Bonding Reclamation
nounPronunciation: /ˈbɑndɪŋ ˌrɛkləˈmeɪʃən/
Financial assurance required by regulatory agencies for mine operators to guarantee completion of reclamation activities if the operator defaults or abandons the site. Bond amounts are calculated based on estimated reclamation costs and may be held for years or decades.
Plain English
Money operators must set aside to guarantee mines will be cleaned up even if the company fails.
Etymology & History
Usage
"The permitting authority required bonding reclamation in the amount of two million dollars for the surface mine expansion."
Style guide notes: Always specify bond type (cash, letter of credit, self-bonding) and regulatory agency requiring it.
Also known as
Contrasted with
Related Terms
Frequently Asked Questions
How is bonding reclamation amount calculated?
Based on estimated reclamation costs including site preparation, revegetation, water treatment, and monitoring.
When is bonding reclamation released?
After successful reclamation completion and regulatory approval, typically following multi-year monitoring periods.
Why Test Candidates on This?
Bonding reclamation understanding is essential for project managers and environmental consultants in permit and cost planning.
Required skill level: Mid