Mining is in transition from the electro-mechanical era toward the cyber-informational one. Cyber risks in mining oil and gas companies become relevant and one should include them in any operation risk landscape assessment. Cyber risks in mining oil and gas companies Information technology (IT) , Internet of Things (IoT), and spreading connectivity are bringing very significant benefits to mining. However they increase the mining industry’s exposure to cyber criminals and possibly terrorists. This phenomenon is general and occurs in every…
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In this post we look at the 1 way to reduce the number of Due Diligence blunders (DD) in Mergers & Acquisitions (M&A) and other transactions. Due Diligence Due Diligence (DD) is ubiquitously considered to significantly contribute to informed decision-making. That’s because it enhances the amount and quality of information available to decision makers to evaluate “all” costs, benefits, and risks of, for example, an acquisition, merger or an investment (Chapman, 2006). Due diligence definition is “reasonable steps taken by a…
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Mining Risk Management Functions Audit Mining Risk Management Functions Audit help your risk assessment do all what you want. Would you like to: rationalize the sizing of insurance coverages? understand extant interdependencies within and outside your system? Finally, receive a unique management roadmap with a unified approach to 360°risks, including environmental, reputational and cyber risks spanning over your entire system? Mining Risk Management Functions Audit The replies to those questions should be the direct result of your risk assessments. However, if your…
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Twenty years ago positions like “Risk Manager” were held by a “glorified secretarial”. We remember some senior corporate officers calling Risk Managers: “the insurance guy”! Indeed an Evolution of Risk Management and Risk Managers has occurred in twenty years! Twenty years later, lots of pain and efforts have brought the Risk Manager to V.P. level in many companies around the world. Many Risk Management Societies and non profit organization in the domain of risk management, claim, we believe rightly so,…
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