A. Beginning April 1, 1997, as required by this chapter, owners and operators of exploration operations and mining units who create surface disturbances shall provide financial assurance mechanisms to the inspector as provided by this article.

Terms Used In Arizona Laws 27-991

  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Exploration operations: means activities that create surface disturbances outside a mining facility and that are conducted to determine the presence, location, extent, depth or grade of minerals, including constructing access roads and drill pads. See Arizona Laws 27-901
  • Inspector: means the state mine inspector. See Arizona Laws 27-901

B. Allowable financial assurance mechanisms for purposes of this article include any or a combination of the following:

1. Surety bond.

2. Certificate of deposit.

3. Trust fund with pay-in period.

4. Letter of credit.

5. Insurance policy.

6. Certificate of self-insurance.

7. Cash deposit with the state treasurer.

8. Evidence of ability to meet a corporate financial test or corporate guarantees as provided by 40 C.F.R. § 264.143(f).

9. Annuities.

10. Additional financial assurance mechanisms that are acceptable to the inspector.

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