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SAVANNAH, Ga. (AP) 鈥� A company that has spent years battling conservationists as it seeks a permit to mine outside the Okefenokee Swamp and its federally protected wildlife refuge needs to do just one thing before regulators make a final decision: set aside $2 million for future restoration of the mining site.

Sixteen months after being notified of the requirement, Twin Pines Minerals still hasn’t submitted a surety bond or equivalent financial assurance to show the Georgia Environmental Protection Division that it has access to that amount of cash or credit.

That’s brought an unexpected halt to a project that appeared on the cusp of winning final approval early last year. Georgia regulators issued draft permits in February 2024 despite warnings from scientists that mining so close to the Okefenokee National Wildlife Refuge could irreparably harm a national treasure.

Twin Pines of Birmingham, Alabama, has worked since 2019 to obtain permits to mine titanium dioxide, a pigment used to whiten products from paint to toothpaste, less than 3 miles (5 kilometers) from the southeastern boundary of the Okefenokee refuge near the Georgia-Florida line.

Within days of the draft permits being approved, Georgia regulators informed Twin Pines in a letter that it needed to submit a $2 million bond, cash or letter of credit that can be used as needed to pay for restoration of the 820-acre (332-hectare) site.

Regulators have finished reviewing thousands of public comments that poured in a year ago regarding the mining project in Georgia’s Charlton County, said Environmental Protection Division spokeswoman Sara Lips. Now they’re waiting on Twin Pines before moving forward.

鈥淭he financial assurance is the last piece of the permit package that will then get routed to our staff, up to the director, to make a final decision,” Lips told The Associated Press. She said Twin Pines faces no deadline to put up the money.

Twin Pines President Steve Ingle declined to comment through a company spokesman. Ingle has insisted Twin Pines can mine without harming the Okefenokee. State regulators have agreed, concluding last year that mining should have a 鈥渕inimal impact鈥� on the refuge.

The mining company’s failure to set aside the $2 million after well over a year has opponents questioning whether it has the resources to mine responsibly in an ecologically sensitive area.

鈥淲hen we鈥檙e talking about the potential damage of this mine, it goes way beyond $2 million,” said Peter Slag, an attorney for the Southern Environmental Law Center. 鈥淚t’s sort of an alarm bell that they probably don鈥檛 have the money to do other sorts of compliance and capital investment.鈥�

The Okefenokee is the largest U.S. refuge east of the Mississippi River, covering nearly 630 square miles (1,630 square kilometers) in southeast Georgia. It is home to abundant alligators, stilt-legged wood storks and more than 400 other animal species.

Scientists have warned that mining near the Okefenokee鈥檚 bowl-like rim could damage the swamp鈥檚 ability to hold water and increase the frequency of withering droughts.

There are other signs Twin Pines may be struggling financially.

Danish shipping company Lauritzen Bulkers sued Twin Pines in federal court in Colorado last October, saying it’s owed $9.3 million after contracting with Twin Pines in 2022 to transport minerals to Asia. A judge paused the case in April, at the shipper’s request, amid arbitration proceedings.

Twin Pines’ attorney in that case, Joseph Martinez, did not immediately return email messages seeking comment.

In March, a second company sued Twin Pines in a California state court. M&L Commodities says Twin Pines owes it $5.6 million stemming from a 2021 contract for M&L to store minerals for the mining company. Twin Pines denies wrongdoing in legal responses filed in court.