The successful management of a broad definition of risk from counterparty to credit to political to product defines the success of our business. We constantly strive to reduce the nature and level of all the risks we face.
Offsetting risk is central to what Warrior Minerals does; and we consider our continued investment in market-leading risk management systems as vital to preserving our competitive advantage.
Warrior Minerals has invested substantially in a bespoke, IT-based system, which integrates information from all our activities and provides a real-time, transparent tool to monitor and adjust operations according to the environment.
Information service is the key to Warrior Minerals’ success, and the group has well-defined IT security, business continuity and disaster recovery plans in place.
A culture of risk awareness runs through all of Warrior Minerals’ business activities, with traders operating within clearly defined risk parameters.
A full risk review is undertaken for all new clients, counterparty credit limits are monitored throughout, and independent risk specialists evaluate and report trading exposures.
For Warrior Minerals, strict risk management is not a restriction but a business opportunity.
Responsibilities
Our responsibility is to the communities in which we operate, our customers, our suppliers and employees.
As physical traders whose success rests on long-term ownership of assets, supporting local communities is essential to our business. Our community involvement program will bring together the contributions that Warrior Minerals already makes under a more cohesive group framework.
Our business also benefits from our commitment to training which aims to fulfill the potential of promising Warrior Minerals employees from all backgrounds and ensures that we maintain our proud record of ethnic and cultural diversity in management positions.
Risk Management is Essential for Mining Industry to Capitalize on Opportunities
Despite historic improvements in health and safety, mining remains a dangerous profession. Warrior Minerals ‘Risk Management’ is a central component of safety and health management systems (SHMS) involving a cyclical process of identifying operations or activities at high risk for injuries, redesigning operating procedures to reduce risks, implementing these changes and evaluating their effectiveness. Internationally, formal risk management is a legal requirement in many countries. In the United States (U.S.), safety and health regulations are generally compliance rather than risk based.
The survey results are being combined with retrospective longitudinal analysis of company internal data and Mine Safety and Health Administration (MSHA) reported injury claims to determine the effectiveness of implemented risk management interventions. We are also evaluating the costs of program implementation, including direct and indirect program costs and the resulting changes in injury costs, enabling an economic evaluation of ROI for both overall risk management programs and component interventions. Risk management intervention best practices are being identified by reduction in injury rates and positive ROI.
Warrior Minerals firmly believe that big gains often come with taking big risks, and well-designed programs enable them to safely pursue those opportunities. Many Mining companies are seeking risk management advice from Warrior Minerals to help make important investment decisions.