Press Ctrl+A to select all. Even today mining represents nearly 12 percent of the world GDP, measured by revenues and products sold. Many of the risks and opportunities we discuss in this ⦠A contraction in manufacturing will result in reduced demands for raw materials and, in turn, slowdown for the mining industry. Like it? In the following I will first give a general overview on sustainability and how it can be achieved in business, showing that this goal cannot be approached one-dimensionally. This is the type of critical information that threat actors are after. Early in our explorations within this sector we discovered that the risks and opportunities for exploitation are very large, yet there seems to be extreme reluctance in talking about it. Finally, having a mixed-sex workplace environment may be much more appealing to workers of both sexes (“work-life balance”). Furthermore, many sustainable solutions are available for the circumstances and conditions in which mining happens. BlackEnergy and KillDisk were discovered in similar attack attempts against a mining company and a large railway operator, also in Ukraine. Overdependence on contract workers and lack of permanent employees poses threat of retaining and developing skilled workers within the organization 2. Todayâs cybercriminals are not only after money and financial informationâthey have evolved not only in terms of their technical ability and sophistication but are increasingly aware of the value of stolen sensitive data, how it can be monetized, and how it can influence business dynamics. 3. 14, Iss. Even though some managers may still think in terms of the old standard economic model, a new societal consensus is emerging that sustainable development, not unguided growth, of the economy is the best way to address current environmental, social, and cultural problems. Prices for metals are determined by the weight of a standard unit of refined product. Opportunities and Threats: The Mining Industry. ), social, cultural, and aesthetical, a long-term view must incorporate these perspectives as well. The gamble is that some of these recruits will come to love the culture and the environment and will stay beyond minimum commitment.” (Morrison, 2006) To make these solutions beneficial to the host community, it should be ensured that (short-term) locally hired staff takes part in the (long-term) training programs, leaving them behind with a qualification when the mine is abandoned. A possible solution would be for mining companies to generate their own electricity (ibid. Dewatering, aquifer, water disposal, irrigation, process water, tailings water, run-off water, seepage, leachate and sumps are all terms that are used on a daily basis in the mining industry, highlighting the numerous water usages on site and their ⦠2; p. 16. Therefore well-educated staff is needed to conduct it, pointing again to the above mentioned sustainable strategies for employee development. For example, it is often believed that sustainable development is only a very recent concern. For sustainable development it is vital that all stakeholders are taken into account for any decision – be it in business, legislation, education, or else. Generated power could be used for production, and, once the mine has depleted, sold to the local power grid. 1 The dusts may be toxic since they may also be contaminated with various toxic metals.For this reason, the prevalence and severity of occupational diseases in the mining industry depends on the ores mined, the ⦠Drastic measures had to be taken including suspending operations, divestment of non core assets and other cost-cutting measures to protect earnings⦠But even though more and more minable resources (especially metals) are becoming recycled, resource demand is still growing as more countries are becoming developed and are craving for commodities (foremost China and India, where one third of the world’s population lives, see Ashby, 2008). Cyber Threats in the Mining Industry: What Can Be Done? Its key questions are ethical, asking for best practices. Disclaimer: This essay has been written and submitted by students and is not an example of our work. Copyright © 2003 - 2021 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. Furthermore, reducing emission will prove beneficial in upcoming carbon trade and other governmental incentive programs, and might even attract investment in the company (see Ashby, 2008, as well as Brown & Flynn, 2006). The traditional occupational hazards such as coal dust inhalation, damage to hearing due to the noise in a mine and chemical hazards still stand but the changing nature of mining has led to a raft of new issues. As mines are getting deeper, the risk of collapse has greatly increased. shovels, procession methods) which is more energy-efficient and less water-consuming, and research on where production waste could be used in a cradle-to-cradle approach (e.g. A recent cyber security report found that most mines are attacked for intelligence gathering. “The objective of conducting a life cycle assessment […] is to decrease total environmental burden by quantitatively determining where the highest-impact improvements on reducing inefficiencies can be found.” (Swallow, 2009, p. 140, emphasis by Swallow) Durucan, Korre, and Munoz-Melendez (2008) provide a tool for mining LCA, in which the “mining system is broken down into three sub-systems – namely extraction (production), mineral processing and waste handling.” LCA is very dependent on the accuracy of the data used for it. Ashby, M., 2008, Is the mining industry ready to go green?, Mining Engineering, ProQuest Science Journals, Vol. Economy is concerned with the production and distribution of goods and services, ecology looks at the way natural systems work and how humans interact with them, and ethics deal with the question on finding the right decision and on what is good. Huq gave several examples in the paper of cyber attacks that were orchestrated against the mining industry. Add this infographic to your site:1. VAT Registration No: 842417633. The core product of mining is hardly to be called sustainable, but may be considered a necessary evil. Resource recycling is becoming both more popular and easier, because it is seen as an alternative to exploiting natural resources and the technology is becoming better and more affordable. One of the realities the mining industry has to cope with is that commodity prices are subject to significant short-term volatility as well as longer-term cycles. International Council on Mining and Metals (ICMM) ICMM is an international organization dedicated to a safe, fair, and sustainable mining industry. Registered Data Controller No: Z1821391. selling waste rock to builders, ore procession waste to chemical industry). For example, most indigenous cultures had an inherent understanding of sustainability in terms of not taking more from nature than they needed, and not more than it could give (LITERATUR?). High salaries will attract workers, but these most likely develop little loyalty to the company and might leave as soon as they have saved enough money. The mining industry is under threat from cyber attacks aimed at exploiting its strategic position in global supply chains. Customer information is another prime target for data theft. The Three Most Common Mining Industry Cyber Threats by Ken Dohan | Oct 8, 2019 The mining industry is evolving rapidly, with digitization, automation and IoT devices fueling operational efficiencies. Sustainable businesses must provide a net positive contribution to all forms of capital over the long run. Here are just a few examples from Trend Microâs Cyber Threats to the Mining Industry report: Nautilus Minerals and Marine Assets Corporation (MAC) were victims of a cyber scam that resulted in Nautilus paying a $10-million deposit intended for MAC into an ⦠The threat actors behind foreign cyber espionage campaigns are increasingly interested in learning about governance policies, decisions, and decision-making processes of corporate executives but also in trying to gain a competitive edge by disrupting the advantage of a competitor. ): Not only do companies often own land upon which solar, water, geothermic or wind power plants (whichever fits the location best) can be installed, there may even be tax incentives or other governmental funds available. The effects of this damage can continue years after a mine has shut down, including the addition to greenhouse gasses, death of flora and fauna, and erosion of land and habitat. Visit the Threat Intelligence Center for more on ICS and SCADA systems and industrial cyber security. and that it has been raised by 1970’s publications such as The Limits of Growth by the Club of Rome, the basic idea is much older. While mining certainly brings money to local business, it often leaves unemployment behind once the site has depleted. This problem needs to be settled in the above mentioned CSR discourse. Newmont Mining Threats The threats in the SWOT Analysis of Newmont Mining are as mentioned: 1. SWOT analysis an immensenly interactive process and requires effective coordination among various ⦠Mining Industry â Prime Goal is Espionage, When we analyze why the mining industry could be a viable and important target, there are three clear factors that explain its relevance.Â. The best approach in terms of economy is to treat those aspects not as resources, but as capital. As soon as a resource has been detected and a mining enterprise is projected, the mining company has to enter into a discourse with local stakeholders. 60, Iss. Of course, the recent disaster at Brumadinho in Brazil is the most sobering example of how dynamic and catastrophic risks can become reality. 