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02

Benefits

Business Continuity

Mining companies face unique risks and challenges.

What are the benefits of adopting international standards?

Critical minerals companies experience many benefits from adopting international standards concerning business continuity.

 

Business continuity benefits

  • identifying and managing threats and risks to the mining organisation
  • minimising incidents’ impact by identifying alternative modes of operation and implementing them in advance
  • minimising downtime during incidents and improving recovery time
  • keeping critical operations up and running during times of crisis
  • training mine staff in emergency procedures
  • minimising financial consequences of disruption
  • creating plans for business continuity and disaster recovery
  • establish the organisation’s reputation among industry leaders
  • building confidence for stakeholders that the organisation is resilient
  • increasing the company’s revenue by using protective controls effectively.
Why don’t more mining companies adopt international standards?

Leaders and board members have failed to understand that business continuity is a business responsibility and an essential plank of corporate governance. The standards are not compulsory and they require considerable time, money and effort to implement, so many decision-makers put them into the too-hard basket.

But the benefits of adopting the standards outweigh the costs.