Prior to the commencement of mining, an operator shall submit a surety to the Board of Minerals and Environment a surety department, to be held under the authority of the board. If a mining operation was licensed prior to July 1, 2024, the surety required by this section must, through June 30, 2026, be in the amount of five hundred dollars per acre 25 of affected land. In lieu of filing a surety for each operation, the operator may post a or twenty thousand dollar surety for dollars for the statewide mining of sand, gravel, or rock to be crushed and used in construction any material listed in § 45-6-65. Beginning July 1, 2026, the surety for a mining operation that was licensed prior to July 1, 2024, must be in the amount of three thousand eight hundred and fifty dollars per acre of affected land or five hundred thousand dollars for the statewide mining of any material listed in § 45- 6-65. If a mining operation is licensed on or after July 1, 2024, the surety required by this section must be in the amount of three thousand eight hundred and fifty dollars per acre of affected land or five hundred thousand dollars for the statewide mining of any material listed in § 45-6-65. If a corporate surety bond is required, the bond shall must be signed by the operator, as principal, and by a surety insurer certified under chapter 58-21. In lieu of the required surety, the operator may deposit provide to the department, to be held under the authority of the board: (1) An irrevocable letter of credit; (2) A cash or a deposit; (3) A certificate of deposit made payable to the individual and to the board; or government (4) Government securities with the board in an amount equal to that of the required surety. The surety shall must remain in effect until the affected land has been reclaimed, the reclamation is approved by the board, and the surety is released by the board.