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mining industry. Every year, KPMG asks mining executives about the state of their industry, key trends, and their expectations for their organizations. This year, we expanded the survey to capture key global market trends, backed by responses from over 130 executives and industry highlights from Canada, Australia, Brazil and South Africa.
Of all the major industry sectors, mining can probably claim the greatest familiarity with risk. The very real danger to life and limb faced by the earliest miners remains a feature of modern operations, but explicit attention to risk is now spreading to other areas of mining, from process operation and projects through to the strategic management of a business.
Digital effectiveness has emerged as the number one risk for the mining and metals industry, according to Ernst amp; Youngs (EY) latest Top 10 business risks facing mining and metals report. This trend has developed in the lead up to the 201718 report as companies strive to improve productivity by introducing new technologies.
#0183;#32;At the same time, traditional mining sector risksin areas such as health and safety, strikes and social activism, regulatory compliance, stakeholder relations, cybersecurity, data privacy, finance, and operationsremain firmly in place. And there is an
Management of the availability of energy over the entire mine life To minimize these risks, companies are opting for a mix of energy sources fossil fuels, hydroelectricity and renewable energy. In addition, to reduce costs and greenhouse gases, they will be investigating ways to replace dieselpowered equipment with electric ones.
Extending this runway becomes a key risk. Key factors include expanding the exploration budget, utilizing contract miners, studying existing areas under control, and forming strategic alliances with competitors or others within the industry.
related macroeconomic risks are front of mind for mining executives. This is leading the industry players to focus on their own house, getting the basics in order and reducing costs or looking at technology to drive growth, productivity, and greater efficiency. Equally noteworthy is the challenge for capital. In the past,
W hen last years top 10 risks in mining and metals report raised the prospect of highimpact risks those that are rare but potentially catastrophic who could have predicted what would follow in 2020? At that point, we anticipated that disruption would soon hit the sector but didnt expect it to come from a global pandemic that has now accelerated other disruptive factors.
Mining is a dangerous profession. The traditional occupational hazards such as coal dust inhalation, damage to hearing due to the noise in a mine and chemical hazards still stand but the changing nature of mining has led to a raft of new issues. As mines are getting deeper, the risk of
The top risks facing mining and metals in 201920 reflect a new era of disruption from both within and outside of the sector. T he themes of license to operate and disruption run through this years risks as mining and metals companies have to deal with many new and variable factors, including societal expectations, digital transformation, and unique challenges to portfolio and capital
#0183;#32;Risks and opportunities for mining: Global outlook 2019 Risks and opportunities for mining: Global outlook 2019 KPMG surveys mining executives about the state of their industry, key trends, and their expectations for their organisations in the coming year. For this report, we leveraged our global reach to capture key global market trends from
Mining Industry Key Success Factors BUSINESS RISK ASSESSMENT Cost position The analysis covers the assessment of the company''s cost position advantages, which are measured by, among others, COGS/ton and Gross Profit Margin (GPM). As mining product is generally a commodity,
Most mining companies can clearly state their critical risks and manage the visible, highfrequency risks in their business. Traditional risk matrix However, in our experience, these critical risks are often static and stay on the risk register in much the same format for many years.
#0183;#32;There are a number of reasons why it has taken poll position: It is the key risk that CEOs and boards are discussing because the current approach is not broad enough, the stakeholder landscape is changing and miners need to adapt. We have seen the advance of nationalism globally.
Top 10 business risks and opportunities 2020 | EY Global
A common health risk that miners face is thermal or heat stress. Mining environments are often very hot and humid, particularly those in outback Australia, which over time can cause thermal stress in workers. Overexposure to heat and humidity can cause the body to become fatigued and distressed.
#0183;#32;Management Risks in Mining Management risk affects every company, but mining stocks are particularly prone to executive trouble. At the major
#0183;#32;A separate report from Ernst amp; Young noted some of the key risks that mining companies need to look out for in 2015. While the environment in which they operate is always changing and presenting new threats, its crucial that business leaders in the industry are able to understand risk trends so they can develop more effective programs.
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