Idaho Administrative Code › Title IDAPA 20 - Lands, Department of › Rule 20.03.02 - RULES GOVERNING MINED LAND RECLAMATION › Section 20.03.02.120 - FINANCIAL ASSURANCE REQUIREMENTS

Current through August 31, 2023
01.
Submittal of Financial Assurance Before Mining
. Prior to beginning any mining on a mine panel covered by a reclamation plan, an operator shall submit to the director, on a Department form, financial assurance meeting the requirements of this rule. (3-18-22)
02.
Submittal of Financial Assurance Before Operating a Cyanidation Facility
. Prior to beginning operation of a cyanidation facility an operator will submit to the director, on a Department form, financial assurance meeting the requirements of Section  47-1512(a)(2), Idaho Code. The financial assurance will be in an amount equal to the total costs estimated under paragraph 071.02.k. and Section  120  of these rules. (3-18-22)
03.
Timely Financial Assurance Submittal
. Financial assurance must be received by the Department within twenty-four (24) months of reclamation or permanent closure plan approval or the Department will cancel the respective plan without prejudice. If financial assurance is not received within eighteen (18) months of a plan approval, the Department will notify the operator that financial assurance is required prior to the twenty-four (24) month deadline. Extensions will be granted by the director for reasonable cause given if a written request is received prior to the deadline. If financial assurance or an extension request is not received by the deadline, the plan will be canceled. The operator must then submit a new plan application and application fee to restart the approval process. (3-18-22)
04.
Phased Financial Assurance
. If the Department approves a reclamation plan or permanent closure plan with phased financial assurance, then financial assurance may increase incrementally commensurate with the additional reclamation or permanent closure liability. After construction and operation of the initial phase has commenced and after filing by an operator of the initial financial assurance, an operator will not construct any component of a subsequent phase or phases of the subject mine or cyanidation facility before filing the additional financial assurance amount that is required by the Board. If phased financial assurance is not authorized, the operator is required to file the financial assurance amount required to complete reclamation or permanent closure of all planned phases prior to any construction of the mine or operation of the cyanidation facility. (3-18-22)
05.
Financial Assurance for Mines with Five (5) or Less Disturbed Acres
. Financial assurance will be a minimum of five thousand dollars ($5,000) per acre unless the operator or the Department determine that the estimated reasonable costs of reclamation require a different amount. No financial assurance may exceed fifteen thousand dollars ($15,000) for a given acre of affected land unless the condition in Subsection  120.07  of these rules have been met. (3-18-22)
06.
Financial Assurance for Cyanidation Facility Affecting Five (5) or Less Disturbed Acres
. The Board may require financial assurance in excess of five million dollars ($5,000,000) if the conditions in Subsection  120.07  of these rules have been met. (3-18-22)
07.
Process for Requiring Higher Financial Assurance
. Financial assurance in excess of the amounts in Subsections  120.05  and  06  of this rule may only be obtained if: (3-18-22)
a. The Board has determined that such financial assurance is necessary to meet the requirements of the chapter; and (3-18-22)
b. The Board has delivered to the operator, in writing, a notice setting forth the reasons it believes such financial assurance is necessary; and (3-18-22)
c. The Board has conducted a hearing where the operator is allowed to give testimony to the Board concerning the amount of the proposed financial assurance, as provided by Section  47-1512, Idaho Code. This requirement for a hearing may be waived, in writing, by the operator. (3-18-22)