For Additional Information:
John Grasser (202) 463-2651
Karen Batra (202) 463-2651

FOR IMMEDIATE RELEASE
June 15, 2001

THE FOLLOWING IS A STATEMENT FROM JACK N. GERARD, PRESIDENT AND CEO OF THE NATIONAL MINING ASSOCIATION ON THE FINAL RULE PUBLISHED IN TODAY'S FEDERAL REGISTER AMENDING THE FINANCIAL GUARANTEE PROVISION OF MINING'S SURFACE MANAGEMENT RULES:

Washington -- "America's modern mining industry is deeply committed to the environment and wants to ensure that adequate funds are available for restoring mine lands to a condition that is both aesthetically pleasing and productive. Many of today's modern mine sites have been honored by federal agencies and environmental and wildlife groups for their achievements in reclamation and post-mining land use.

"Financial guarantees are required on all major mining operations, and mining companies have routinely posted bonds as standard operating procedure to cover the costs of clean-ups and reclamation on mine sites after the mining is completed.

"The National Academy of Sciences study, 'Hardrock Mining on Federal Lands,' recommended that bonding requirements be expanded to cover all mining activities beyond those classified as casual use, and as we have stated in our formal comments on the hardrock mining (3809) rules to the Department of Interior, the NMA agrees with that recommendation."

The U.S. mining industry produces coal, metals, building materials, and many other essential minerals that define the daily lives of 267 million Americans. The mining industry generates over $500 billion in total economic benefit each year and helps to sustain nearly 5 million U.S. jobs.