“The Risk Management Integrated Framework for Mining (RMIFM): A roadmap  for the Mining Sector”

by Dominique Diouf , Research Team Leader at HBDO.

HBDO Canada (https://www.hbdo.ca) is a leading company fully dedicated to global risk management.The RMIF is a research program within the HBDO’s «watchtower project for international development». Built in a comparative analysis, the RMIF is driven by the strategic co-development approach advocated by HBDO.

Purpose of the RMIF

The purpose of the Risk Management Integrated Framework (RMIF) is to increase the visibility of opportunities available in the mining sector and to reduce the residual risks of local and international investment projects. The RMIF is a research that focuses on the relationship to risk management of mining operators (mining industries, prospectors, entrepreneurs, brokers, local communities,…) and the external impacts of their trade-offs (environment, public health, local economy,…). It captures the risks associated with the technical and commercial operations in the mining sector.It also attempts to explore how external stakeholders perceive and manage risks and how, in turn, the activities and pressures of the institutional environment may affect the mining operations.

More than just a guideline, the Risk Management Integrated  Framework is a roadmap for all stakeholders involved in investment projects in the mining sector.  It is expected to highlight the opportunities as well as the threats as part of the international investments devoted to the mining sector.

Method

The RMIF will provide to stakeholders core specific data collected from the extractive industries area. It is a comparative analysis covering several countries where HBDO research associates are present (Canada, Algeria, Democratic Republic of Congo, Senegal, Mauritania, Peru, Ghana, Sierra Leone, South Africa, Australia etc.). The methodology is based on a unique analytical framework: the 360 ? risk management approach. This approach provides risk management feedback from internal stakeholders (industry, prospectors, entrepreneurs, intermediaries, brokers etc.) as well from the external stakeholders (civil society, governments, local communities etc.). This will be underpinned by a thorough analysis of the economic, political, social, environmental and governance issues.

What are the benefits of the RMIF ?

The IRMF is important scientific research program for action. Both mining companies and their stakeholders could use the RMIF to manage their operational and institutional risks. It is expected that the findings of this research will be presented on August 11-12-13, 2015 as part of an international workshop.  A handbook called ” Risk Management Integrated Framework for Mining ” will be produced and disseminated.

The RMIF helps mining companies and stakeholders to:

–        identify and manage the different risks (internal and external) induced by the technical and commercial operations;

–           Determine how these risks are perceived and managed by external stakeholders;

–          Analyze the threats of the institutional environment;

–          Determine how both operational and institutional risks are managed by companies;

–          Establish a risk mapping for specific mining projects;

For more information, please contact Dominique Diouf, Research Team Leader at HBDO

Contact : ddiouf@hbdo.ca

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