Mining & Quarrying

A production blackout at an underground mine is not a nuisance. It stops the hoist, kills the ventilation, locks dewatering pumps, and puts crew in darkness. Every hour the mine is dark is production that cannot be recovered. Surface quarry operations face a different version of the same math: crushers, screens, conveyors, and wash plants are load-dense equipment running on three-phase power, and a grid outage in a rural county with aging infrastructure can sit for hours before the utility responds. Prime-power and standby generators are not optional in these environments.

We finance generator sets for mining and quarrying operations from $50k to well into the millions, covering everything from a 500 kW diesel standby protecting a processing plant to a paralleled prime-power installation running an off-grid exploration camp. New Tier 4 Final units, used equipment with documented service history, and refurbished sets all qualify. B and C credit is considered. We work off three months of bank statements for most transactions and fund in one to two weeks.

The scale and location variability of mining power requirements means there is rarely a standard answer. We have financed conventional diesel gensets in granite quarries, natural-gas-fueled prime-power packages at wellpad mines, and containerized portable installations for remote exploration sites. Tell us the load, the site, and the equipment and we will structure from there.

Underground metal mines typically require continuous power for ventilation fans, drainage sumps, and hoisting systems. A loss of ventilation is a regulatory shutdown event, which means the standby or prime-power generator protecting that load is mission-critical infrastructure, not a convenience. Surface coal and aggregate operations run similarly critical loads on conveyors, crushers, and dust-suppression systems. Those loads are not small: a typical aggregate crushing plant pulling 1,000 kW to 3,000 kW of three-phase power needs generation to match, and grid reliability in rural mining corridors is often below what the operation can tolerate.

Prime power generators handle the base load when the site is fully off-grid or the grid connection is unreliable. Standby generators act as backup when a utility feed exists but cannot be trusted for critical loads. Many mining sites run both: utility as primary with standby protection for ventilation and hoisting, plus a dedicated prime-power unit for processing equipment where momentary outages cause mechanical problems downstream.

Paralleling is common at larger installations. Running two or three mid-size units in parallel rather than one very large unit provides N+1 redundancy, allows maintenance without full outage, and lets the operator right-size power to actual production load rather than running a large unit at low percentage of rated load (which accelerates wear and fuel burn). We finance paralleling generator systems and the associated control switchgear as a package.

Aggregate quarries (crushed stone, sand and gravel, limestone) operating in rural areas with poor grid reliability. Underground metal mines where ventilation and dewatering are life-safety loads. Coal mining operations in Appalachia and the Illinois Basin where processing plant power demands are high and grid voltage quality is inconsistent. Copper and gold operations in the Southwest where remote mine sites have no grid access. Potash and phosphate operations in the Plains states. Rare earth and industrial mineral operations at elevation in the Mountain West where grid infrastructure is thin.

Exploration and drilling campaigns need portable or towable power that can move as the camp moves. Towable generator sets in the 100 kW to 500 kW range are the typical choice for these deployments, and they hold residual value well because the rental market absorbs them when the campaign is over. We finance those acquisitions whether the company intends to own long-term or sell at project end.

Mining support contractors (contract miners, drilling contractors, blasting crews) also operate generator-dependent mobile camps and need portable power independent of site infrastructure. If you are a contractor rather than a mine owner, your financing application is structured around your contract revenue and equipment utility, which we understand from bank statements better than from a formal income statement.

Three months of business bank statements is the core of the application for most transactions under $400k. We look at revenue volume, consistency, and the absence of chronic overdrafts. Mining revenue is often lumpy due to commodity price cycles and seasonal permitting windows, and we account for that rather than treating an uneven month as a disqualifier.

For transactions above $400k we may ask for one year of federal tax returns to verify revenue scale. Large mine operators with complex entity structures should be prepared to provide operating company statements rather than consolidated holdco financials, since the equipment and the cash flow need to be in the same entity for underwriting purposes.

Credit quality in mining varies widely. Capital-intensive operations carry leverage. A company with prior delinquencies from a commodity downturn but strong current cash flow is not automatically declined. We look at the whole picture. B and C credit financing is a real product we fund, not a bait-and-switch pitch to collect applications.

Used equipment appraisal matters more in mining than in many industries because the equipment has often worked hard. We factor OEM, hours, service records, and Tier status into our assessment of collateral value. A Caterpillar or Cummins unit with documented service history at low hours commands a materially different advance than an unknown-brand unit with no paperwork.

Mining companies frequently own substantial generation infrastructure outright, either because it was purchased with project capital years ago or because it was inherited with a site acquisition. That iron has equity in it. A sale-leaseback on paid-off generation equipment can recapitalize that equity for permitting costs, new equipment purchases, or working capital during low-commodity periods without selling the asset or giving up operational control.

Refinancing existing notes on generators is also common when an operation has improved its credit profile since the original purchase or when a lender has exited the sector. We take over existing equipment notes and restructure them on current terms. The mine keeps the equipment, the payment may go down, and the term resets to match the remaining economic life of the asset.

Tell us the kW requirement, the application (standby, prime, portable), and the site. We will have a quote in front of you within 24 hours. Mines and quarries cannot afford slow money. We close in one to two weeks, start to funding. B/C credit welcome. $50k floor.

Apply online or call. Get power on before the next shift.