Insurance is not a cure-all for poor risk selection

Insurance is not a cure-all for poor risk selection

Insurance is not a cure-all for poor risk selection

Global mining conglomerates and their insurance and reinsurance partners will have to improve their risk management outcomes to ensure the long-term sustainability of mining insurance, and must follow the advice of their insurers when it comes to loss prevention. “It does not matter what premium you charge for cover nor what terms and conditions you attach to the insurance policy…

Geopolitical tensions impacting mining supply chains

Geopolitical tensions impacting mining supply chains

Geopolitical tensions impacting mining supply chains

Geopolitical tensions impacting on supply chains are increasing volatility in the mining sector, as the industry faces a fairly bleak short-term future. According to Willis Towers Watson’s Mining Risk Review 2018, the mining industry has enjoyed mixed fortunes in the past 12 months and the report authors state that, while there had been some encouraging signs that commodity prices were…

Uganda signs up to renewable energy deal with ATI

Uganda signs up to renewable energy deal with ATI

Uganda signs up to renewable energy deal with ATI

Uganda has become the first African country to sign an agreement with the Regional Liquidity Support Facility (RLSF), a joint initiative of the African Trade Insurance Agency (ATI) and KfW with funding from the German Ministry of Economic Cooperation and Development. Under the programme, the RLSF will offer protection to new small and mid-sized renewable energy projects (up to 50MW)…

Long-tenor political risk insurance kickstarts $1.4bn clean energy investment in Africa

Long-tenor political risk insurance kickstarts $1.4bn clean energy investment in Africa

Long-tenor political risk insurance kickstarts $1.4bn clean energy investment in Africa

An insurance initiative has been launched to provide $1.4bn in additional clean energy investment across Africa. Munich Re, the African Trade Insurance Agency (ATI) and the European Investment Bank (EIB) have created the African Energy Guarantee Facility (AEGF) as the first dedicated reinsurance facility for sustainable energy projects across Africa. The joint initiative will tackle key investment challenges that have…

Oil price unlikely to be affected by geopolitical risk in 2018, predicts Maplecroft

Oil price unlikely to be affected by geopolitical risk in 2018, predicts Maplecroft

Oil price unlikely to be affected by geopolitical risk in 2018, predicts Maplecroft

Oil prices are unlikely to be impacted by geopolitical risk in 2018, according to risk analysis firm Verisk Maplecroft. It said only a serious escalation of troubles on the Korean Peninsula or between Saudi Arabia and Iran would impact the oil market this year, and both events are considered unlikely. However, in a report on the political risk outlook for…

Nigerian oil giant receives 577 bids for insurance programme

Nigerian oil giant receives 577 bids for insurance programme

Nigerian oil giant receives 577 bids for insurance programme

The Nigerian National Petroleum Corporation (NNPC) has publicly opened 577 bids submitted by firms seeking to secure the insurance renewal contract for the corporation’s oil and non-oil assets. NNPC group general manager, risk management and insurance, Modupe Bameke, said that, apart from being a requirement of the Bureau of Public Procurement, the public opening of bids has become part of…

Gas development boost in west Africa

Gas development boost in west Africa

Gas development boost in west Africa

Equatorial Guinea’s Ministry of Mines and Hydrocarbons has signed a memorandum of understanding (MoU) with the government of Burkina Faso, to supply the west African country with liquefied natural gas (LNG) and build critical infrastructure to import, store and transport gas. The initial three-year agreement compels both sides to negotiate and sign a LNG sales and purchase agreement and a…

Guinea mine embroiled in bribery scandal

Guinea mine embroiled in bribery scandal

Guinea mine embroiled in bribery scandal

The UK’s Serious Fraud Office has announced an investigation into “suspected corruption in relation to the conduct of business in Guinea by the Rio Tinto group, its employees and others associated with it”. Last year, global mining giant Rio Tinto had reported itself to the UK regulator after allegedly discovering payments of $10.5m to a contractor, relating to an iron ore project in…

1 2 3 4