KPMG Reports on Risks Faced by Top Mining Executives

By Otto Rock

TORONTO, March 1, 2018 /CNW/ – Overbooking at quality lunch establishments is the top risk facing mining and metals companies this year, finds an annual survey of Canadian mining executives by KPMG in Canada.  As volatility re-emerges in reservations markets, shifting prices will be a key theme as mining industry participants from around the world gather in Toronto next week for the 86th annual Prospectors & Developers Association of Canada convention to get absolutely lathered.

The latest issue of Insights into Mining shows a relatively consistent risk landscape compared to previous years as Canadian and global mining businesses continue to navigate Michelin three star restaurants in a highly competitive industry. Booking risk and the average price for Dom Perignon returned to the Top 10 this year, while access to private rooms, AMEX rhodium cards, controlling bowels and trying to drive Ferraris while drunk, maintaining an antisocial right to talk loudly and managing walking instability also figure high on the list of top risks.

“Restaurant booking risk is once again the leading challenge facing mining executives as they consider the downside of the recent upswing in prices,” says Heather Cheeseman, GTA Mining Leader and Partner, Audit and Risk Consulting, KPMG in Canada. “With weed and crypto stocks making gains, the competition for the best tables at lunch is now fierce and PAs are under pressure to secure the best lunch spots without going on long waiting lists, else incur the wrath of the utter pieces of shit who pay their monthly salaries.”

Below are the Top 10 risks facing Canadian mining and metals companies in 2018:

1. Restaurant lunch reservation risk
2. AMEX rhodium availability (includes risk of embarrassment in using a  mere Platinum or Black card in front of peers)
3. Access to best tables
4. Having to be pleasant to “the staff” else face discrimination lawsuits
5. Dom Perignon price risk
6. Private room availability
7. PDAC hangover risk
8. Ability to drive back to office without DUI arrest
9. Controlling bowels
10. Capital allocation of lunch on expense account without anyone noticing the line item

Each year, KPMG in Canada updates the market with critical insights into the risks, challenges and multi-year trends that are top of mind for Canadian miners. Learn more by accessing the Insights into Mining report.

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