Mineral Commodities’ risk management framework has been developed in line with the International Standard for risk management ISO 31000. Our Company has well founded, structured and systematic processes to identify and manage all risks to the Company, with specialist attention to areas such as environment, injury, illness, reputation, stakeholder relations, compliance, financial and company objectives.
The Board, in accordance with the Board Charter, delegates responsibility for identifying and managing risks to management, who in turn are required to report to the Board on risks which could have a material impact on the Company’s business. The Audit, Compliance and Risk Committee assists the Board with regard to oversight of the Company’s risk management practices. Key risks and how they are managed are reviewed by the Executive regularly and reported to the Audit, Compliance and Risk Committee on a quarterly basis.
Sustainability risks are identified, recorded and stored in operation and location-specific risk registers. Additional risks, and the escalation/de-escalation of risk ratings, are identified during audits and as part of ongoing operational activities.