Common use of Risk Identification Clause in Contracts

Risk Identification. A strategic approach to risk management depends on identifying risks against key organisational objectives. Operating within this framework helps ensure a consistent approach across the organisation and enables a clear structure to be established. The mandate of Mintek is set out in the Mineral Technology Act (Act No. 30 of 1989), which is to serve the national interest through research, development and technology transfer, to promote mineral technology and to xxxxxx the establishment and expansion of industries in the field of minerals and products derived therefrom. The vision of Mintek is to be a global leader in mineral and metallurgical innovation. The mission of Mintek is to serve our stakeholders by adding value to the mineral sector through research, development and technology transfer, in support of national priorities and sustainable growth. In order to support the mission the Mintek Board will, from time to time, identify Strategic Objectives for the guidance of Management. These Strategic Objectives will be expanded further into Targeted Activities (TAs) to aid the identification of risks. The Strategic Objectives and TAs will be listed in the Risk Implementation Plan. Mintek will identify the risks relevant to these TAs, which forms the basis of Mintek’s Risk Implementation Plan (copy appended), and each risk is cross- referenced to one or more of these TAs.

Risk Identification. A strategic approach to risk management depends on identifying risks against key organisational objectives. Operating within this framework helps ensure a consistent approach across the organisation and enables a clear structure to be established. The mandate of Mintek is set out in the Mineral Technology Act (Act No. 30 of 1989), which is to serve the national interest through research, development and technology transfer, to promote mineral technology and to xxxxxx the establishment and expansion of industries in the field of minerals and products derived therefrom. The vision of Mintek is to be a global leader in mineral and metallurgical innovation. The mission of Mintek is to serve our stakeholders by adding value to the mineral sector through research, development and technology transfer, in support of national priorities and sustainable growth. In order to support the mission the Mintek Board will, from time to time, identify Strategic Objectives for the guidance of Management. These Strategic Objectives will be expanded further into Targeted Activities (TAs) to aid the identification of risks. The Strategic Objectives and TAs will be listed in the Risk Implementation Plan. Mintek will identify the risks relevant to these TAs, which forms the basis of Mintek’s Mintek‟s Risk Implementation Plan (copy appended), and each risk is cross- referenced to one or more of these TAs.