About MRUM
BACKGROUND
A sector that underwrites the nation.
In the context of mining, rehabilitation refers to the process whereby the damage done by mining operations is repaired to make the land safe and stable. The Mineral and Petroleum Resources Development Act 28 of 2002 (“MPRDA”) is the dominant piece of legislation to consider with regard to mining.
Apart from all the other mining factors considered by the DMR, the EMPR sets out upfront how the Mining Company intends to handle the rehabilitation aspect of the mine, once it has completed its mining activities or during the process of mining. Included in the EMPR are the approximate costs relating to the rehabilitation of the mine.
As per Mineral & Petroleum Resources Development Act No. 28 of 2002, read with National Environmental Management Act No. 107 of 1998, legislation requires that during the life of a mine, or premature closure or at final closure, all mining operations in South Africa require a financial provision to be in place, to guarantee that sufficient funds are available to undertake the rehabilitation of environmental damage caused by mining activities.When a Mining Company applies for a mining permit in respect of a specific mine, part of the approval process to be followed is for the Mining Company to lodge an Environmental Management Programme Report
MANAGEMENT TEAM
Experienced leadership.
A combined 48 years of guarantee underwriting across South Africa and the broader African mining sector.
DIRECTOR
Timothy Paramasivan
Underwriting guarantees in South Africa and across the African continent.
DIRECTOR
Lucien Mundie
Underwriting guarantees in South Africa and across the African continent.
