Orbite Technologies Inc EORBF

Metals & Mining Aluminum Industrial Metals & Minerals

Orbite Technologies Inc is a Canada-based mineral-processing and resource development company. The firm is organised into the following segments; Specialty Products, Waste Monetization and Commodity Minerals. It produces alumina, silica, hematite, magnesium oxide, titanium oxide, smelter-grade alumina, rare earth oxides and rare metal oxides. The operation plant is based in Canada.

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Orbite Technologies Inc

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Comment by etpa111on May 05, 2016 11:16am

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RE:RE:RE:RE:RE:Is Orbite insured for any future operational downtime?

Insurance against engineering defects (in the US it is called "Errors and Omissions" insurance) is quite common, but this is carried by the subcontractor, and is usually required by the client. If ORT used a subcontractor for the botched engineering, then they could make a claim against the subcontractor (assuming Canadian laws in this regard are similar to the US). If ORT used their own engineering staff, then there is likely no recourse, and I would hope in that case we will see some firings. Finally, such insurance is a good reason to use properly qualified and insured engineering subcontractors, rather than trying to do it yourself.

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