Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: THURSDAY, July 12, 1990 TAG: 9007120139
SECTION: BUSINESS PAGE: C5 EDITION: METRO
SOURCE:
DATELINE: LENGTH: Medium
Release of a performance bond as reclamation occurs rather than holding the bond until mining is complete, as is currently required, is one of the key incentives in his bill, Boucher said.
The other incentive for companies to re-mine old mine sites is an insurance fund that would assume the responsibility for unexpected environmental problems resulting from previous mining but which occur during the re-mining operation.
Boucher said a fund established by the 1977 federal strip mining law to pay for the reclamation of orphaned mined lands is not adequate to meet the need.
It is estimated that over the life of the fund, only $3 billion will be collected from today's mine operators. That amounts to only a tenth of the $33 million needed to reclaim the 13 million acres coal companies abandoned before the federal law.
Sen. Wendell Ford, D-Ky., has shown interest in introducing similar re-mining legislation in the Senate and has been waiting to see what form the House bill would take, Boucher said.
- Staff reports
***CORRECTION***
Published correction ran on July 13, 1990\ Correction
An incorrect figure was cited in a story Thursday about legislation to encourage reclamation of abandoned strip-mined lands. The story should have said $33 billion would be needed to reclaim acreage abandoned prior to a 1977 federal strip mining law.
Memo: correction