Improving the risk management mechanism at coal mining companies

In the coal mining industry, a significant portion of the industry's assets are exposed to high levels of risk at all stages of the technological process. Injuries and accidents occur to employees of coal mining companies. Therefore, all these factors have a direct negative impact on the attractiveness of investment in the industry. Occupational injuries lead not only to financial losses, but can also contribute to psychological and social problems for both the citizen and society as a whole. The creation and development of an effective integrated risk management system is highly relevant for coal mining companies.The article reflects the results of the authors' analysis of emerging risks and practical suggestions for risk management, including their minimization in the industry. Despite the active preventive measures taken by the state, a number of risks cannot be completely avoided or minimized to the greatest extent possible, taking into account the specifics of the industry.As part of the assessment and identified problems, the authors suggest ways to minimize risks, including the development of an insurance system, which should be considered as a mechanism to reduce the impact of risk on the financial and economic condition of mining and processing enterprises.The materials of the article will be of interest to representatives of the professional sphere, researchers, the public, academic staff and students of specialized universities.

coal mining industry, risks, risk management, risk controlling, insurance