“We can and must help the millions of people displaced by the crisis as well as those hosting the displaced across the beleaguered Lake Chad region,” Under-Secretary-General for Humanitarian Affairs Mark Lowcock told participants at a ministerial event held on the margins of the General Assembly’s high-level session. Mr. Lowcock, who is also UN Emergency Relief Coordinator, visited Niger and Nigeria earlier this month to raise the global profile of the Lake Chad Basin crisis, which is affecting some 17 million people in the region. In Niger, the number of food-insecure people is around 1.8 million. Some 800,000 children are affected by acute malnutrition and almost 250,000 people are either internally displaced persons, returnees or refugees from Nigeria. In northeast Nigeria, around 6.5 million people need life-saving assistance. Nearly 5.2 million are severely food-insecure and 450,000 children will suffer from severe acute malnutrition, this year. The $1.1 billion appeal for the country is currently only 48 per cent funded. “Together, we have managed to avert famine, but we cannot pause or slow down. We must continue to step up so that the millions of people who are still just a step away from starvation are not allowed to perish,” said Mr. Lowcock.Humanitarian needs likely to remain highDeputy Secretary-General Amina Mohammed noted that for the past eight years, Cameroon, Chad, Niger and Nigeria have suffered the horrendous consequences of the Boko Haram insurgency. “Humanitarian needs will unfortunately remain high into next year and beyond. Sustained support is essential.” The Deputy Secretary-General also noted that the crisis is “a powerful example” of the complex, multi-dimensional and interlinked challenges that the region faces, and shows why an integrated, comprehensive and coherent approach is needed to address the humanitarian-development nexus and its link to peace. These challenges, she said, are driven by under-development, economic and political exclusion, environmental degradation linked to climate change, demographic shifts and structural fragility. Countries in the region are dealing with violent extremists at the same time as they are hit by economic recession and low oil prices. “I myself grew up in Maiduguri in Nigeria – the heart of the Boko Haram insurgency,” she said. “I know better than anyone that no child is born a terrorist. Children and young people are indoctrinated and radicalized by circumstances, conditions and influences. “Governments must act to address the root causes of violence, including the full spectrum of social, political, economic and religious grievances.” She added that preventing crises requires investment in strengthening resilience and building the capacity of institutions and communities; investment in people and in social cohesion; reducing inequality and vulnerabilities; and expanding opportunities for all. “The 2030 Agenda for Sustainable development is the best preventive tool we have,” she stated, referring to the 17 Sustainable Development Goals adopted by world leaders in 2015 to end poverty, reduce inequality and tackle climate change.
Joy Global has entered into a definitive agreement to purchase certain assets of Mining Technologies International (MTI) for C$51.0 million. MTI is a Canadian manufacturer of underground hard rock mining equipment serving the North American markets and a world leading supplier of raise bore drilling consumables. Joy says it “is acquiring substantially all of the assets associated with MTI’s hard rock drilling, loaders, dump trucks, shaft sinking, and raise bore product lines.”MTI’s fiscal 2013 revenues associated with these product lines were approximately $90 million. Excluding the impact of transaction costs and excess purchase accounting charges, Joy expects the transaction to be accretive to earnings in 2015. Completion of the transaction is subject to customary closing conditions and is expected to occur within 90 days.“This acquisition represents an exciting opportunity as we execute on our growth strategy to expand our underground mining product lines into the hard rock markets including nickel, potash, palladium, platinum, gold and copper,” commented Ted Doheny, President and Chief Executive Officer. “We believe that MTI’s broad range of complementary products, combined with Joy’s proprietary technology, our global direct service team and operational excellence capabilities will provide significant value to hard rock mining customers and our shareholders.” read more