Why PRI is not common with mining companies in Canada

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Presentation transcript:

Why PRI is not common with mining companies in Canada Keith Minty GBRM January 31, 2017 AON Vancouver, BC, Canada

Soft Risk Focus is on Hard risks such as mineral resources, and financing Soft risks do NOT affect stock prices PRI obtained when demanded by our lenders Lenders usually arrange it themselves to cover their risks

When is PRI Obtained by Extractives When is PRI Obtained by Extractives? PRI obtained when demanded by our lenders Lenders usually arrange it themselves to cover their risks No need for us to understand it, just pay for it!

Risk in conflict areas Political risks focus is on areas of conflict like DRC Risks of expropriation can materialize in low conflict areas but usually ignored

Standard precautions do not include PRI We look at “who is who in the zoo” Focus on pecking order in the country

Insurance Brokers Few insurance brokers understand PRI Even fewer understand risks that mining companies face internationally

Advisors and consultants Experts don’t understand or know about the issues which can arise Don’t consult with each other

Corporate problem Corporate issue as management risk assessment treasury finance don’t think of issues until Friday night

Risk is Subjective Risk analysis is quite subjective Undertaken after the decision to invest is made If undertaken seriously, we scare ourselves!

QUESTIONS? Contact information: Keith Minty Global Business Risk Management keithminty@gbrm.ca www.gbrm.ca

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