Mining: it’s dirty, it’s volatile, and for investors, it can be downright dangerous—if you’re not paying attention.
We all know the commodities rollercoaster doesn’t slow down for anyone. From copper to lithium, prices swing, politics shift, and climate pressures don’t take coffee breaks. But behind every ounce of gold and every tonne of nickel, there’s a deeper game playing out—risk.
To make sense of the chaos, I sat down with Ed Witzerman, VP of Mining and Natural Resources at Marsh, a global leader in risk and insurance. If you think insurance is boring, think again. Ed breaks down why risk management isn’t just a back-office function—it’s the metric smart investors should be watching.
From bearish markets to geopolitical instability, Ed didn’t sugarcoat it: mining companies are in the hot seat. Environmental liabilities, operational failures, and regulatory whiplash are just the tip of the slag heap.
“The companies that survive are the ones that actually plan for disruption,” said Witzerman. “Not the ones just hoping the storm passes.”
In other words, hope is not a strategy.
Not all mining companies are created equal—and neither are their approaches to risk. So how do you spot the difference between a ticking time bomb and a well-oiled drill rig?
According to Ed, it comes down to transparency, governance, and proactive planning. Look for companies with clearly communicated risk strategies, board-level risk oversight, and yes—insurance programs that don’t just check boxes, but actually protect shareholder value.
“It’s not about avoiding risk. It’s about understanding it—and pricing it right,” he added.
When it comes to protecting investors, Ed highlights some best-in-class strategies: comprehensive operational audits, integrated ESG frameworks (not the greenwashing kind), scenario modeling for tail-risk events, and regularly updated insurance and reinsurance structures.
The takeaway? Companies that treat risk management as a core strategic pillar—not an afterthought—are the ones that keep digging through the down cycles and still come out profitable.
The mining sector isn’t going to get any less complex. If anything, it’s about to get more turbulent as the world scrambles for critical minerals, ESG pressure mounts, and geopolitical tension rises.
Whether you’re a retail investor or institutional capital, start paying attention to how your mining picks manage risk. Because in this game, it’s not just about how much they can pull out of the ground—it’s about how well they can survive the shakeups.
You can learn more about Marsh’s work in the mining space at Marsh.com (Ed’s part of the brains behind it).
Until next time—stay sharp, question everything, and invest like you mean it.
Watch the full conversation with Ed Witzerman in the video above to hear how you can set your portfolio in mining up as a solid investment.
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