MN SF2024

Requires nonferrous mine operators to provide financial assurance sufficient to cover closure, corrective action, reclamation, postclosure maintenance, and long-term water treatment costs as a condition for obtaining a mining permit.

Financial assurance must include estimated costs for constructing, operating, and maintaining water treatment facilities needed after mining ceases to meet federal and state environmental requirements.

Prohibits the Commissioner of Management and Budget from accepting corporate guarantees, self-insurance, financial tests, captive insurance, or other forms that may become unavailable if the operator defaults on permit obligations.

Water treatment financial assurance cannot be released until discharge has ceased for five years (or operator meets effluent standards without treatment for five consecutive years following mine closure), and requires public notice of any proposed release in the State Register and Environmental Quality Board Monitor.

Establishes that permittees and any parent entities or affiliates materially participating in nonferrous mining operations are responsible for complying with mining regulations and permit conditions.