Automation of triggering warnings for natural hazard events and monitoring the response of the control systems in place in real-time - drastically reducing a mining operation's $200m in risk exposure.
A multi-national mining corporation, with operations based out of the US, was experiencing production shutdowns due to their inability to predict natural hazard events in advance, and plan an effective response.
Within a span of a single year, the mining site in question saw unprecedented snow fall in the winter followed by unprecedented rain. The production loss due to these events is estimated at $200M.
With the effects of climate change becoming more and more real across the globe, the operation needed to quickly understand their exposure to these natural hazard events ranging from nesting migratory birds all the way to storms and heatwaves. In addition, they needed to predict potential hazard events, their severity and duration, well in advance to have the opportunity to plan an effective response that mitigates complete shutdown.
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The multi-national mining corporation reached out to utilize InterKnowlogy's Business Continuity and Risk Management services to minimize and mitigate risks in the mining space in its efforts to maintain performance.
A comprehensive plan to help mitigate these risks was developed in cohort with mining operation and its management that included:
Understanding Exposure:
1. Identified exposure to 21 Natural Hazard Events
2. Mapped the severity thresholds (Amber, Orange, Red)
3. Quantified the exposure in monetary terms with direct & indirect costs
Understanding Preparedness:
1. Identified & mapped Control Systems (Continuous, Preventative, Mitigating)
2. Mitigation map of Natural Hazard Events to Control Systems
3. Control systems effectiveness score
Responding Effectively:
1. Local and enterprise response plans
2. Developed a roadmap of an automated solution that predicts natural hazard events week(s) in advance, measures the control effectiveness in real-time and triggers the response activities at the right time.
With updated response plans, the operation became well positioned to take preventative measures in advance, mitigating measures during and measuring their control effectiveness on an ongoing basis.
Ultimately, it helped them mitigate complete production shutdowns - drastically reducing their $200M exposure.