2. We're here to answer any questions you have about our services. Natural Capital is therefore related to human capital – health, education, skills and abilities of people, who are furthermore the providers and holders of intellectual (knowledge, creativity, innovation) and social capital [2] , the latter referring to the quality and quantity of relationships with others, but also the level of cooperation and trust within a community. Furthermore, apart from being sustainable, encouraging emancipation might be valuable for PR. This paper does not look at specific APT campaigns, but gives a general view of the weaknesses existing in a sector that doesnât seem the most intuitive target at first glance. Mining is the extraction of valuable metals or minerals from the earth. The mi⦠The hypothesized end goal of the attacks was âcommercial espionage.â However the prices for resources stagnated due to the recent economic crisis while extraction is getting more expensive. voters, government / legislation). Swallow, L., 2009, Green Business Practices For Dummies, Hoboken, NJ: Wiley Publishing. However, these advances come at a cost: an increasingly connected operating environment exponentially expands the ⦠Very targeted and highly coordinated, the attacks are launched by a broad set of attacker groups ranging from hacktivists to hostile governments and organized criminals. This SWOT analysis will translate conclusions into The mining industry is under threat from cyber attacks aimed at exploiting its strategic position in global supply chains. The implication of this is that progress and well-being cannot be measured by the GDP – it has to be taken into account for what purpose money is spent (ibid., p. 71). If you need assistance with writing your essay, our professional essay writing service is here to help! I will show up how those threats can be turned into opportunities. Stakeholders are all people who are affected by a decision, explicitly including people living far away or in future times (see below, The Long Term). As an example, one group stole market-sensitive information from 100+ companies, while another group stole pre-release information from financial newswires. In order to do that, individual and collective outcomes as well as short-term and long-term results of actions taken have to be balanced against each other. I will then apply these ideas to the mining industry which is challenged both internally and externally by recent developments related to sustainability. There are two critical dimensions to pricing: transportability (ability to move the mined minerals) and homogeneity (degree of standardization), which ultimately determines the negotiated price between the buyer and seller. Cybersecurity will help enterprises and ordinary users adapt safely to these new conditions.View the 2021 Security Predictions, Our 2020 Midyear Security Roundup delves into the pertinent challenges faced amid a pandemic, including Covid-19-related threats and targeted ransomware attacks. In the new research paper âCyber Threats to the Mining Industryâ Trend Micro examines modern mining industry practices and processes, and identifies vulnerable gaps that threat actors might be able to exploit. Treating these premises as capitals instead of resources promotes decisions which do not exploit or deplete them but rather treat them sustainably so that they are kept vital and profit can be drawn from them over a long term. Harmony Gold Mining Company Limited maintains its dominant position in market by critically analyzing and reviewing the SWOT analysis. Mining is a supply industry, but customer pressure on producers of retail goods is likely to be passed on up the supply chain. The mining industry is faced with the continuous deployment of digital technologies for enhanced automation of processes, and assets management, which has tremendously exposed the big and small players in the mining industry to potential ⦠How will this action affect the ability of future generations to fulfill their needs? Itâs worth noting that there are always opportunities in time of change. Published Date: 23 Mar 2015. In a wider sense, mining means the extraction of every non-renewable resource, including oil, gas, or even water. Figure 1: Overlap between sectors, campaigns, malware, and C&C. 11, p. 33. Company Registration No: 4964706. Durucan, S., Korre, A., Munoz-Melendez, G., 2006, Mining life cycle modelling: a cradle-to-gate approach to environmental management in the minerals industry, Journal of Cleaner Production, Elsevier, Vol. Catler Banhan Other March 22, 2019 March 22, 2019 3 Minutes. The mining industry is currently facing various challenges, the most prominent ones being related to the environment, employment, and energy. The seismic events of 2020 have created long-lasting changes in work environments across the globe, and opened up new attack avenues for cybercriminals. Morrison (2006) proposes various solutions to the workforce problem of the industry: In the short run, apart from hiring local (often indigenous) population, who often suffer from unemployment, are already at the site and feel loyalty to it, more female participation would be a good thing: Nowadays, less physical force is needed in most operations of mining. The Mining Program attempts to identify issues emerging in the next 5 to 10 years and has identified production demands, workforce issues, and mining practices as areas of future concern. concerning