LEENTIE SMIT Cenviro Solutions is confident that it can add value to any mining house in South Africa requiring a flexible, cost-effective and customised solution
Underwriting managing agent Cenviro Solutions, which is underwritten by its parent company Centriq Insurance Company, will for the third consecutive year exhibit at the Investing in African Mining Indaba, to be held at the Cape Town International Convention Centre from February 4 to 7.
The company will exhibit along with financial services company Santam’s bonds and guarantees division, and life insurance company Sanlam.
“We are excited about the prospect of interacting with existing and potentially new clients, as well as attending the various debates and dialogues among key professionals in the mining industry,” Cenviro Solutions MD Leentie Smit tells Mining Weekly.
Cenviro Solutions structures solutions for mining rehabilitation guarantees tailored for the South African market, aligning them with the country’s relevant legislation. The National Environmental Management Act requires companies to make financial provision for the rehabilitation of ground disturbed through mining activities. The company’s solutions are customised to take into consideration a client’s existing financial and operational requirements.
Smit notes that Cenviro Solutions is keen on exploring the possibility of securing business in neighbouring States. However, the company is mindful that the legislation of such countries does not always require rehabilitation guarantees, but merely that financial provisions are made through a ‘restricted investment’ on their balance sheet. In cases where financial guarantees are required, the financial guarantee wording has posed challenges, as they have not been finalised by the respective countries’ authorities, she adds.
Cenviro Solutions prides itself on structuring optimal solutions that consider the relevant legal, tax and accounting treatments, cash flow requirements and, ultimately, the maximisation of investment returns on the underlying funds required for the mining rehabilitation obligation, she enthuses.
“We are confident that we can add value to any mining house in South Africa requiring a flexible, cost-effective and customised solution.”
Further, the company ensures that it is up to date on any legislative changes that might affect clients in terms of financial provisioning. Any proposed regulatory changes are actively debated and scrutinised to ensure that Cenviro Solutions does its utmost as a service provider to assist in achieving a workable and fair set of regulations for the financial provision obligations, Smit points out.
Meanwhile, she notes that the company, as an emerging mining rehabilitation guarantee provider, has greatly benefited from exposure gained at previous Indabas, adding that the company gained multiple leads from the Indaba in the past, which have resulted in the forging of strong business relationships.
Smit is confident that the mood of the Indaba will be upbeat and positive. Clarity around and the finalisation of the Mining Charter III will result in discussion on the continued contribution of mining to the South African economy, she suggests.
“Through the many business networking platforms offered at the Indaba, it is not difficult to interact with your target market and arrange meaningful and productive discussions to address the needs of mining clients,” she concludes.