The problem with obtaining a new permit - the company first needs a reclamation bond - which for surface mining is very expensive - and in most cases it is a cash bond - unless the mining company has been in. Business long enough to belong the "mining pool" which would reduce the cost of the bond.
If the Rio permit was suspended because they didn't do the reclamation - good luck getting the permit reinstated.
Mining is very expensive - but 66,000 short tons per months is a small to medium sized mining operation.
Although I think it is more pinkyland fantasy nonsense - and the press release might have been from a noteholder.
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