Each year, KPMG Australia researchers utilise the firm's close links to the country's leading mining executives to conduct a survey to reveal the risks that are top of mind for the mining sector.
The Australian Mining Risk Forecast is recognised as the leading market report on mining risk, providing vital insights into one of our country’s most important industries.
This year, after a tumultuous 12 months, our report reveals a sector looking forward with cautious confidence.
COVID-19, ESG, trade wars and economic shifts.
Australian mining operations have grappled with challenges like supply chain and labour disruptions, liquidity risk, and cyber attacks.
At the same time they are boosted by tailwinds including surging commodity prices, new demand for raw materials necessary for the zero carbon transition, and new technology.
Of course just as there is opportunity in crisis there is risk in times of abundance, and mining executives seem acutely aware that commodity price booms have historically been associated with creeping inefficiencies.
Mining executives are also demonstrating how they are approaching their social license and ESG responsibilities, as they recognise defining success in the 21st century will require broader thinking than only a laser-focus on basic returns.
Jolted by COVID-19, those surveyed are now also maintaining a wary eye on global risks like trade wars, economic downturns, and future pandemics.
This Australian Mining Risk Forecast for 2021/2022 explores the key risks identified by executives. It should provide ample food for thought for those interested in understanding the trends that will define Australian mining as it advances.
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