Risk Management: An Essential “Tool” for the Extractive Sector

Maraboutis, Petros; Poulimenou, Niki-Iliana; Nikolaou, Elena

doi:10.3390/materproc2021005119

Cited by 3 publications

(3 citation statements)

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“…In highly competitive industries such as Southeast Asia's mining sector, organizations face significant risks due to commodity price fluctuations and stakeholder pressures (Maraboutis et al, 2022). Therefore, a proactive and comprehensive approach to risk management is necessary, which distinguishes the region globally.…”

Section: Literature Reviewmentioning

confidence: 99%

Optimizing firm performance through contingency factors, enterprise risk management, and intellectual capital in Southeast Asian mining enterprises

Cahyani Pangestuti,

Muktiyanto,

Geraldina

et al. 2024

Investment Management and Financial Innovations

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Enterprise risk management (ERM) is a crucial aspect of corporate operations. This study examines the impact of environmental uncertainty, industry competition, and firm complexity on Enterprise Risk Management implementation and firm performance in the Southeast Asian mining industry. Utilizing data from 205 mining companies listed on Southeast Asian stock exchanges from 2016 to 2022, the analysis employs panel data regression methods. The findings reveal that environmental uncertainty does not significantly affect ERM, while industry competition positively influences ERM but negatively impacts firm performance. Firm complexity positively affects both ERM and performance. ERM mediates the relationships between industry competition, firm complexity, and performance, while intellectual capital moderates the effect of ERM on performance. These results underscore the strategic importance of integrating ERM practices and developing intellectual capital to enhance firm performance amidst competitive and complex business environments. The study contributes to the literature by providing empirical evidence on the nuanced relationships between these variables in the context of the Southeast Asian mining sector and offers practical insights for policymakers and industry leaders.

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Section: Literature Reviewmentioning

confidence: 99%

Optimizing firm performance through contingency factors, enterprise risk management, and intellectual capital in Southeast Asian mining enterprises

Cahyani Pangestuti,

Muktiyanto,

Geraldina

et al. 2024

Investment Management and Financial Innovations

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“…Risk management in the mining sector has greatly developed over time over the last 20 years with a number of different tools and techniques. Risk management is an approach that assesses all risks associated with the construction, operation, and closure of the facility [86]. Indeed, a possible action to prevent (in the case of fluent waste) or reduce (in the case of old EW facilities) the environmental impacts, in the long term, is to recover RMs/CRMs/SRMs from EW.…”

mentioning

confidence: 99%

Use and Recovery of Extractive Waste and Tailings for Sustainable Raw Materials Supply

Mancini,

Casale,

Tazzini

et al. 2024

Mining

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Extractive waste (EW), including tailings, is produced in large quantities during mining activities. In recent years, the linear economic model (“take-use-and-throw” approach) has been replaced by a circular approach, emphasizing the sustainable use and recovery of EW. The development of innovative protocols, such as Best Available Techniques (BATs), which aim at the technological and process improvement of more sustainable mining activities and at the production of renewable, highly performing green materials, has led to technological advancements, expertise in sustainability, and a reduced ecological footprint, potentially causing positive economic and social impacts and reducing environmental ones. Extractive waste and tailings, if suitably characterized, can be used to improve and make sustainable the works connected to the management of mining activities. The qualitative–quantitative characterization of EW is essential for subsequent reuse and for assessing the risk to human health and the extent of environmental impacts in the various matrices. The application areas vary according to the type of waste and mining tailings, the morphological characteristics of the deposits, and the geological, geomorphological, and logistic context of the area. Integrated protocols for sustainable EW exploitation and positive impacts on the economic, environmental, and technological/social level are analyzed. The present paper aims at providing an overview of challenges and potentialities connected to extractive waste (EW) management and potential exploitation to recover raw materials (RM), critical raw materials (CRM), and secondary raw materials (SRM).

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“…Indeed, risk management in the mining sector has greatly improved over the last 20 years with a number of different tools and techniques, and is an approach that assesses all risks associated with the construction, operation, and closure of the extractive industry facility [97]. While this approach can reduce environmental impacts, it may temporarily increase environmental effects due to reprocessing and weathering.…”

mentioning

confidence: 99%

Managing Marble Quarry Waste: Opportunities and Challenges for Circular Economy Implementation

Tazzini,

Gambino,

Casale

et al. 2024

Sustainability

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Marble has been a prominent natural stone exploited since ancient times, commonly employed as a building material and ornamental stone. However, the disposal of waste generated from marble extraction, particularly fine sludge, poses significant environmental challenges for the dimensional stone industry. The difficulty in managing and recovering these materials, exacerbated by local regulations and the absence of suitable recovery protocols, often leads to landfilling. This issue is exemplified by the Carrara Marble Basin in the Apuan Alps (Tuscany, Italy), where more than half of the extracted marble remains as quarry waste or debris. Modern cutting technologies have intensified the production of finer materials and sawing residue, known as “marmettola”, ranging in size from fine sand to silt. The disposal of these materials, commonly through landfilling or abandonment, has profound environmental repercussions. This research primarily aimed to carry out a preliminary physical, mineralogical, and morphological characterization of the fine waste and sludges generated from Carrara Marble exploitation. The findings reveal the high granulometric uniformity of the materials, and a nearly pure carbonate composition, suggesting potential for reuse in various industrial sectors such as paper, plastics, and pharmaceuticals production.

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Risk Management: An Essential “Tool” for the Extractive Sector

Cited by 3 publications

References 0 publications

Optimizing firm performance through contingency factors, enterprise risk management, and intellectual capital in Southeast Asian mining enterprises

Optimizing firm performance through contingency factors, enterprise risk management, and intellectual capital in Southeast Asian mining enterprises

Use and Recovery of Extractive Waste and Tailings for Sustainable Raw Materials Supply

Managing Marble Quarry Waste: Opportunities and Challenges for Circular Economy Implementation

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