The COVID-19 outbreak developed rapidly in 2020, with significant global impact. Many mining entities, and the communities they operate in were impacted by the outbreak.

When we reported the results of the 2020 KPMG Global Risks and Opportunities for Mining Survey just a few months ago, the threat of a global pandemic was not identified as a risk. As we reflect on the impact, several of the top risks have no doubt become more critical to mining leaders, while some have remained the same or even decreased in relative importance. Furthermore, a number of new risks that were not present in a pre-COVID-19 world, have come to the forefront.

Top 10 mining risks from the 2020 KPMG Global Risks and Opportunities for Mining Survey:
Top 10 mining risks revisited

New mining risks to watch:

  • Supply chain risks
  • Operating resilience & safeguarding of operations
  • Cyber and IT security
  • Workforce health & safety
  • Liquidity risks

Moving to recovery

To move forward, companies must balance the short-term critical issues relevant to responding and adapting to the immediate impact, while maintaining a focus on building longer-term resilience. Successful organizations are proving themselves to be agile, focusing on what is critical to their business and eliminating complexity.

To read more about how we believe the mining sector can manage the current situation, download the article.