Key risks of the industry
- Technical-operational: equipment failures, accidents at processing and smelting facilities, production line stoppages.
- Environmental: pollution, tailings dams, emissions; high fines and reputational consequences.
- Industrial safety (HSE): injuries, hazardous areas.
- Logistics: long delivery distances for raw materials and products, transport dependence.
- Market: volatility of metal and raw-material prices, currency risk.
- Cyber and IT risks: attacks on industrial control systems and corporate systems.
Management approaches
- Detailed analysis and quantitative assessment of technical-operational risks by stage: extraction, processing, smelting.
- Barrier model and safety culture in hazardous areas.
- Supply chain risk management and backup logistics routes.
- Continuity of critical processes: BIA and continuity plans for key stages and sales.
Global best practices (Rio Tinto, Glencore and major companies) show that systematic risk work reduces accidents and losses, while continuity plans cut downtime during major disruptions.
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FAQ
Which metals-industry risks are assessed first?
Technical-operational (failures and accidents at key stages) and environmental — they carry the largest potential damage and regulatory consequences.
How are risk management and continuity linked in the industry?
Risk management lowers the likelihood of accidents, while business continuity ensures a fast return to work of key stages if a disruption occurs.
Evgeny Telenkov
Chief Risk Officer · PhD in Economics · "Best Risk Manager of Russia 2020"
20 years in risk management. Led risk management at Beeline, Nornickel, Rosneft and EY. Built business continuity plans for Nornickel, Rostec, NSD and DIA. Trained 300+ risk and BCM specialists.