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Getting to Grips with Mining Insurance Rates
Getting to Grips with Mining Insurance RatesThe South African mining industry is facing a unique set of challenges in the form of the cost and unreliability of electricity supply, disruption and destruction of equipment, an unstable regulatory and legal framework in addition to the possibility of a Coronavirus black swan event that could devastate the mining sector. Coupled to this, the mining insurance sector has been particularly hard hit by claims related to natural catastrophes, strikes and riots, equipment failure and fires over the past three years. This is according to Paul Pryor, Aon’s Global Mining Practice Leader. “Mining insurance rates steadily decreased from 2011 to 2016, however with a returned loss ratio of >100% for the mining insurance market in 2017 and 2018, rates levelled out in late 2017, increased by single digits in 2018 and with double digits in 2019. As a result, underwriters have become
Aurecon plays a vital role in ensuring water security for South Africa
Aurecon plays a vital role in ensuring water security for South AfricaWater security appears regularly in the top five global economic risks, according to the World Economic Forum. With increasing pressure from population growth and the need for water to support economic growth, South Africa’s water security is increasingly at risk. Additional threats are posed by
Global teamwork procures masks for Cummins employees in China
Global teamwork procures masks for Cummins employees in ChinaPutting their job skills to work, Cummins employees from Johannesburg to Columbus, Indiana in the US sprang into action in February, and procured more than 500 000 protective masks for their fellow employees in China. Chinese residents must wear respiratory masks when in public as the first line of defence
Bobcat Shop to offer unique merchandise at NAMPO 2020
Bobcat Shop to offer unique merchandise at NAMPO 2020Bobcat Equipment South Africa will host a special Bobcat Shop at the Goscor Group stand at Grain SA’s NAMPO Harvest Day from 12 to 15 May in Bothaville in the Free State. Here visitors to the premier agricultural expo will be able to buy specially-branded Bobcat merchandise. This will be the
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What is a water audit and why does your mine need one?
What is a water audit and why does your mine need one?
Mines use a lot of water for their operations, and this can be detrimental to the environment, especially if water is being wasted or misused without your
What to Consider When Hiring Equipment
What to Consider When Hiring Equipment
When you are hiring equipment for your next construction project, there are certain things that you should consider. And this is especially true of crane
How to Apply for Mining Finance
How to Apply for Mining Finance
Financing your mining project can be expensive. This is especially true if you will be using your own funds to start it off. But you can also apply for
Top Tips for Improving Welding Safety
Top Tips for Improving Welding Safety
As a welder, you have to ensure that you are safe when operating your equipment. This is because there are extreme risks to your health involved with your
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