This paper explores the use of a Process Safety Management (PSM) system to manage risk in the mineral processing and metallurgical refining industries. Important elements of a PSM system are described. International regulations and non-regulatory guidelines covering PSM for high hazard industries are reviewed. Case studies of incidents in the mineral processing and metallurgical refining industries are presented to understand the lessons learned from failure to manage risks using a PSM system. Conclusions are drawn to adopt PSM in the minerals and metals processing industry as a tool for loss prevention and risk management.