The global mining industry is facing uncertainty, cost pressures and access to finance challenges created by the COVID-19 pandemic, particularly due to volatility in commodity prices, operations run from remote locations and expanding supply chains.
Demands for social, economic, and environmental responsibility, as well as the management of relationships between host communities and regulatory authorities, necessitate sustainable mining practices. Investors, in turn, expect operational diligence and financial discipline in the face of high capital investments.
Pace Risk Consulting's mining experts support small and large-scale businesses in identifying, managing, and mitigating risks throughout the entire mining lifecycle, encompassing exploration, extraction, processing, and rehabilitation.
Our extensive industry knowledge and consulting solutions enable you to develop proactive strategies by anticipating the evolving risk profiles of the environments in which your projects operate. This allows us to create fine-tuned insurance programs and risk mitigation plans for miners, contractors, brokers, and investors.
Our goal is to maintain operational continuity, stabilize your financial results, and achieve long-term sustainable growth by aligning with your environmental and social responsibility requirements.
Coverage varies depending on the mine's lifecycle and operations; a typical program includes coverage for property damage and business interruption, contractor all-risk and delay in commencement, third-party liability, directors and officers liability, marine transportation and inventory coverage, workers' compensation, political risk, political violence, terrorism and sabotage, kidnapping, ransom, and extortion, cyber risk, and personal accident and life insurance.
At Pace Risk Consulting, we first model your strategy and controls through a detailed review, then redesign your risk mitigation and risk transfer program, implement the necessary measures and insurance settlements, and ensure the fastest return to operations with claims management and business continuity support in the event of potential incidents or losses.
Contact us to get in touch with an expert in a specific industry or risk topic, learn more about a particular solution, or send a sales/quote request.