Mining Lease Bonds
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What Are Mining Lease Bonds?
A mining lease bond is a guarantee that a mining company will complete a permitted project according to contract terms. It provides a means of compensation for the regulator if a mining company breaks its contract.
How Much Do Mining Lease Bonds Cost?
Premiums for a mining lease bond cost 1-10% of the bond amount, based on credit score. The bond amount is determined by the size and value of the project you are undertaking. Apply online now and receive a free quote within one business day.
Who Needs a Mining Lease Bond?
The Bureau of Land Management requires anyone planning to develop mineral resources on public lands to be bonded. To receive approval for an application for permit to drill (APD), one of the following individuals must file a mining lease bond:
- Record title owner
- Operating rights owner
- Operator
- Unit operator
How Do Mining Lease Bonds Work?
In order to be certified to break ground on public land, a mining operator must file a surety bond. A mining lease bond creates an agreement between three parties:
- Principal: The operator or person assuming responsibility for the project
- Surety: The surety company providing the bond
- Obligee: The Bureau of Land Management
Multiple public mining projects can be covered under one bond. Check with your local Bureau of Land Management office to ensure the bond amount is sufficient for all of your projects.
How to Get a Mining Lease Bond
By working with SuretyBonds.com, you can experience the fastest and easiest way to get your mining lease bond:
- Apply online at SuretyBonds.com
- Get a free quote within one business day
- Purchase your bond
- File the bond with the Bureau of Land Management
After purchasing, your bond will be mailed directly to you to file with the Bureau of Land Management. You can opt for two-day, next-day or overnight shipping.
How Do I Renew My Mining Lease Bond?
Mining lease bonds require annual renewal. A SuretyBonds.com representative will contact you before your bond expires with renewal instructions.
Here is the simple streamlined process you can expect:
- Pay your premium online or over the phone
- Sign and submit any additional documentation, if required
- File renewal documentation with your obligee, if required
Can I Get a Mining Lease Bond With Bad Credit?
Don’t let poor credit stop you from applying for the bond you need! Our experts work hard to approve 99% of applicants. Plus, we partner with the top providers nationwide to find the best rates possible even if you have low credit. Learn more about our bad credit bonding program.
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