How a surety company’s technical expertise can lead to a better bond process
Leading surety providers combine technical and financial expertise
When a surety company’s technical experts and financial underwriters work together, their analysis can produce a comprehensive picture of a mine’s viability. And surety providers with that technical expertise can use their assessment to back projects that other surety providers might skip.
“Our team understands the business from a technical as well as a financial standpoint,” says Joe Poplawski, SVP, National Underwriting Officer, Mining Practice Leader at Argo Group. “When you place a reclamation surety bond with Argo, you’re not just dealing with surety underwriters — you’re talking to other engineers.”
Before Argo Surety issues a reclamation bond, their engineers analyze technical reports, conduct site visits, discuss technical details with the mine’s engineers and review the company’s record and environmental history.
The engineering team at Argo has more than 50 combined years of hands-on experience in all aspects of a mining operation, including permitting, engineering, operations and reclamation. This expertise allows Argo Surety to evaluate a diverse group of mineral operations based on their performance and assets, going beyond the credit-based analysis associated with traditional surety underwriting.
An engaged partner makes for a smoother operation
“We think beyond the complications and risks,” says Brendan Keating, SVP, Chief Operations Officer at Argo. “The more a surety company understands the technical reality, the better it’ll be for the mining org. We have the technical know-how to evaluate an opportunity and understand the economics of a mine holistically.”
And Argo’s partnership continues beyond their initial assessment. Argo’s engineers conduct ongoing site visits and provide feedback to the mine’s operators throughout the lifecycle of a reclamation. They are heavily involved in mining associations and share current information with one another daily.
That level of engagement can yield benefits for mining companies. The more confident Argo Surety is in the success of a reclamation operation, the better the terms and conditions they can offer.
Argo supports sustainability and efficiency
“Argo Surety has a longstanding commitment to the mining industry,” says Keating. “We understand that mining is necessary for how we operate as a global society. The products we use in our daily lives and the future of renewables all depend on mined minerals. We want to work with partners who understand that there is a way to do it responsibly and sustainably.”
“We offer competitive terms for those organizations who meet or exceed the legal requirements established for reclamation,” says Poplawski. “We try to support companies that show us they have the means and the motivation to do solid work.”
“The mining industry has traditionally been underserved,” says Keating. “There’s an opportunity if you look beyond the basics.”
Argo Surety specializes in supporting bonds for commercial surety clients, offering a capacity to support up to $300 million for qualifying customers. The company is eager to expand their operations to work with more mines around the continent and reward the best mining organizations operating today.
“We’re always looking for new partnerships,” says Poplawski. “We want to hear from mining companies, talk through their challenges and discuss how we can help them succeed.”
Click here to start the conversation with Argo Surety and learn how their partnership can help your next mining and reclamation project.
2 Comments
NUMU Bah
Good intervention for mines development
NIBALDO OPAZO ARAVENA
Se vienen para el Futuro una Minería más limpia y sustentables en el Tiempo..