Environmental And Economic Risk Assessment/Management In Mine Development

A formal and explicit yet cost-effective approach is proposed to ensure that decisions made during mine development are optimum (with respect to their ultimate consequences) as well as defensible. This risk management approach is based on probabilistic risk assessment and established decision analysis techniques, and appropriately considers the relationships among various mine development decisions, tradeoffs among consequences, the uncertainty in predicting consequences, and the benefits of flexibility to respond to changed conditions.