Beginning April 1, 1997, new mining units may begin when both of the following occur:

1. 1. The state mine inspector approves the reclamation plan for the mining unit, or one hundred fifty days after the inspector receives a reclamation plan if the inspector does not notify the owner or operator that the plan submitted is incomplete or denied.
2. 2. Financial assurance has been submitted to the inspector as required by article 5 of this chapter.