Risk Management

Leinster Nickel Operation commenced the implementation of the Integrated Operational Risk Management (IORM) process in March 2004.

Risks have been identified, quantified and recorded in the IORM risk register (an online web-based risk assessment and recording tool). Risks were quantified in terms of their potential to cause loss of life, environmental impact and potential financial impact on the operation. Key personnel have been trained in the use of the risk register.

Information recorded in the risk register is used to reduce identified risks. This is achieved by reducing the frequency of events associated with the risk or reducing the consequence of the risk. Actions focus on the improvement of control programs and the identification of plant upgrades. The identified actions will be addressed as a part of the capital and operating expenditure planning process.

Audits and Assurance Reporting

All WMC EHS MS Standards are audited every two years and a minimum of five WMC Major Hazard Standards are audited annually to assess the site's performance against corporate and statutory requirements. In 2003, all EHS MS Standards were audited together with seven Major Hazard Standards. During 2004, the five Major Hazards Standards audited were Underground Mobile Equipment, Safe Working at Heights, Inrushes and Subsidence, Hazardous Materials Management and Underground Ventilation. A total of 18 Major Hazards Standards apply to the site's activities.

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