The mining industry is under threat from cyber attacks aiming to exploit its strategic position in global supply chains.
This is according to a recent Trend Micro report, which says the prime goal of cyber criminal activity in the mining industry is espionage.
The mining industry is both a geopolitical and an economic target and as such, motivations for attacking the mining industry go beyond any direct monetary value, it adds.
The attacks are launched by a broad set of attacker groups, ranging from hacktivists to hostile governments and organised criminals, says Trend Micro.
Numaan Huq, senior threat researcher at Trend Micro, says the goal of every cyber espionage campaign that is launched against the mining industry is to provide particular groups with a competitive advantage in the market through access to the latest technical knowledge and intelligence.
While espionage is the prime goal for cyber criminals operating in the mining industry, other reasons include economic factors, theft of pricing information and hacktivism, says Trend Micro.
"Having insider information about a mine's pricing data can help a competitor hijack a sales deal by outbidding the competition, or a buyer negotiate a better purchase price or change the terms of a takeover bid."
Also, customer information is another prime target for data theft - competitors can use the stolen customer information to hijack future sales, it says in a study.
In addition, Intellectual property (IP) such as production methods, mineral processing methods, chemical formulae and custom software is a lucrative target for cyber criminals.
"The theft of IP can drastically reduce the research and development costs associated with developing a new mine. IP theft is commonly done by foreign cyber espionage campaigns, which then transfer the knowledge to their local mining industry."
Today's cyber criminals are evolving not only in terms of their technical ability and sophistication. They increasingly understand the value of stolen sensitive data from all kinds of sectors through monetising it and influencing business dynamics, says Trend Micro.
According to blog BatBlue, the mining sector continues to fall victim to major cyber attacks by attackers who are motivated by the geopolitical landscape or financial gains.
The attackers target the sector to obtain information on state-operated companies or steal intellectual property, it adds.
The most common attack route by which companies get infiltrated is via targeted attacks - which will help the criminals to enter into the organisation's network, says Trend Micro.
The data stolen from commercial espionage campaigns can have devastating effects on the targeted firm's operations, finances and market standing, as well as detrimental consequences on the host country's economy.
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