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EY’s Top 10 business risks critical to mining’s energy transition supply response

Theo Yameogo. Image from EY Toronto.

EY’s Top 10 Business Risks survey is in play as the industry considers a supply response to the wall of metal demand the energy revolution is generating,” Americas and Canada sector leader for mining and metals, Theo Yameogo, tells The Northern Miner.

The energy transition demands unprecedented volumes of minerals and metals, with some analysts noting $1 trillion of investment to meet medium-term forecasted demand curves.

“The climate crisis and rising stakeholder expectations are increasingly significant forces of change,” said the analyst in an interview.

While the 2022 rankings were released in October 2021, Yameogo says they are just as relevant today. “Environment and social took the number one spot in our rankings for the first time, followed by decarbonization and then licence to operate (LTO).”

According to the analyst, as environmental, social and governance (ESG) factors become a bigger priority for investors, shareholders and a broader group of stakeholders, miners are doing more to integrate ESG into corporate strategies, decision-making and stakeholder reporting.