Company: RNGE
Filing Date: 2025-03-31
Form Type: 424B3
Source: 0001641172-25-001863
Chunk: 7

Company: RANGE IMPACT, INC.
Filing Date: 2025-03-31
Form: 424B3
Chunk 7
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50,000 high-priority abandoned mine land locations in the United States resulting from legacy coal mining operations that failed to adequately reclaim the land and waterways back to their natural state as required by federal regulations. Additionally, there are tens of thousands of active mine sites in the United States that require contemporaneous reclamation of land and waterways during the active mining process, and an estimated equally large number of idled mine locations that also require significant land reclamation and water restoration.

Under
the Surface Mining Control and Reclamation Act of 1977 (“SMRCA”), OSMRE was established for two basic purposes: (i) to ensure
coal mines in the United States operate in a manner that protects citizens and the environment during mining operations and to restore
the land to beneficial use following mining, and (ii) to implement an Abandoned Mine Land (“AML”) reclamation program to
address the hazards and environmental degradation resulting from two centuries of coal mining activities that occurred before SMRCA was
passed in 1977. The AML reclamation program is funded through fees levied against coal producers based on tons of coal produced. As of
September 2020, the AML reclamation fund had collected a total of $11.7 billion in coal mining fees over the life of the program, with
$9.5 billion (81%) appropriated and distributed in accordance with SMCRA, and $2.2 billion (19%) unappropriated and available for future
disbursement. In November 2021, the Infrastructure Investment and Jobs Act was enacted, which, among other things, authorized $11.3 billion
in new funding to be appropriated for deposit into the AML reclamation fund. The AML reclamation fund is only available to help fund
the reclamation of mines abandoned before SMCRA was enacted in 1977, and therefore, all mines abandoned after the year 1977 cannot access
funding from the AML reclamation fund and must obtain funding from other sources.

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While much of the funding for this reclamation work comes from the federal government, each state in Appalachia has a Department of Environmental Protection (“DEP”) or an equivalent agency that oversees coal mining permitting, operations, and reclamation. Under DEP rules and regulations, coal mining companies are required to develop a mining and reclamation plan that is approved by the applicable state agency, obtain a mining permit from the state, and secure a reclamation surety bond from a qualified third-party