STEPHENSON, Mich. Jan. 8, 2018 –Aquila Resources will carry out and pay for all reclamation activities during operations and following mine closure as required by law. As a protective measure for the community, if for some unforeseen reason this cannot happen, the State of Michigan requires mining companies to provide adequate financial assurance.
We are committed and obligated by law to ensure that the costs of reclamation do not fall on the local community or taxpayers. Aquila is required to secure a bond based on the assessed value to have the mine closed and reclaimed by a third party. Every three years, financial assurance will be reviewed to account for any changes in the total reclamation cost. The State of Michigan has full control of the bond until Aquila completes their fiduciary duty.
If you have a question, please email info@backfortymine.wp2.adnetcms.com.