ASM Bond

Requirements for ASM Professionalization Sustainability Bond

1

Minimum ticket size – $50M

  • Expected ticket size is generally $75-125M

2

Aligned governments – local, state and federal

  • Legal frameworks that reflect the realities of ASM
  • Clear confirmed roles and support of various levels of government

3

Anchor partnership – a regional LSM and/or a government partner

  • Supporting the program and potentially participating in offtake schemes

4

Aligned artisanal miners and neighboring communities / local desire to participate

5

Clear scope definition – geography / number of artisanal miners / key stakeholders

6

Conceptual work areas defined (asset classes)

  • Core scope and value areas – examples: equipment for miners, water management, waste management, safety practices, electrification

7

Clear theory of change – outlining theoretical value + impact

  • Not necessarily a detailed ROI & SROI, but either that or close to that combined with an outline of how it is conceptually delivered

8

Clear banking infrastructure definition

  • What commercial banks, development banks and fin techs will be involved

  • Clear alignment on who issues the specific bond

download (PDF)

Upfront ask:

  • Preliminary view of scope, stakeholders and theory of change that supports a $50M+ program that we can collaboratively refine and integrate as detailed alignment and banking elements of the program are validated

Not included in minimum requirements:

  • Detailed program plan / detailed critical path – to be developed post-bond issuance
  • Complete list of which service providers will participate in program delivery – to be confirmed post-bond issuance
  • Complete list of who will buy the bond – we need to know who we will market to
contact us