In early 2019, we released the KPMG 2019 Global Risks and Opportunities for Mining. Now at the mid-point of 2019, it's timely to revisit the report and consider risks in the context of Australian mine operators for the 2020 financial year and beyond.
Each year, KPMG engages the global mining community to gather fresh insight into issues affecting mining operators around the world. The feedback is incorporated into analysis by KPMG mining and risk experts to compile a risk and opportunity forecast for the coming year.
As we progress through 2019, it's timely to revisit the Global report and update it with new findings and review the forecast in the context for Australian mine operators. The Australian Mining Risk Forecast for FY2020 provides commentary on the most significant risks identified as potentially impacting Australian miners in the next year and beyond.
Like much of the global mining sector, macro‑economic instability along with regulatory and compliance changes/burden and commodity price risks, are presenting challenges in the Australian market. However, this is not a new challenge and the market has adapted to operating in this environment, which is why it no longer ranks as highly as other risks
on a residual risk basis.
The top 3 areas of focus for Australia that arose from the survey are:
Further details are available in our full report.