News at European Insurance Solutions

Abandoned mines are payed for by taxpayers

Canada is, and has always been, a mining intense country. However, mines that were profitable once may not be profitable anymore due to declining metal concentrations and increasing requirements on preventive measures to protect the environment and human health. In an article published in the Economist on the 27th of September 2014, it is claimed that there is an estimated 10,000 orphaned or abandoned mines in Canada’s north that are now the government’s responsibility. The cost of decontaminating and restoring those mining sites, which will be borne by the tax payers’, will be significant. This unfortunate situation could have been avoided if the Canadian Government […]

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Circular Materials Conference 2014

The concept of circular economy is more popular than ever before. Yet, the idea has been around for a long time, especially within the recycling business where materials are converted from “waste” to useful materials that support growing economies. European Insurance Solution is supporting circular business models by providing insurance solutions to the recycling business. To expand our work within this field and promote our solutions to businesses active within the circular economy we are sponsoring one of the leading conferences on the topic 23-24 September. Come visit us and many others at the upcoming Circular Materials Conference in Stockholm, Sweden.

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Mining company bankruptcy shows need for financial guarantee

The mining company Lappland Goldminers, who were running gold mining projects in Sweden and Finland, went bankrupt in the beginning of April 2014. Sadly, this mining company bankruptcy left a 1500 meter wide open pit mine with serious leakage of metals in Blaiken, Sweden. The cost of decontaminating the site is estimated to 100-200 MSEK (11-22 million Euro) plus a running cost of 1 million SEK (111 000 Euro) per month to prevent further leakage. Since Lappland Goldminers did not have any financial guarantee that cost will be born by the tax payers. This situation could have been avoided if […]

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