N.M. Admin. Code § 19.2.2.37
Before commencement of mining activity, the lessee shall execute and provide financial assurance to secure payment for potential injuries to tangible improvements upon the trust surface estate covered by a mineral lease that may result from the lessee's mining activity. The commissioner shall fix financial assurance under this section in an amount not less than five thousand dollars. The financial assurance shall be in favor of the state of New Mexico, but held for the benefit of the state's contract purchasers, patentees and surface lessees with pre-existing rights to the trust surface estate. Provided that, in lieu of said financial assurance, the commissioner may accept a waiver of financial assurance, duly executed or acknowledged by the owners of the improvements.
N.M. Admin. Code § 19.2.2.37