Political campaigns, environmental disputes top threats to mining

Anti-mining campaigns and environmental conflicts have been highlighted as the biggest threats to mining in a new survey.

Initial results of Mining Journal Intelligence's World Risk Survey 2024 showed more than a quarter (27.9%) of respondents said anti-mining political campaigns posed an ‘extreme risk' to the industry – closely followed by environmental risks/disputes, at 27.4%.

Regulatory changes ranked some way behind in third, deemed an extreme risk by 20.4%.

The findings come about a year after the shock closure of First Quantum Minerals' Cobre Panamá copper mine in Panama, one of the biggest copper producers globally.

Panama's government ordered the company to cease operations in December 2023 after the Supreme Court ruled the mine's operating contract was invalid. The closure order followed anti-mining protests and campaigns by local environmental groups over alleged environmental damage.

World Risk Survey: Have your say

The results are from the first 226 responses to MJI's World Risk Survey, which closes this week.

In addition to ranking general risks faced by the industry, the poll asks industry professionals and experts to rate risks in specific jurisdictions. The results will form the Perceived Risk element of MJI's World Risk Report 2024, one of the broadest assessments of mining risk globally, with more than 120 jurisdictions ranked last year. The report is due out later this year.

Have your say here.

Top risks: Trends

Perceptions of mining's biggest risks have changed in recent years.

Last year's survey placed securing social licence to operate as the top threat, deemed ‘very high risk' by 18.3% of respondents, followed by regulations and skills, at 16.5% and 12.9%, respectively (the list of risks and risk level options were changed in the 2024 survey).

Skills availability topped the list of risks in 2022, rated as a ‘very high' risk by 18.1% of respondents that year, just ahead of regulations (17.9%) and social licence (17.2%).

By Celia Aspden

 

 

Edited by Sam Williams  

 

 

Editor, Mining Magazine Intelligence

 

 

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Please email sam.williams@aspermont.com with any questions, suggestions, or comments about our research.