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20.01.2020 (833 Clicks)

Recommended Cash Acquisition for Sirius Minerals plc by Anglo American Projects UK limited

The boards of Anglo American plc, Anglo American Projects UK Limited ('Bidco') and Sirius Minerals Plc are pleased to announce that they have reached agreement on the terms of a recommended cash acquisition pursuant to which Bidco shall acquire the entire issued and to be issued share capital of Sirius (the 'Acquisition'). The Acquisition is intended to be effected by means of a scheme of arrangement under Part 26 of the Companies Act.

17.01.2020 (1095 Clicks)

Finalists announced for the 2020 QRC/WIMARQ Resources Awards for Women

A scholarship for an MBA from the Australian Institute of Management (AIM) will go to the winner of the Exceptional Woman category, and all other categories will receive a $5,000 scholarship from AIM.

16.01.2020 (874 Clicks)

Epiroc to consolidate Dimension Stone Industry Equipment manufacturing to India

Epiroc AB, a productivity partner for the mining and infrastructure industries, will consolidate the manufacturing of dimension stone industry equipment to India to increase efficiency. As a result the manufacturing in Italy will be closed.

16.01.2020 (1114 Clicks)

Innovative Malaysia welcomes WTC 2020

World Tunnel Congress 2020 to be held from 15 to 21 May 2020 in Kuala Lumpur.

14.01.2020 (911 Clicks)

Hatch enters strategic Partnership with General Fusion

General Fusion announced that it has entered into an industrial partnership with Hatch Ltd. (Hatch) to bring power plant engineering and other expertise to its Fusion Demonstration Plant project. This partnership includes an investment by Hatch into the recently announced General Fusion USD $65 million Series E financing round.

14.01.2020 (769 Clicks)

New Genoa Bridge: fifth Deck Section installed, fourth on West Side

Schools, universities discover “urban bridge”

14.01.2020 (700 Clicks)

Natural Disaster Losses 2019 – Tropical Cyclones causing Billions in Losses dominate Nat Cat Picture of 2019

• Severe typhoons in Japan cause the year’s biggest losses
• Hurricane Dorian, the strongest hurricane of the year, devastates the Bahamas – US mainland largely spared
• Natural catastrophes cause overall losses of US$ 150bn, with insured losses of about US$ 52bn – In line with long-term average
• Humanitarian tragedy caused by cyclones in Mozambique – Over 1,000 deaths – Better protection is urgently needed

The 2019 natural catastrophe year at a glance

820 natural catastrophes caused overall losses of US$ 150bn, which is broadly in line with the inflation-adjusted average of the past 30 years. A smaller portion of losses was insured compared with 2018: about US$ 52bn. This was due, among other things, to the high share of flood losses, which are often not insured to the same extent as wind damage in most industrial countries.

The insured portion of overall losses, slightly above 35%, matches the average of the past ten years. This is evidence that large sections of the market remain uninsured, especially in emerging and developing countries.

Globally, in 2019, about 9,000 people lost their lives in natural catastrophes compared with 15,000 in 2018. This confirms the overall trend towards lower numbers of victims thanks to better prevention measures. On average over the past 30 years, about 52,000 people per year have lost their lives in natural catastrophes.

The severe cyclones in 2019 have highlighted the importance of knowledge about changes in risk. Natural climate variations influence weather catastrophes from year to year. Longer-term climate change effects can already be felt and seen. Buildings and infrastructure must be made more resistant in order to reverse the increasing trend in losses. This will enable insurance to be more effective and support the remaining financial losses.

Second year of record tropical cyclone losses in Japan

As in 2018, Japan was again struck by very severe typhoons. Hagibis and Faxai were two equally severe tropical cyclones which hit the Tokyo area. While Faxai swept over Tokyo Bay with wind speeds of 170 km/h and made landfall in the city of Chiba, Hagibis struck further northwest, directly over the Yokohama-Tokyo conurbation.

A special feature of Hagibis was extreme precipitation, even away from the centre of the storm. In places, as much as 1,000 millimetres of rain fell within two days (that is about 1,000 litres per square metre). In many municipalities, this represented 40% of the usual annual rainfall. Levees on many rivers were breached. Countless buildings were seriously damaged, and many industrial operations were flooded.

The cyclones were the two costliest natural catastrophes of the year in terms of both overall losses and insured losses. According to preliminary estimates, overall losses from Hagibis totalled US$ 17bn, with insured losses of about US$ 10bn. Faxai caused estimated overall losses of about US$ 9bn, with insured losses of about US$ 7bn due to the greater share of more heavily insured storm losses.

This year’s typhoon season was again, as in 2018, subject to the “El Niño Modoki” effect, a particular phase of natural climate oscillation, which causes variations in water temperatures in the tropical Pacific Ocean. Under these conditions, typhoons steer more frequently towards Japan. All in all, the typhoon season in the northwest Pacific was close to the long-term average in terms of the number of storms.

Ernst Rauch, Chief Climate and Geoscientist at Munich Re, said: “The typhoon season shows that we must consider short-term natural climate variations as well as long-term trends due to climate change. In particular, cyclones are becoming more frequently associated with extreme precipitation, as with Hagibis in Japan in 2019 and Hurricane Harvey in 2017 in the US. Recognising these changes can form the basis for further preventive measures to reduce losses.”

Source: Munich RE

                     

14.01.2020 (784 Clicks)

Milan M4 Metro Line in Italy: Trial Run along first Section between Linate and Forlanini FS

Trial runs have begun for trains between the Linate city airport and the Forlanini FS station that comprise the first section of the new M4 metro line being built in Milan.

09.01.2020 (791 Clicks)

Recycling of critical Minerals is not the only Solution, says GlobalData

A recent report from the UK Office of Science and Technology states that while the UK is dependent on imported critical minerals for a number of sectors there is no specific strategy for their supply, a worrying thought considering the implications of recent trade wars.

09.01.2020 (953 Clicks)

Safety Accessories for Heavy Machinery: Radio Remote Control from GHH

Safety first in mining and tunnelling: For this reason, the German machine manufacturer GHH is pushing the use of radio remote controls where ever it suits the application. Its T-RX100J model is particularly light, comparativly inexpensive and also works with other OEM equipment.