Mining Eventos, a brand of Bumbar Mining, an Angolan company specialized in communication consultancy, organizes, on the 26th of the current month, in the city of Luanda, the 1st Safe and Mining Forum.
Under the theme “The insurance industry’s view of the mining sector – expectations, challenges and opportunities, the event will be in an interactive format with two round tables. According to a document from the institution to which Jornal de Angola had access, the forum aims to bring together responsible decision-makers and professionals from the insurance and mining sectors. It also aims to find out to what extent Angolan insurance companies embrace protection products for the mining sector, such as material damage and business interruption and service providers. “Mining exploration is an activity whose intrinsic characteristic is the modification of the landscape, which implies potential conflicts with other forms of territorial occupation, as its process involves research, exploration, extraction, transport, processing and marketing of miners”, it reads. in the document.
The note adds that an important aspect to be considered in this activity is the implementation of economic instruments such as collateral, financial guarantees and insurance, as a mechanism to enable the fulfillment of the legal and social obligations of this sector. In addition to this intrinsic nature, the document underlines that the mining sector faces many challenges at a global level; commodity price fluctuation, remote operations and supply chains, cost management and access to finance. The insurance sector thus arises so that the mining industry can respond to some of the risks of its activity, such as chemicals (related to gases and dust), processing activity (milling, crushing and casting) and welding and cutting activities. Today, approximately 27 insurance companies operate, covering mainly the “life” and “non-life” lines (accident, sickness, travel and automobile insurance). Indeed, this is a sector that sees the emergence of increasingly incisive roles. Investors today demand operational rigor and capital discipline to ensure adequate returns from capital-intensive assets and projects, as well as looking to new minerals critical to an increasingly cleaner and decarbonized world.
