Past events in the mining industry. Cyber-attack cases in the mining industry have been reported as far back as 2010 3. It was alleged that mining giants BHP, Rio Tinto and Fortescue were victims to corporate espionage from hackers. Financial loss is a key consideration for mining companies when it comes to cyber-attacks.Web
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Africa Botswana Ghana Political and Country Risk. With the global economy on the brink of recession, 2023 is set to be a challenging year across sub-Saharan Africa. Rising interest rates and runaway inflation have already sent Ghana into financial meltdown, and will put many other debt-burdened governments under greater stress this year.Web
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Commodity price risk remains the top risk the industry faces, while the new addition of global pandemic risk at number two is unsurprising. Economic downturn and uncertainty rounds-out the top three, reflecting …Web
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1. Remote possibilities enabled by digitalization. 3. Collaboration is key to drive the change. plays into another of the key trends impacting mining in 2022 and beyond: collaboration. There is an increasing recognition that industry-wide sustainability and productivity goals cannot be achieved alone. Collaboration across the supply chain ...Web
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ESG issues named as two of the top three global mining risks; ... "The world is increasingly recognising the importance of the mining sector as a key element in securing the future. Given the global COVID-19 pandemic impacts have receded, it is notable that the top risks facing the mining industry generally come from outside rather than ...Web
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Key Challenges Facing South African Mining. Trade risk. South Africa ranks in the top 20 of most carbon-intensive global economies on an emissions-per-GDP basis. Indirect electricity-use-related emissions (Scope 2) make up the bulk (~77%) of total Scope 1 and Scope 2 emissions in the mining sector.Web
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Analysis: Top 10 risks and opportunities 1. Environmental, social and governance (ESG) Many of the ESG risks raised in our survey this year are not new, but …Web
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By Charles Young, head of Mining, and Wandisile Mandlana, partner, Bowmans South Africa Like other economic sectors, the South African mining industry continues to face many headwinds, but it ...Web
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The Big Picture: 2023 Metals and Mining Industry Outlook Download Full Report. This article was published by S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global. As 2023 approaches, we examine some of the key challenges, opportunities and trends facing the global metals …Web
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nonparametric risks of the mining industry create the basis for risk management systems for geological and mining projects, which is also one of the most urgent management tasks. ... So, in accordance with the analysis, the key risk factors for the mining industry are as follows: - market instability, lower prices for goods and rising product ...Web
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Top risks to the global mining industry 2020 2019 Key findings and a strong message Commodity prices and permitting risk once again occupy the number 1 and number 2 …Web
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In our 2022 Mining & Metals market sentiment survey, 24 percent of respondents viewed ESG issues as the biggest threat, rising to approximately 40 percent when climate-related activism and regulation is …Web
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Mining, Metals & Minerals Industry Landscape The industry is feeling the impact & continuing to look for cost effective ... a risk transfer mechanism is unable to be implemented if the risk is unknown. Key is to develop & implement an Enterprise Risk Management approach in accordance with the company size, strategic objectives, culture ...Web
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Miners should take time to redefine their risk appetite, identify gaps in their risk and control framework, and ensure their risk management methodology covers strategic, …Web
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Most states have comprehensive environmental regulations for the mining industry. Federal regulations aimed directly at the mining industry have not yet been put into a place, but broad-based statutes such as the …Web
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Green recovery packages from governments and the global green infrastructure investment drive will act as double-edged swords for the metals and mining industry, boosting demand and prices of certain metals while pressuring corporate strategy. Ultimately, companies with larger ESG risks will find it more difficult to attain financing, …Web
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Many of the proposed initiatives will need several departments to work together, which will be impossible if departments work in silos. Five major areas of focus can help miners capture value over this decade. 1. Develop a growth agenda. Miners should develop a growth agenda.Web
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Key View Covid-19 will bring rising risks of a change in mining regulations towards higher royalties and taxes on miners, as the pandemic will heighten political risks and strain ... Australia in particular stands out amongst the top performers, second highest in our index, due to its Mining Industry Value to GDP ratio of 10.4%, nearly in line ...Web
