State Reduces Bonding Requirement by $2 Million
New Mexico Energy, Minerals and Naturals Resources Department
Santa Fe, Jul 30, 2010
Freeport-Mcmoran, Inc. Mine Credited for Reclamation Work
SANTA FE, NM - The State of New Mexico approved a $2 million bonding requirement reduction for Freeport-McMoRan Tyrone Mine for completed reclamation work on closed tailings impoundments. The approval was granted by the New Mexico Energy, Minerals and Natural Resources Department and the New Mexico Environment Department. This is the fifth reduction in five years for the Tyrone Mine, which has now reduced its bonding requirements by over $85 million. The total amount of financial assurance for the closure/closeout of the Tyrone Mine after approval of this permit modification is $185 million, down from the original amount of over $270 million. Press Release