The coal mining insurance market is experiencing the perfect storm – it’s shrinking, and ESG and reputational risk are huge worries for insurers. Therefore, insurance pricing is soaring.

That’s why The Wooden Chair is introducing the coal mining mutual. A solution entirely controlled by its members (and managed by our team for its members) that can pay claims incurs no insurance premium tax and has no capital requirement.

In addition to traditionally insuring risks for a coal mine, a mutual also provides cover for risks that can’t be insured. The structure operates on a primary, first-dollar basis, allowing us to access excess capacity from the traditional insurance market should it be available or be deemed a viable solution.

It’s not a quick solution. It takes time to establish, requiring a six-month lead time ahead of an insurance renewal date. Therefore, if you’re interested, get in touch as soon as possible.

There is no doubt that mine development can be capital-intensive. When it comes to financing your operation, various solutions are available, such as production-based finance, private equity, debit finance, loans, and even cryptocurrency and crowdfunding.

However, The Wooden Chair can offer surety bonds to support your finance applications, guaranteeing unmined minerals.

All mines are different and need different equipment, from surface equipment to underground drills, blasting tools, earth movers and crushers.

Using the combined reach of our stakeholders, The Wooden Chair can source, supply, and operate machinery and equipment to develop most mines.

Congratulations, your feasibility study is complete, and you’ve gained provisional interest to finance. Now, you must design the mine for maximum efficiency and profitability with ESG in mind.

Our stakeholders have been there and faced the same dilemmas. Let their experience help you take the next steps to smooth your path.

Our stakeholders can help you do more for less by focusing on innovation using end-to-end digitisation. Yes, data is the answer. Making the most of real-time data will help you enhance your scheduling and processing approach and maximise your equipment utilisation.

Digitisation facilitates increased automation and mechanisation, leading to significant productivity performance enhancements.

How are you going to maximise your return on production? With our help, of course. We can help you secure the best pricing for all your hard work.

Our stakeholders are buyers of minerals and precious metals, but let us know what you have, and we’ll do our best to improve your returns.

Even if your offtaker provides logistics as part of their agreement, it doesn’t mean you have no exposure.

You must also consider what liability the logistics company has to the offertaker. Do they co-mingle shipments? Are they insured adequately?

You need a practical review of contracts between you and offtakers to highlight areas of concern that can be mitigated with risk management and insurance. We can do that.