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Enviro risk tops mining industry worries: KPMG

Kitco News

Environmental social governance concerns leapt to the top of the list of worries in KPMG's annual survey.

The consultancy published Global Mining Outlook 2022 today.

Concerns about commodity prices were last year's top concern.

"Commodity markets have lost their place at the top of the risk radar, overtaken by environmental risks and regulations. The environmental, social and governance (ESG) agenda looms large — the third top risk (community relations and social license to operate) is also related to ESG," said Trevor Hart, Global Head of Mining at KPMG.

Hart noted that concerns about the pandemic are receding.

"Another dramatic difference this year is that the pandemic has disappeared from the top 10, after leaping in at number two last year. Now it seems like the industry regards COVID-19 as something it can incorporate into business as usual as global demand for commodities to power the economic recovery builds."

The survey was conducted in January and February 2022 including leaders from 23 markets.

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