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Website Updates
Western Oregon Plan Decisions Released.
Oregon State Office
Bureau of Land Management 333 S.W. 1st. Avenue Portland, OR 97204 503-808-6002 |
Mining Claims - BLM Financial Assurance (43 CFR 3809.500)
You must provide BLM a financial guarantee before beginning operations under an approved Notice or Plan. The bond amount must cover the estimated cost to contract a third party to reclaim your operations. The BLM Field Office will review your bond cost estimate and if acceptable, the field office will authorize and maintain the bond instrument. The following forms of financial guarantees (bond instruments) are acceptable:
Either of the following instruments having a market value of not less than the required dollar amount of the financial guarantee and maintained in a Securities Investors Protection Corporation insured trust account by a licensed securities brokerage firm for the benefit of the Secretary of the Interior, acting by and through BLM:
Insurance, if its form and function is such that the funding or enforceable pledges of funding are used to guarantee performance of regulatory obligations in the event of default on such obligations by the operator. Insurance must have an A.M. Best rating of "superior" or an equivalent rating from a nationally recognized insurance rating service. |
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