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Nothing indicates this will abate. In fact, global mining executives have ranked ESG as the top industry risk for 2022. While climate action has taken centre stage, awareness of social ...Web
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The top five mining risks 2021. Commodity price risk (No 1, 2020) concerns reflect ongoing volatility. Global pandemic risk (unplaced 2020) Economic downturn/uncertainty (No 6, 2020) Community relations …Web
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D isruption is fast reshaping the mining and metals sector's perception of where the biggest challenges – and paths to growth – may lie, according to our annual review of risks and opportunities in the global mining and metals sector (pdf).The climate crisis and rising stakeholder expectations are increasingly significant forces of change. …Web
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climatic events, new governments in key mining regions and shifting relationships in others are all impacting the world's mining and metals companies. These external factors will continue to drive a shifting of the sector's risks and opportunities as stakeholder and capital market pressure hold miners accountable on multiple fronts.Web
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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,Web
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COVID-19's impact on mining The global pandemic impacted on both micro and macro levels. Given the nature of mining, a central focus of any operation will always be …Web
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In December 2022 at the US-Africa Leaders' summit in Washington, Ghana accused neighbouring Burkina Faso of having contracted Wagner in exchange for a mining concession, dangerously close to Ghana's border. The growing hold of the Wagner group over African countries is a risk for western companies already operating in those areas.Web
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Latin America emerges as a key resource nationalism hotspot. Resource nationalism has long been a concern for the mining industry. When prices rise, such as last year, so do government and societal demands. Yet a notable change in 2021 was the increase in ESG-related nationalism, with an expectation for miners to maintain a social license to ...Web
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Disruption is dramatically shifting the risks and opportunities faced by the global mining and metals sector. Environment and social is now the top risk, with …Web
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Like other economic sectors, the South African mining industry continues to face many headwinds, but it remains resilient. Some of the key challenges facing the industry which are not unique to South Africa include: geopolitical uncertainty; costs; productivity and environmental social governance considerations.Web
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01: License to Operate... LTO remains the key issue for miners. The disruption of 2020 has reshuffled rankings, but license to operate (LTO) remains the number one issue for miners, with 63% of EY's survey respondents flagging it as a top three risk. EY expect the issue to become even more important as stakeholders broaden and develop a ...Web
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Advance-Pricing Agreements.- 5. Mining Industry Taxation Points.- 6. Exploration and Mine Development Costs.- 7. Insurance.- 8. Payments for the Use of Technology or Intellectual Property.- 9. Labour Costs.- 10 Debt Funding Arrangements.- 11. Conclusion Presentation PPT EXECUTIVE SUMMARY The auditing of mining companies is one of the assurance ...Web
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The share of mining industry in world GDP is about one third (about $10 trillion), and the indicators for the structure of the economically active population are 1/5, that is, about 17% of the world's population. The mining industry has always been associated with major investments and a high level of risk, and this is due to its specifics.Web
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The COVID-19 crisis has exposed the siloed nature of mining companies and highlighted the need for integrated operations. This is likely to accelerate the adoption of digital technologies, artificial intelligence, and analytics in the mining industry. We examine what future mining jobs will be like in intelligent, integrated operations.Web
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The Mining Risk Review is one of a suite of publications that we at Willis Towers Watson Global Natural Resources publishes every year that focuses on the key industry developments and risk issues faced by our clients in each of our sectors (Oil & Gas, Power & Utilities, Renewables, Mining & Metals). We hope you will find that the …Web
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The nature of these risks can be classified into: financial; regulatory; operational; and geopolitical. Mining companies who fail to address these risks effectively face greater risk exposure and are more likely to be impacted by supply disruptions. Mining companies today face challenges on several fronts when it comes to addressing supply riskWeb
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Summary. Disruption is dramatically shifting the risks and opportunities faced by the global mining and metals sector. Environment and social is now the top risk, with uncertain demand and new business …Web
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