Question

3. What is the best way to help with mining problem in the future?

Answer 1

Answer:

1) Mining companies have an impressive track record for delivering continuous improvements in safety and risk governance standards. We have no doubt that the professionalism and expertise present within the industry will ensure that any new and emerging risk challenges are dealt with in an equally determined fashion.

2) Insurers have recognized the approach and achievements of mining companies in identifying, mitigating and retaining their risks. Many mining companies have close and longstanding relationships with their insurers built through regular dialogue with mining company executives and visits to mining sites and processing facilities.

3) This document should be of value to any organization involved in this ever-evolving industry.

4) The very nature of mining natural resources means that many businesses will have operations in some of the most remote and inhospitable areas in the world and very often coupled with a high susceptibility to natural catastrophe.

5) In addition to the traditional risk factors, the mining industry now faces an even wider range of challenges. Factors such as climate change, new technologies, economic uncertainties and secure supply of key consumables like electricity, water, gas and other fuels are all difficult to predict and bring additional complications to securing appropriate balance sheet protection.