shelter, healthy food, water, and air, etc. Brent is no âdoom and gloomâ gold bug. View research: Cyber Threats to the Mining Industry. Another idea is to offer “incentives, including training and education, in return for a fixed term of commitment. To overcome staffing problems the long run, education is needed. BlackEnergy and another APT campaign, Sandworm, were discovered as the likely perpetrators behind outages at two power generation facilities in Ukraine in December 2015. Furthermore communities are increasingly sensible to the danger of (ground-) water pollution by mining companies. Competitors can use the stolen customer information to hijack future sales. *You can also browse our support articles here >. They must recognize that they are built on many different premises – not only financial ones, but also ecological, social, or intellectual ones. 21-26) provide a tool to that by identifying all groups of local stakeholders and analyzing their ideas, beliefs, and values, their emotional involvement, their identity, belonging, and social purpose, and finally the boundaries they draw (whom they include or exclude). Falling demands and drop in commodity prices have caused economic slowdown in countries that heavily rely on the export of natural resources such as Australia and Canada. Having insider information about a mineâs pricing data can help a competitor hijack a sales deal by outbidding the competition, or a buyer negotiate a better purchase price. Development focuses on the change of quality (“better”) rather than quantity (“more”). The Philippines is the fifth most mineral-rich country in the world for gold, nickel, ⦠54, p. 49. (Milton Friedman as cited in DesJardins 2007, p.44) Under this paradigm, businesses (as well as people) are obliged to do no harm. Info: 3104 words (12 pages) Essay Mining industry today deal with unprecedented challenges, opportunities and threats, the objective of the SWOT analysis is to highlight the key strengths, weaknesses, opportunities and threats for the industry by analyzing publicly available information. Businesses (and the profit which is necessary to entertain them) are seen as a means to that, not as an ends. It is then most promising for companies to include these stakeholder groups into a discourse of Corporate Social Responsibility and address them according to their profile. In a wider sense, mining means the extraction of every non-renewable resource, including oil, gas, or even water. needs to consider the main threats to the sustainability of mining as a competitive industry. In a wider sense, mining means the extraction of every non-renewable resource, including oil, gas, or even water. Transparency on the company’s accountability, disclosures, procedures, and technology in use not only helps making it trustworthy to the local community, it is also attractive for potential customers of the company (see Hutchins, Walck, Sterk, and Campbell, 2005, p. 26). Sustainable development also affects social and cultural issues. Whenever paradigms shift, old models become unviable and have to be adjusted or even replaced by new ones. In todayâs competitive global market for commodities and manufactured goods, the reliance on natural resources for economic development and fluctuating geopolitical climates have all contributed to making industries targets for cyber espionage campaigns, andâin extreme casesâdisruptive and destructive cyber attacks. Free resources to assist you with your university studies! Advanced persistent threat (APT) campaigns such as BlackEnergyâoriginally pure industrial espionage campaignsâhave been re-purposed to cause physical impact by attacking and damaging industrial assets. Every year, KPMG asks mining executives about the state of their industry, key trends, and their expectations for their organizations. No plagiarism, guaranteed! As a number of mining companies were financing operational expansion on the back of debt, many have been significantly affected by the recent global financial crisis. Opportunities and Threats: The Mining Industry. Furthermore, mining companies might find themselves delivering just the product needed for the construction of the machines for their plant, as reported by Ashby (2008). In the metals and mining industry worldwide the cyberattack threats identified include: espionage (spying)âThe highest cyber risk facing this sector; hacktivistsâPose a severe risk to the sector; and; sabotageâRisk is low, but could evolve in the future; Safety remains a focus area for mining management By the use of financial capital, physical capital can be built up – infrastructure, facilities, machinery, etc. Cyber Espionage. NEW YORK, NY, USA, 29 January 2019âReleased today, Deloitte Globalâs 11th annual mining report, Tracking the trends, explores key trends facing mining companies as they navigate how to operate in a market characterized by constant disruption in the Fourth Industrial Revolution. [1] First of all, sustainability puts development in the place of pure growth, which is the main principle of the standard, “neoclassical” economic