Mining and Energy

Renewable Energy Guarantees: South Africa growth is severely hindered by the inability of Eskom to provide continual supply of electricity demand. In keeping with GM Financial Services culture of solutioning our clients, we are able to provide insurance backed capacity guarantee for renewable projects big or small. The Typical Guarantees/Bonds required are, Preferred Bid Bonds, Performance, Retention Guarantees and Advance Payment Guarantees.

Mining Rehabilitation Guarantees: The Department of Mineral Resources (DMR) requires provision for the closure of a mine and the associated rehabilitation cost. Under the National Environmental Management Act and the Mineral and Petroleum Resource Development Act it is required that a mine must make provision for a mine’s closure and rehabilitation from day one. A Mining rehabilitation guarantee can therefore be issued to assist with the legislation requirement at inception based on the structure of funds that accumulates over the lifetime of the mine. This reduces the startup cost required.