Colorado One Site Prospecting Financial Warranty Surety Bond
To conduct prospecting activities in the State of Colorado, an individual or business must file a Notice of Intent (NOI) to conduct Prospecting Operations and provide a One Site Prospecting Financial Warranty Surety Bond for the prospecting operations to the Mined Land Reclamation Board. The bond amount is to be equal to or greater than $2,000.00 per acre of land to be disturbed or as otherwise required by the division based upon the projected reclamation cost.
Prospecting is defined as the act of searching for or investigating a mineral deposit. It includes but is not limited to sinking shafts, tunneling, drilling core and bore holes and diggin pits or cuts and other works for the purpose of extracating samples prior to the commencement of development or extraction operations, also the building of roads, access ways, and other facilities related to such work.
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