Compare? A means (such as insurance, guarantee, surety bond, letter of credit, or qualification as a self-insurer) by the operator of a facility such as a landfill to assure financial capability for cleaning up possible environmental releases and closure of that facility.
The NMED and MMD are required to obtain a financial assurance bond to ensure that the state is able to perform the necessary activities in accordance with the approved reclamation and closure plan in the event Molycorp fails to complete its reclamation responsibilities. The financial assurance requirements for both agencies are contained in their statutes. Molycorp is required to put in place a financial assurance bond "...in the amount of $129,000,000 for the cost of a third party to implement the preliminary closure plan... The instrument shall provide that if at any time after closure, Molycorp is unable, unwilling, or otherwise fails to properly operate and maintain its water treatment and seepage capture system, then $36,000,000 shall be placed in a trust fund to provide sufficient funding for long-term water treatment including treatment plant and seepage capture system construction, operation and maintenance, chemical additives, and monitoring." - DP-1055