01
Risks
Business Continuity
Mining companies face unique risks and challenges.
Risks
Business Continuity
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Mining companies face unique risks and challenges. Mining sites are typically isolated, high-risk work environments. Hazardous chemicals, fire, and explosive materials can injure or kill people and disrupt operations. Emergencies can be so serious that evacuations and stopping mining operations may be required.
As a result, business continuity planning is vital for the mining industry.
Critical minerals companies are generally vulnerable to business continuity by:
- not being able to continue operations or trade due to a crisis or catastrophe
- disruptions to supply chains
- disruption to markets
- trading halts
- funding complications or difficulties.
In recent years, the Covid-19 pandemic has severely disrupted industry. But it was not the first nor the last health pandemic Australia will experience.
- pandemics
- safety incidents
- IT outages
- cyber attacks
- extreme weather events
- shortage of key talent and skills
- regulatory changes
- disruptions to utility supply
- political violence/civil unrest
- exchange rate volatility
- natural disasters
- energy price shocks
- interest rates/borrowing costs.
- increased cost of working
- loss of productivity
- staff loss
- reduced staff morale & wellbeing
- delayed cash flow
- impaired service outcomes
- increase in regulatory scrutiny
- reputational damage
- loss of corporate knowledge
- regulatory fines
- share price falls
- product recall
