FINANCIAL ASSURANCES FOR CORRECTIVE ACTIONS, CLOSURE AND POST CLOSURE

The following sections are included:

• INTRODUCTION

  • FINANCIAL ASSURANCES AND THE MINE LIFE CYCLE

• FEDERAL GOVERNMENT PERSPECTIVES

  • POLICY ISSUES

  • THE PUBLIC’S DESIRES

  • HISTORICAL PERSPECTIVE OF FINANCIAL ASSURANCES

  • CURRENT SITUATION

  • EPA CONSIDERATIONS

  • OUTLOOK FROM BLM’S POSITION

• ESTIMATING THE ASSURANCE REQUIREMENT

• TYPES OF FINANCIAL ASSURANCE INSTRUMENTS

  • SURETY BONDS

  • STANDBY LETTERS OF CREDIT

  • INSURANCE

  • SELF GUARANTEES

  • ESCROW ACCOUNTS

• COVERAGE MECHANISMS

  • LIFE OF PROJECT

  • STATEWIDE AND/OR BLANKET GUARANTEE

  • PHASED BONDING

• FINANCIAL GUARANTEE DISTRIBUTION MECHANISMS

  • PROJECT BOND RELEASE

  • PHASED RELEASE

• RELEASE CRITERIA

• CREDIT RISK EVALUATION AND OBLIGATIONS

• COMMERCIAL BANKING ASPECTS

  • CERTIFICATES OF DEPOSIT

  • STANDBY LETTERS OF CREDIT

  • EFFECT OF 1992 REGULATIONS

  • TRENDS IN THE BANKING INDUSTRY

• PUBLIC ACCOUNTING ASPECTS

  • RECORDING OF COSTS

• METHODS FOR REDUCTION OF FINANCIAL (BONDING) OBLIGATIONS

• CONCLUSION

• REFERENCES