Section R11-2-803. Blanket Financial Assurance

A.       A single financial assurance mechanism covering 2 or more mining units or facilities may be provided by an owner or operator instead of separate financial assurances for each unit or facility. If an owner or operator provides a single financial assurance mechanism, it shall demonstrate the financial ability to fulfill the aggregate reclamation costs of the mining units or facilities covered by the single financial assurance mechanism.

B.       If an additional unit or facility is to be covered under a single financial assurance mechanism previously provided to the State Mine Inspector, the owner or operator shall provide an updated financial assurance mechanism which demonstrates the financial ability to fulfill the aggregate reclamation costs of the mining units or facilities covered by the single financial assurance mechanism.

C.       A single financial assurance mechanism covering 2 or more exploration operations may be provided by the owner or oper- ator pursuant to A.R.S. § 27-993.

Historical Note

Adopted effective January 6, 1997 (Supp. 97-1).