9 Pages

Risk management and its contribution to sustainable development of mining enterprises

WithD. Ivanova

Modern mining companies operate in a volatile external and internal environment. This causes a threat of losses and stability in the production of quality products, which in its turn has a negative impact on the development of the company and its future. In this article we conduct an analysis of risk management process of mining companies and its particular features. We characterize the methods of qualitative and quantitative assessment and their applicability in modern working conditions of mining. This is done through the systematization of processes necessary for the risk assessment. Finally, we argue that the advantages of well-designed risk management system not only can be expressed in material terms but they also play a significant role in the sustainable development system of a mining company.