A recent survey by Pricewaterhouse Coopers found that Australian CEOs view cybersecurity risks as their greatest threat to business growth. Yet many mining executives are reporting that it would take a “catastrophic” cyber incident for industry to act and build adequate cyber resiliency.
There are three key aspects to managing cyber risk – physical security, industrial control systems and information security. Boards and leadership teams looking to ensure their businesses are protected effectively must implement products, processes and educational initiatives taking each of these areas into account.
While acquisition strategies are an essential part of fuelling future growth, the risk implications are often extensive. The acquiring business must address these throughout the transaction and subsequent integration process.
Australia’s resources sector has bounced back in 2018. This is great news for a cyclical industry that’s been through a tough spell but the upswing has an impact on risk profiles that must be taken into account.