As a condition precedent to the issuance of a New York mining permit, each applicant must furnish a New York reclamation bond which is conditioned upon conformance with the applicant’s mined land-use plan. The Department of Environmental Conservation will accept a blanket bond for the total amount of the financial obligation in lieu of individual bonds for each mine location for those operations with more than one mine. The amount of the New York reclamation bond is determined by the Department and is based on the total estimated cost to the State for completion of reclamation consistent with the minimum basic reclamation requirements as described in section 422.3(b) of the reclamation laws. Reclamation bonds are typically unattractive to surety companies because they are often very long term, non-cancelable obligations. Surety One, Inc., the nations leader in surety is a bonding resource for any operation requiring reclamation bonding. We offer reclamation bond capacity for oil, coal, uranium, metal mining, and hydraulic fracturing “fracking”. We will write these for ALL state departments of environmental protection, Railroad Commission of Texas, and federal Bureau of Land Management. Visit us at www.ReclamationBonds.com, call (787) 333-0222 or (800) 373-2804, or email Underwriting@SuretyOne.com for a New York reclamation bond application materials or further information regarding surety bonding.
