Risk Management Action

Two examples of risk assessment and risk management in action are discussed. The first is in a management context in relation to Kingsgate Consolidated LtdÆs Chatree operation in Thailand. Kingsgate has conducted an over-riding risk management program to assess and manage risk across its complete business from the Sydney and Bangkok offices through to the Chatree Mine and the companyÆs exploration group. This example addresses how Kingsgate has applied risk management, particularly to the process operation, and the benefits that have been gained. The second is in an operational context in relation to Minara Resources LtdÆs Murrin Murrin operation in Western Australia. The subject is the methodology and outcomes of a risk assessment across the Murrin Murrin operation specifically to identify and assess risks with potential impacts from $1 M to $7 M. This section of the paper then shows how the outcomes of the risk assessment were integrated into MinaraÆs strategic plan to debottleneck the plant and increase nickel production.