We fully understand the need to continually develop effective measures to identify, analyse and ultimately mitigate risks in response to our challenging environment.
Our comprehensive risk management system encompasses all our activities. The major responsibility for risk management lies within the Risk Management Committee of the Management Board, which is headed by the CEO. In addition to analysing, monitoring and mitigating the key risks for the company, the Committee is also tasked with reviewing the end-of-year reports from the other Management Board Committees in relation to managing risks.
Considering the particular nature of the coal mining industry, we constantly focus on risks specific to the sector. We also realise that, as our production, sales and financial activities grow, the need for efficient management of a wider range of risks increases. We continue to improve the corporate system of risk management by developing effective ways of mitigating risk, which are applied right through the Group. Consequently, in 2014, we developed a more structured approach to risk assessment. We also improved the classification of information and preparation of risk assessment reports.Back on top