Understanding mining industry – Loss trends and predictive analysis

The mining sector was responsible for an estimated 15 per cent of Australia’s* GDP in 2023 and 5 per cent in Canada**, so losses incurred by the industry risk having a sizeable impact on the wider economy. Losses are also costly and disruptive for the impacted mining firms, with production delays stretching into weeks or months.
* Australian Institute of Research, 2023
** Mining Association of Canada, 2023

Yet incidents continue to happen, which should make mitigation a priority for operators keen to ensure business continuity. The good news is they can often be avoided.

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