Managing risk in the mining sector

Lynda Andeobu

PhD student, School of Commerce, Federation Business School

Managing risk and enhancing corporate sustainability in the Australian extractive sector: an exploratory study of leading mining and oil and gas firms in Australia.

Australia has a strong mining and oil and gas sector that makes a significant contribution to the Australian economy and to the wellbeing of all Australians. Like other businesses, there is a need to manage all forms of risk especially in the high-risk extractive industries of mining and oil & gas. Lynda’s research is crucial to these industries because she is evaluating how the risks inherent in extractive sector activities and operations can be better managed to improve financial performance, add value to stakeholders, and enhance sustainability and firm long-term survival in Australia’s extractive sector. Her research is actively engaging the top 10 mining/metals firms and top 10 energy/utilities firms operating in Australia. She is exploring and compiling the ideas, views, and perceptions of risk management from the managers and senior executives of these companies.

“My research will provide valuable insights that will assist extractive sector firms and, in particular, the selected firms to better determine whether they have sufficient awareness and capacity to respond to the risks they must face, and to identify what risk management practices they can effectively leverage. This will provide a means to identify, manage and prioritise risks across the sector and link them to value creation”.

With a professional background in accounting and finance, and work experience with high profile financial services firms, Lynda now benefits from her everyday interactions with academic experts in finance at FedUni and the ample opportunity for learning and networking with other research students.

Lynda particularly enjoys studying at FedUni because it offers her the opportunity to study at a regional university setup away from the hustle and bustle of city life and to explore Australia’s natural environment away from the city. “I feel like I am part of a community and get to know new people and make new friends. In addition, FedUni has commitment to innovation, world-class facilities, diverse student population and a supportive environment for learning”.

Lynda advocates for younger girls and women considering undertaking post graduate research to use the early years of their career to acquire valuable skills and to experience other ways of thinking, learning, and being. “Being a successful academic requires persistence and perseverance and I encourage women to start a career in business because it has endless opportunities and horizons.”

Lynda is a recipient of several academic excellence awards from FedUni and other institutions including the prestigious Golden Key International Honour Society. In 2016, at the Sydney Business and Finance International Research Conference (with delegates from 118 countries), she won the best research paper award based on her PhD research.