The mining industry sits at the heart of the global economy and is a foundational component of the energy transition, supplying the critical minerals needed for electronics, electric vehicles, and renewable energy systems. For North American miners, embedding resilience into every stage of their decades-long lifecycle is necessary to lead this global charge.
In today’s challenging environment, blind spots are costly. Unplanned disruptions – whether stemming from climate-related events, equipment failures, cyberattacks, geopolitical shocks, or people risks – can halt production, undermine stakeholder confidence, and drive financial losses. Resilience is no longer merely a defensive stance; it is now a source of advantage.
Understanding the climate risk landscape
The mining industry is uniquely vulnerable to the consequences of climate change due to its reliance on the natural environment and the long operational lifecycle of its projects. Risk managers and executive leaders must consider impacts extending decades into the future.
According to the 2025 Global Risks Report, extreme weather is identified as the second highest risk most likely to present a material crisis globally in 2025 and is the primary long-term risk over the next decade. As the planet warms, extreme weather events are likely to become more frequent and severe.
While climate risk focuses specifically on the consequences of adverse weather, rising temperatures, and the transition challenges related to decarbonisation, mining companies must also address broader sustainability and governance risks. These encompass environmental concerns like pollution, water scarcity, and biodiversity loss, alongside the social and regulatory implications of these challenges.