MN HF2642

Requires nonferrous mine operators to provide financial assurance sufficient to cover closure, corrective action, reclamation, and postclosure maintenance costs as a condition of permit issuance.

Financial assurance must include reasonably estimated costs of constructing, operating, and maintaining water treatment facilities needed to comply with environmental requirements after mining ceases.

Prohibits Commissioner of Management and Budget from accepting corporate guarantees, self-insurance, financial tests, captive insurance, or similar forms as financial assurance if they may become unavailable upon operator default.

Restricts release of water treatment cost assurance until discharge ceases for five years (with ongoing monitoring) or operator meets all effluent limitations and water quality standards without treatment for five consecutive years post-closure.

Requires environmental impact statements for nonferrous mining operations to include analysis and estimates of required financial assurance for each alternative, covering best-case, worst-case, and most likely scenarios.