Challenges faced by Mining and Metallurgy
Mining is an inherently risky industry. Beyond the trading risks of commodity price fluctuations, exchange rate variations and governmental policy changes, miners have to contend with potential environmental impacts, and significant safety and health risks to employees and contractors. In addition, managing social risk has become a key focus area, lest the mine lose its social licence to operate. While the impact of many risks cuts across disciplines such as environmental, health, safety or social, these disciplines are often managed in siloes, making an holistic understanding of risk indicators and consequences difficult. There is also within the industry a tendency to focus on lagging indicators rather than leading.
IsoMetrix Value Drivers
Prevention is cheaper than cure. By providing a centralised Governance Risk and Compliance solution for mining, IsoMetrix enables mining companies to closely monitor leading indicators, and to be forewarned of potential incidents. The risk-based architecture of IsoMetrix allows risks to be assessed across all disciplines, and re-evaluated as incidents eventualize. The breadth of the solution allows mines to go beyond managing EHS, including related areas such as Enterprise Risk, Compliance, Quality, Stakeholder Engagement, Resettlement, Socio-economic Development and Business Continuity Management.