Technological advancements are generally seen as opportunities for mining companies to improve efficiency and reduce costs, rather than a financial risk.

The goal of financial risk management is to reduce the negative impact of financial risks on a company's operations and financial performance.

Cost reduction is not a direct strategy for mitigating commodity price volatility risk. It is more commonly used to mitigate operational costs risk.

Hedging is a financial instrument used to reduce the risk of price fluctuations by locking in a fixed price for a commodity.

Diversification is not a direct strategy for mitigating operational costs risk. It is more commonly used to mitigate commodity price volatility risk.

Political risk insurance is a financial instrument used to protect mining companies against losses resulting from political instability, such as expropriation or nationalization.

Diversification is not a direct strategy for mitigating environmental risk. It is more commonly used to mitigate commodity price volatility risk.

Environmental impact assessment is a process used to identify and assess the potential environmental impacts of a mining project, and to develop measures to mitigate these impacts.

Diversification is not a direct strategy for mitigating social risk. It is more commonly used to mitigate commodity price volatility risk.

Community engagement is a process of building relationships with local communities and addressing their concerns related to a mining project.

Technological advancements are generally seen as opportunities for mining companies to improve efficiency and reduce costs, rather than a financial risk mitigation strategy.

Insurance is a financial instrument used to transfer financial risks from a mining company to an insurance company in exchange for a premium.

Diversification is not a direct strategy for mitigating legal risk. It is more commonly used to mitigate commodity price volatility risk.

Compliance with laws and regulations is essential for mining companies to operate legally and avoid legal risks.

Diversification is not a direct strategy for mitigating reputational risk. It is more commonly used to mitigate commodity price volatility risk.

Corporate social responsibility is a commitment by a mining company to operate in a manner that is ethical, sustainable, and beneficial to society.