NewBridge Services has provided risk evaluation services and loss mitigation to the surety industry for more than 30 years. Our company helps structure manageable bonding programs and provide ongoing monitoring of the process.
- Mine sites monitoring for projects bonded through Cumberland Surety to ensure compliance with reclamation requirements and identify any potential operational issues that may eventually lead to surety losses developing. With more than 200 years of direct experience in mining reclamation operations under applicable state and federal laws, NewBridge’s expertise is unequaled in the United States.
- Developing and managing large reclamation workout programs. The company functions as a program architect, consultant, and/or general contractor in situations where significant reclamation obligations need resolution to allow acquisition, merger, or bankruptcy.
- Performing risk evaluation and loss mitigation to the surety industry by structuring manageable bonding programs and ongoing monitoring of the programs.
Over the past 12 years, NewBridge has engineered solutions for a variety of projects that required resolution to problematic reclamation obligations. These include:
- Lodestar – A project involving reclamation of 20 different sites over 4.5 years as a cost of $8.5 million. The resolution of this project earned NewBridge the 2010 Commissioner’s Award for Excellence in Reclamation.
- Elgin Mining – A $6.9 million project involved nine permitted sites that required 18 months to complete. On one site, NewBridge planted more than 300,000 trees to rehabilitate an area where traditional reclamation efforts by others had failed.
- Manalapan – A $2.7 million project that involved 11 permits. The project was completed and accepted in seven months.
NewBridge also has performed formal analyses of operator’s exposure for Chas Coal, Appalachian Fuels, Trinity Coal, and Utica Insurance Company. The reports proved instrumental to the resolution of questions around sale, merger and reclamation obligations.