Mining
The mining industry is a risk-prone industry that has always been inundated by a number of risks. The mining industry faces a variety of risks in the process of its operations.
Dust exposure and lung damage, explosions, cave ins, electrical hazards such as getting an electric shock, or trip over the equipment, fire, noise and hearing damage, radioactive materials and lifting Injuries are some of the most important safety risk concerns that every mining company has grappled with at the operational level.
Fortunately, a risk management program allows mining companies ensure their operations are under control. Effective collaboration with risk management experts could be greatly beneficial for mining operations.
Before beginning a mining operation, it is essential that you review the political landscape thoroughly, because problems in this realm can halt an operation at any development stage.
Supply chain risk is also one of the important risks in this industry. Typical threats to supply chains include poor access to replacement equipment in remote areas, transportation barriers and difficulty accessing qualified laborers, therefore a review of these risks is absolutely essential in order to properly monitor project profitability.
Fortunately, with effective risk management programs, most mining businesses have the ability to counteract this.
With well-designed plans, many industry managers are able to effectively manage risks in the mines.