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Press Release - MINING.COM

Press Release - MINING.COM
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Bill to preserve mine cleanup funds moves ahead

February 8, 2021
Bill to preserve mine cleanup funds moves ahead
Written by
Geoffrey Plant
on February 8, 2021
The New Mexico House Committee on Energy, Environment and Natural Resources voted unanimously last week to advance a bill that would establish a “Mining Act Forfeiture Fund,” with the aim of ensuring that, in the event a mining company defaults on its promise to clean up a closed mine site, the financial assurance put up by the company would be used “only to complete the reclamation plan or closeout plan to which the financial assurance had been dedicated.”
The bill’s sponsor, District 36 state Rep. Nathan Small, a Las Cruces Democrat, said that he worked with Freeport-McMoRan, environmental advocacy groups, the New Mexico Mining Association and state agencies like the N.M. Energy, Minerals and Natural Resources Department “to ensure this legislation is accepta ....

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