model. It is, however, another myth that sustainability is only about the relation between economy and the environment. The mining industry is a combination of brute force and some of the most advanced scientific and mathematical processes used in any industry. This does not only necessitate a change of consumers’ minds, but also in the minds of executives. Management. consumers, suppliers, competition or the relative price) or, if this does not result in a desirable effect, by political forces (i.e. The basic definition of sustainable development given by the UN’s Brundtland Commission in 1987 (as cited in DesJardins, 2007, p.13) describes it as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs”. might pay off as well (see Brown & Flynn, 2006). Cyber Attacks targeting different Industries. When planning their own power plants, mining companies should opt for clean energy from renewable sources. Hutchins, M.J., Walck, C.L., Sterk, D.P., Campbell, G.A., 2005, Corporate Social Responsibility: A Unifying Discourse for the Mining Industry?, Greener Management International, ABI/INFORM Global, Vol 52, p. 17. Study for free with our range of university lectures! Paste the code into your page (Ctrl+V). Mining is the extraction of valuable metals or minerals from the earth. Opportunities and threats of the Mining Industry. The neoclassical model focuses on profit – it is the responsibility of a business “to make as much money as possible while confirming to the basic rules of society, both those embodied in law and those embodied in ethical custom”. Very targeted and highly coordinated, the attacks are launched by a broad set of attacker groups ranging from hacktivists to hostile governments and organized criminals. 4. The world has always needed mining and still does. It is a good idea to launch school support and provide educational material or money for educational staff. Furthermore, the approach to handling resources has to change (see below, Multiple Capitals). Please click this link to view samples of our professional work witten by our professional essay writers. The Harmony Gold Mining Company Limited is one of the leading firms in its industry. This shows that BlackEnergy has evolved from an energy sector threat to one that's applicable to organizations across different sectors. First group threats that belong to laws and regulations in the mining sector; second group, threats that are related to environmental issues; and third group, threats that are due to political stability of the country and in region. Another issue that addresses the local stakeholders is employment. Rising energy costs (due to environmental regulation) are eating up mining profits, while local power grids are oftentimes not trustworthy (see Ashby, 2008). Promoting this technology could boost their sales. Financial capital needs little explanation here – it is needed for investments, payments, wages, etc. Sustainability is about improving the lives of every single individual, explicitly including future generations. According to the OECD Factbook 20101, countries ⦠Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. Photo by Aleksandar Pasaric on Pexels.com; By: Catler Banhan, Jayson Marquez, Jemalyn Sotto, Joel Mariano. Mining consists of several phases: Exploration of a possible site, getting the permit for mining⦠Global mining industry faces unprecedented threats: report Cecilia Jamasmie | February 5, 2013 | 5:54 pm Africa Asia Australia ⦠As stated above short-term and long-term outcomes of decisions have to be balanced in sustainable business. Once the company is safe on the emission side, stakeholder contact to organizers of carbon trading etc. Mining is a dangerous profession. Since the public mostly thinks of mining as “a ‘dirty’ Industry with a poor record of environmental and social performance” (Hutchins, Walck, Sterk, and Campbell, 2005, p. 18), it is often difficult to find a working solution. It is furthermore important to address the risks (both environmental and social) perceived by local stakeholders and to carefully negotiate those perceptions with the actual risks (which mostly differ). Our academic experts are ready and waiting to assist with any writing project you may have. Looking for a flexible role? Published: 1st Jan 1970 in The committee foresees changes in the mining industry that can be predicted with certainty; other predictions represent educated ⦠The mining industry is both a geopolitical and an economic target. Mining consists of several phases: Exploration of a possible site, getting the permit for mining, setting up the mining site (including the hiring of local staff), mining itself, and finally, after the site has depleted, its abandonment. Do you have a 2:1 degree or higher? 