The paper deals with the main features of the mining reclamation bonding procedures in Greece. Using a sample of 75 mining operations in Cyclades islands, the analysis intends to highlight the differences in reclamation bonds between the types of mining operations, to estimate the average bond level per type of operation and, finally, to determine the potential reclamation funds available in the form of letters of credit. For comparison reasons, a success case study of a reclaimed mine in the study area is illustrated in order to come up with an estimate of a realistic reclamation and closure cost. The figures indicate that, in general, the average bond level is adequate in covering real reclamation and closure costs. However, there exist some shortcomings regarding mainly administrative procedures, which should be reformed in order to more effectively protect the environment and promote responsible mining practices.
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