Mining bond pool milestone |

Mining bond pool milestone

NNBW Staff

The bonding pool that guarantees reclamation of mining sites in Nevada now tops $1 billion, state and federal officials said.

The bonding program created in 1990 requires financial guarantees of reclamation for mining projects of five acres or more.

The guarantees in force include $613 million in letters of credit, $226 million in surety bonds, $180 million in corporate guarantees, $7.3 million in cash, $2.1 million in bonds administered by the Nevada Division of Minerals, and $2 million in certificates of deposit.


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