three thousand eight hundred and fifty dollars per acre of affected land or three hundred thousand dollars for the statewide mining of any material listed in §45-6-65.If a corporate surety bond is required, the bond must be signed by the operator, as principal, and by a surety insurer certified under chapter 58-21.In lieu of the required surety, the operator may provide to the department, to be held under the authority of the board:(1)An irrevocable letter of credit;(2)A cash deposit;(3)A certificate of deposit made payable to the board; or(4)Government securities.The surety must remain in effect until the affected land has been reclaimed, the reclamation is

dit;(2)A cash deposit;(3)A certificate of deposit made payable to the board; or(4)Government securities.The surety must remain in effect until the affected land has been reclaimed, the reclamation is approved by the board, and the surety is released by the board. Source: SL 1983, ch 308, §9; SL 2024, ch 181, §2.