During the second quarter, Rio recovered from some of the operational losses it faced in Q1.

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This gives it an edge over conventional mining companies as it does not incur any operational losses in volatile market conditions.

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First, they want to build statistical models mapping the severity and frequency of past operational risk losses and use this to judge the amount of the bank's capital at risk from operational failures in the future.

ECONOMIST: Risk management

Falling coal prices and rising operational costs have been blamed for causing losses and "significant cash flow pressures".

BBC: Open cast mining