Earth AI, Legacy Minerals make first greenfield palladium discovery using artificial intelligence
The companies announced the verified discovery of one of the largest palladium mineral systems in Australia.
Newcrest Mining (ASX:NCM) is the one Australian mining major exposed to the greatest level of country risk with 63% of its assets situated in nation-states categorized as ‘very high-risk’ by analysts.
Gillian Tan writing in the Australian cites the findings of Citi research analyst Elaine Prior who says that Newcrest’s operations in developing countries expose it to a far greater level of risk than Australia’s two other mining majors BHP Billiton (ASX:BHP) and Rio Tinto (ASX:RIO).
Prior calculates that 63% of Newcrest’s assets are situated in countries categorized as ‘very high-risk’, including Papua New Guinea, Indonesia and the Ivory Coast, compared to 14% for Rio Tinto and 1% for BHP, the later of whom’s growth assets are primarily located in OECD nations.
Offshore business operations in developing countries confront a long list of potential contingencies and perils, including civil unrest, political turmoil and official corruption, as demonstrated by the recent travails of Australia’s Intrepid Mines.
