Set out below are the principal business risks that could impact the Group’s future performance, solvency or liquidity, how they link to our strategy and information on how we mitigate them.
The principal risks identified by the Board, evidence the extent of potential consequences inherent in operating a large-scale mining operation and we have included our view on the appetite to these risks at a point in time at the end of the year, however it should be noted that these risks are discussed regularly, and our appetite could change based on a number of factors. The Board regularly assesses the measures to mitigate these risks, limit the likelihood of incidents and recognise opportunities for delivery.
- STRATEGIC PRIORITIES
- RISK TREND
- RISK VELOCITY
- Very slow
Emerging risks are defined as circumstances or trends that could significantly impact the Company’s financial strength, competitive position or reputation within the next three years or over a longer term. Emerging risks may prove difficult to quantify as they are often influenced by external factors and difficult to predict.
We have outlined a non-exhaustive list of emerging risks assessed during the year, these are risks which are inherent to the nature of our business and where we operate. We monitor these as part of the risk management framework.
The Company recognises the importance of risks associated with cyber security and data governance but has assessed they do not represent a principal risk given the current position of the Company’s operations. Increasing investment in this area is, however, a priority for the Company to ensure we can maintain our resilience alongside planned enhancements to our technology as part of an ongoing digital transformation programme.
Potential of a regional/global outbreak of a new disease bringing medical, economic and social challenges. We recognise the potential impacts of a global pandemic similar to COVID as a threat bringing potential risks to our people and business. Learning from COVID and other infectious disease management we developed a dynamic action plan to safeguard the health of our people and minimise any business impact. This will continue to adapt and evolve as required to ensure we are in the best place to manage and respond as required.
Encompassing both physical and transitional elements, as this applies to our growth and diversification prospects in Côte d’Ivoire and Egypt. Above and beyond the scope of our existing operation, as presented in our Climate Change disclosures, climate change has the potential to profoundly affect how we screen, evaluate and allocate capital towards growth prospects