In a less than favourable business environment, identifying and managing strategic risk has risen to the top of the agenda of most mining companies.
Identifying and managing strategic risks - risks that have a direct impact on an organization achieving strategic objectives - has become a top priority for most mining companies.
Over the past several years, many mining companies have adopted the process of integrated risk management, which involves identifying, analyzing and handling a complex web of risks. If performed only from the "bottom up", an organizations risk management process may not always provide a complete solution for the needs and culture of mining, especially in today's difficult market conditions.
Recognizing this, some mining companies are taking decisive action to manage the uncertainty around their strategic objectives, either to preserve or grow value. In this edition of Insights into Mining, we will examine the various mining-specific approaches to managing strategic risks in order to protect long-term organization value.
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