Willis and Towers Watson have merged. Visit willistowerswatson.com

Related Solutions

Mining & Metals

  • We work with a range of mining & metals companies to identify and prioritise their exposures.
  • We create optimal and tailored strategies so you can make informed risk decisions.
  • We are recognised worldwide as one of the leaders in this sector.

Overview and Capabilities

The Willis Mining and Metals Group is a recognised global leader in risk management with deep knowledge and understanding of the sector's major issues. Our specialists work with mining clients throughout the world and have developed risk solutions for both domestic and global exposures.

Our clients range from the world's largest mining conglomerates to small independent operators. We understand the full spectrum of risks that mining companies face and the significant challenges that arise through all phases of project development and at every stage in the corporate lifecycle. Our role is to help manage the volatility of your business in order to bring a greater degree of certainty. We view ourselves as a strategic business partner, focused on delivering real value both in risk management and risk transfer.

Helping our clients to control and effectively manage their evolving risk and regulatory challenges is at the core of our proposition. Many of our clients operate some of the largest and most complex programmes in the Mining sector and do business in some challenging territories and environments. Our specialists have the experience, industry expertise and training to deliver clear guidance, at speed. So wherever a client may be in the exploration, production, construction or operational life cycle, we ensure that their risks are effectively managed from a contractual and regulatory standpoint. Our team of in-house lawyers and wording specialists are experts in reviewing existing contract obligations and in developing best in class wordings to maximise protection and help limit liability.

Key Challenges

Mining and metals businesses are operating in an environment characterised by increasingly complex risks:

    • Squeezed margins: operating costs are increasing whilst commodity prices are drifting downwards, creating squeezed margins for many.
    • Barriers to capital: at the same time, companies have struggled to access capital in order to finance projects, while costs associated with regulatory compliance have continued to rise.
    • Geo-political threats: the ongoing threat of resource nationalism in emerging economies has added to uncertainty for shareholders and lenders
    • Corporate Social Responsibility risks: Demonstrating strong health and safety cultures for employees and retaining and attracting talent continue to be key challenges for the industry.

Many of our specialists have previous experience as Mine Managers, Risk Managers and Mining Underwriters, and have the breadth and depth of industry knowledge and experience to advise on a wide range of current and emerging risks. The Willis Mining and Metals specialists operating around the world, located primarily in hub offices in London, North and South America and the Australasian region, understand the challenges faced by your industry and have market leading sector experience in harnessing risk identification, retention and mitigation tools to traditional risk transfer solutions.

We understand how your risk profile changes as you move through the mining life cycle, from the pre-feasibility stages all the way through to rehabilitation. We are able to accurately identify, assess and track key insurable and non-insurable risks that may affect the delivery of your business plan. Our Mining Risk Engineers have direct experience of working in senior roles in the industry, while publications such as the market-leading Natural Resources Market Review give you in-depth analysis of issues affecting the Mining sector.

Identifying and Analysing Your Risk

Effective risk management strategies are those that are embedded across the enterprise. Willis Mining and Metals specialists work with our analysts to bring the most modern and sophisticated risk management techniques to your programme, thereby enhancing your risk culture and optimising your risk costs. We operate as a strategic business partner and challenge assumptions to deliver the best solutions, and ensure that risk management strategies are aligned and integrated with operational goals to reduce uncertainty and enhance your market position.

Our risk management specialists regularly reassess strategies so that they remain relevant to your business – this is not a one-off process confined to the insurance renewal. We help captive insurance companies to deliver the most efficient financing and the most responsive services to both Group and business unit management.

Optimising Your Risk

We combine sector knowledge with analytical capabilities to design optimal risk programmes. We apply proprietary risk analytics, tools and sector knowledge to help our clients make more informed risk management decisions. Our risk analysts understand the models used by the insurance market, and combine this knowledge with proprietary tools and technologies to give you the advantage. We establish the most economically efficient balance between risk transfer and retention by setting appropriate limits and deductibles in line with your risk appetite. The results from the analytics justify insurance buying strategies to senior management and other stakeholders.

Protecting Your Risk

Our risk engineers complement our clients' own engineering expertise, to reduce their exposure to loss and improve their operational resilience. We create a wider pool of potential insurers for our clients through the provision of high-quality technical information.This is supplemented by analytics and benchmarking from our wide client base and policy wording expertise, which enables our clients to benefit from the broadest coverage available in the insurance market.

Our risk management specialists regularly reassess client programmes so that they remain relevant – this is not a one-off process confined to the insurance renewal. We ensure that our approach to risk transfer is fully aligned to our clients' business and their strategic priorities, through achieving premium efficiency by obtaining broad and clear coverage at the most competitive price, through access to global markets via specialist industry hubs around the world and through transparent market selection, based on statistical analysis of insurer competitiveness, rating, claims performance and service. We also ensure the generation of new market capacity for the sector from both mature and developing markets, as well as ensuring that the interests of lenders are upheld ( as well as other stakeholders in the client's risk financing arrangements).

Developing Long-Term Solutions for Your Risk

Having a robust understanding of key exposures through the project value chain is a vital part of effective risk management. So we provide solutions for the additional Directors & Officers' exposures that new projects bring, while our Project Finance team offers expert advice on M&A transactions and joint venture agreements across the world. We are one of the world's largest Political Risk brokers and understand the investment risks associated with doing business in less secure environments.

We are also focused on protecting the financial metrics of our clients, their people and their assets. We understand that as your company grows, you need reliable information on territories into which you are expanding. So we provide territorial and project specific reports to help our clients make better decisions regarding investment strategies, as well as risk assessment reports in order to help reduce project investment risk profiles. This information can increase the Board's confidence levels in strategic decision making.

What do our Clients Think?

"I am continually impressed by the Willis mining practice's dedication to me as a client. We recently made a major foreign acquisition that doubled the size of our company. Their role in crafting new solutions to satisfy regulators and banking partners was vital to the deal getting done."
Jennifer S. Grafton, Chief Administration Officer, Westmoreland Coal Company

"The Willis Group is well represented across the African continent and this, together with their dedicated Mining resource, compliments and responds to our high and demanding service standards."
Colin Chapple, Risk Manager,GlencoreXstrata

Clients we work with include:

  • Copyright © 2019 Willis Towers Watson