Financial assurance requirements for nonferrous permit to mine modification

SF 1383 modifies financial assurance requirements for mining permits in Minnesota, specifically affecting companies seeking permits for nonferrous metallic minerals (like copper or zinc). The bill requires applicants to provide an environmental liability insurance policy covering pollution cleanup costs during mining and reclamation, with the required amount set by the commissioner. It also mandates that the commissioner annually reviews and updates the financial assurance (cash bond or deposit) needed to cover reclamation costs and corrective actions if permits are violated. These changes apply to new permits and permit modifications for nonferrous mining operations.