Risk considerations are central to decision-making, strategy development and planning processes.
Wesizwe Platinum has adopted and is implementing a risk management framework based on seven key pillars.
Wesizwe Platinum’s response to risks is to execute an avoidance strategy where the Company seeks to eliminate activities giving rise to the risk and to prevent any exposure to them. However, in cases such as the community, where the risk is never fully mitigated, a reduction strategy is used where the Company focuses on reducing the likelihood or severity of the risk to a point where the residual risk is tolerable.
This process of risk management is overseen by the Wesizwe Platinum Board of Directors.
Along with corporate and project risks, for the first time in 2010, Wesizwe Platinum identified and prioritised a range of sustainability risks, once again demonstrating that sustainable development is integral to the way the Group conducts business. A risk register is maintained on all three focus areas. |