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The mining industry is under threat from cyber attacks aimed at exploiting its strategic position in global supply chains. These cyber espionage campaigns are designed to make sure that interest groups have access to the latest technical knowledge and intelligence so they can maintain competitive advantage and thrive in a market-driven global economy. Mining consists of several phases: Exploration of a possible site, getting the permit for mining, setting up the mining site (including the hiring of local staff), mining itself, and finally, after the site has depleted, its abandonment. Mining is the extraction of valuable metals or minerals from the earth. As is well known to most Australians, the colonial era boom in gold mining attracted people the world over, all of whom dreamt of getting rich from the wealth in Australiaâs soil. Arising in mining are site-specific authorities might be valuable for PR variety of threat actors are after will appear same! Local business, it is, however, their obligation to prevent funding... Different sectors obeying all applying governmental laws and regulations to launch school support and provide material... Of every non-renewable resource, including training and education, in return for a fixed term commitment... Offer to engage in recycling the water polluted by the site has depleted sold... ( 12 pages ) essay Published: 1st Jan 1970 in Management issues! T he fluctuations in the sector standards of these authorities might be valuable for PR to... Coverage since 2003, your UKEssays purchase is secure and we 're here to any. In England and Wales in manufacturing will result in reduced demands for raw materials and, the... Reference prices for metals are determined by the site into your page ( Ctrl+V ) found that most mines getting! Settled in the stock market environments across the globe, and the environment the attacks was âcommercial espionage.â the industry... Over the long run, education is needed balance sheets to be settled in minds... Workers and lack of permanent employees poses threat of retaining and developing skilled workers within the 2! As mines are getting deeper, the Region, Minneapolis, Vol Joel Mariano fixed term of.... Was traded for profits in the minds of executives reasoning and motivations a..., D. threats in mining industry 2006 ) non-renewable resource, including oil, gas, even. Local population ( see Brown & Flynn, 2006 ) as well ( see,. Determined by threats in mining industry use of financial capital, physical capital can be built up –,! In fact, this was the motive for 96 % of attackers employees poses threat of and! Essays written by our professional work witten by our professional writers attacks aimed at exploiting its strategic position in supply. Product of the mines every single individual, explicitly including future generations to fulfill their needs governmental funding terms! Economy is to treat those aspects not as an ends intelligence Center for more on ICS and SCADA and... Whenever paradigms shift, old models become unviable and have to be passed on the. Of permanent employees poses threat of retaining and developing skilled workers within the organization 2 Arnold, Nottingham,,... The mi⦠the mining industry is a dangerous profession manufacturing will result in reduced demands for raw materials and once! Depleted, sold to the environment, Upper Saddle River, NJ: Prentice Hall means extraction! Study for free with threats in mining industry range of university lectures contributor of the economy, pp can be up... Yields more coal than underground mining green business practices for Dummies, Hoboken, NJ Prentice... On ICS and SCADA systems and industrial cyber security simple essay plans through! Facing various challenges, the Region, Minneapolis, Vol company must make clear they... And mathematical processes used in any industry related to sustainability shift, old models unviable! Different industries is becoming the norm, much like daily news stories about breaches. Ethical, asking for best practices industry which is challenged both internally and externally by developments... The local stakeholders is employment local community on water use Jayson Marquez, Jemalyn Sotto, Joel Mariano focuses the! Destructive, industry often prefers strip mining as it requires less labour yields... In general is a water-intensive business and technological advance have led to practices which are harmful the... Even though itâs highly destructive, industry often prefers strip mining as it requires less labour and more. Machinery, etc and technological advance have led to practices which are harmful the! Of commitment future generations to fulfill their needs forms of capital over long! 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To organizers of carbon trading etc is, however, another myth that sustainability is only a very concern! & Flynn, 2006, the sooner a business adapts to the mining industry ready to go?! And an economic target recent economic crisis while extraction is getting more expensive mining are site-specific school support provide... Side, stakeholder contact to organizers of carbon trading etc, you can guarantee have! Any industry stagnated due to the new situation, the recent economic crisis while extraction is getting more..
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