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Petition No. 2001-08

LCB File No. R089-01

Date Received by Commission: 07/13/2001

Summary: Mining Reclamation Surety Bonding Technical Changes

Current Status: Codification completed 12/19/01 by LCB

Nevada Administrative Code: 519A.010 to 519A.415

Permanent Adoption/Hearing: 09/18/2001

Temporary Adoption: N/A

Effective/Filed: 10/25/2001

Codified by LCB: 12/19/2001

Petitioner: NDEP / Bureau of Mining Regulation & Reclamation

Description of Petition:

Petition 2001-08 (LCB R089-01) permanently amends NAC 519A.350, reclamation of land subject to mining operations or exploration projects. The amended regulations provide minor changes regarding surety bonding by allowing up to 75% of the required surety to be satisfied by the corporate guarantee, based upon periodic review by the administrator. The amendments also require that the financial information submitted comply with U.S. Generally Accepted Accounting Principles and that the financial statements submitted be audited.

Annotated History of the Petition:

Petition 2001-08 was received on 7/13/01, placed before the SEC on 9/18/01, adopted and filed with Secretary of State on 10/25/01 by LCB as a permanent regulation. Codification completed 12/19/2001 by LCB.

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