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Podcast

Mining in 10 minutes - Ep. 1: Building resilience among geopolitical instability

Episode 1 of ‘Mining in 10’ – Host Raul Munoz and expert guest Stephen Kay discuss the implications of geopolitical risk and proactive pathways to resilience.

The mining sector sits at the intersection of geopolitical tensions, due in large part to the high demand and significant international competition for the materials and metals necessary to support industrial development, electrification, and decarbonization efforts.

Macroeconomic and geopolitical shifts pose unique risks to the mining sector, as their unpredictable and time-sensitive nature can have immediate repercussions on the production of critical resources globally.

In our first episode of ‘Mining in 10’, a 5-part webinar series where we explore top mining risks and pathways to building resilience, Raul Munoz, Mining and Minerals Leader for North America, chats with subject matter expert Stephen Kay, Managing Director of Credit Specialties out of Montreal.

Together they give context to geopolitical threats, their real-world implications to mining companies, and how to protect your operations from future vulnerabilities.

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Key takeaways

Geopolitical events are time-sensitive and often have immediate repercussions

Governmental processes have designated dates and forums for decisions, allowing proactivity.

Know your region’s political risk exposures

Analyze and understand local political violence, expropriation/nationalization risks, restrictions on fund conversion, credit risks, and labor practices.

RESILIENCE: THE NEW CURRENCY OF MINING LEADERSHIP

Access strategies to secure a stronger, more sustainable future for your organization.

About our speakers

Raul Munoz

North American Mining & Metals Leader

  • Canada

Raul Munoz leads Marsh’s Mining & Natural Resources practice across the United States and Canada, overseeing strategy, client engagement, and industry development for one of the firm’s most important global sectors. He advises mining companies, project developers, investors, and lenders on managing risk throughout the mining lifecycle, from exploration and project development to construction, operations, and closure.

Stephen Kay

Managing Director – Marsh Credit Specialties

  • United States

Stephen is Managing Director at Marsh Credit Specialties based in New York and Montreal, working on strategic clients. He is a 16-year veteran of Marsh following a career in credit and political risk underwriting and banking at AIG, Citibank, Royal Bank of Canada and EDC. Prior to his current role, Steve was global Head of Infrastructure Business Development at Marsh and formerly led Marsh’s US Credit Specialties team focusing on non-payment insurance for development banks, multilateral clients and commercial banks, and on political risk insurance (PRI) for lenders and corporate clients. Stephen recently co-authored Marsh’s white paper co-published with S&P Global entitled “A new perspective on the cost and benefits of political risk insurance”, which takes an innovative look at Political Risk Insurance through a quantitative lens, using a capital budgeting framework.

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