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By D Cliff

"Recent underground coal mine incidents have again raised the issue of: under what circumstanceis it safe for personnel to re-enter the mine? Mine rescue guidelines make recommendations aboutthe limits in terms of the circumstances, lives at risk, no lives at risk and training exercises. Theseare based upon percentages of the upper and lower explosive limits. Many factors infl uencesett ing limits for safe re-entry. These include: the representativeness of the sampling location(s),the rapidity of gett ing an underground sample analysed and the rate of change of the atmospherebeing monitored. Value judgements based upon these parameters will then infl uence the sett ing ofa trigger point based upon per cent explosibility. This raises the question of how the percentage ofthe lower or upper explosive limit is established. It is easy to defi ne this when the sampling pointdata sit on the fresh air limit line. However - what value is used when the sample sits somewherein the body of an explosibility diagram? This paper explores the various options and illustratesvarious pitfalls and problems that are faced in making such a determination. These include howthe data are represented and the assumed knowledge of those doing the interpretation."

Jun 1, 2012

By Mohammad. M. Khajeh

Rock mechanical properties are important parameters in geomechanical simulation. Considering stochastic heterogeneous models rather than conventional homogeneous layer cake models leads to more realistic simulation results and uncertainty assessment. These heterogeneous models are usually fine scale models generated by geostatistical techniques. Although considering high resolution property models is desirable, geomechanical simulation with a fine scale model is not computationally feasible for full?field, coupled geomechanical-flow simulation. Upscaling of property models is necessary to move from fine scale/high resolution property models to coarser scale/low resolution models appropriate for simulation. Local numerical upscaling was proposed by Khajeh et al. (2012) to describe the macroscopic elastic behavior of complex heterogeneous media and is expanded upon in this work. This numerical technique is not restricted to specific geologies as typical analytical techniques are. Moreover, transversely isotropic deformation is considered rather than the usual assumption of isotropic deformation. To compare the accuracy of the upscaling methodology, in this study shear strain is considered as the geomechanical response of a synthetic facies model and the response of the coarse scale model is compared to other conventional analytical averaging techniques. It is found that the numerical upscaling technique better approximates the geomechanical response of the fine scale model.

Jun 1, 2012

By A. K. Alzo?ubi

Block toppling in natural rock slopes has been under investigation since the 1970?s. De Freitas and Watters (1973) introduced the term ?toppling? to describe the movements of rock slopes by rotation in steeply dipping beds. The Lornex pit case history from British Columbia (Canada) was chosen to study the effect of mining on the stability of toppling rock slopes. A discrete element approach that allows fracturing of intact material was applied successfully to model the composite rock slide-rock topple movement. Three main movement modes were observed in the field and the numerical model; the sliding of the top of the slope exposed normal scarps, the toppling at the middle part of the slope exposed obsequent scarps facing opposite to the slope face, and dilation of the rock caused by fracturing at the toe formed loose material. The development of the rupture surface at the toe of the slope was traced and did not evolve into a continuous rupture surface throughout the slope both in the field and the numerical simulation. Good agreement was achieved between the deformations recorded in the field and the numerical simulation.

Jun 1, 2012

By Allan R. Punkkinen

Safe extraction of the valued ore resource in the deep levels of VALE Creighton Mine has progressed in a pillar-less fashion using vertical retreat, slot-slash and uppers retreat methods since the cessation of ?cut and fill? mining in the late 1980?s. Sequencing of the panel extraction and filling has been the key to successful exploitation of high stress orebodies at depth. In late 2010, discussions between the Operating Department and Creighton Ground Control revealed an opportunity to evaluate a trial primarysecondary sequence in the west end of the 400 Orebody at the 2340m horizon. To manage the trial primarysecondary project, a high level risk analysis and management of change was carried out to mitigate potential danger. As part of the requirements, an instrumentation project was conducted in the hanging wall and footwall bottomsills of the secondary panel and within the secondary panel itself. The extraction sequence was modeled with Map3D® software, confirming high stress levels with the advance of the primary panel. Enhanced ground support was installed based on modelling results. A key objective of the instrumentation project was to verify support system response to mining and to obtain knowledge in regards to the behavior of the stope. This paper describes the first time that this type of new innovative instrumented rockbolt technology had been used in a hard rock mining environment. Understanding of the physical deformation mechanisms of ground support in response to high stress conditions is the basis for an effective ground control strategy. The data played an important role in subsequent enhanced ground support system design at the mine and importantly, established the fact that the secondary pillar had not totally failed. Subsequent cavity monitor results helped establish that fact.

Jun 1, 2012

By Cheowchan Leelasukseree

Mae Moh mine, operated by Electricity Generation Authority of Thailand (EGAT), is the largest open pit mine in Southeast Asia. Its production is approximately 15 million lignite tons and 90 million m3 of waste, annually. The bottom of the final pit limit is designed to be approximately 500 m in depth. Presently, the pit depth is almost 250 m below original surface. The complexity of geological structures, such as faults, has caused a number of geotechnical difficulties. In a challenging lowwall area, called Area 4.1, an inclined weak bedding plane, G1, will be daylighted along the lowwall as following by mine plans. The dimensions of Area 4.1 are nearly 300 m wide and 90 m high. The friction and dip angles of the G1 interface are reportedly 12° and 15°, respectively. A three million m3 claystone block, resting above G1, would potentially slide down, and possibly cause a massive failure. EGAT engineers are acutely aware of the potential gigantic sliding failure and are modifying the mine plan in Area 4.1 to improve mine safety and minimize the displacement of the potential sliding block, reduce the possibility of failure and lower the additional mining cost as much as possible. The cut and fill mining technique was selected and studied to achieve those goals for mining in Area 4.1. With this mining technique, G1 will be partially daylighted. Therefore, an arch formation is induced with a sliding block above the mining area, which could perform as a temporary support undercutting a certain span. Initial studies of the behavior of the partially undercut slope are presented in this paper, along with a review of the similar failure history in Mae Moh mine and a 3-dimensional numerical model of the mine. The failure history review provides an estimation of undercut span without failure. The three-dimensional numerical model results, using 3DEC, gave an initial approximation of the displacement of the sliding block in Area 4.1. The next exciting study of the behavior of partially undercut slope is a trial undercut slope field experiment in Area 4.1. Currently, a trial undercut slope field experiment in Area 4.1 is under construction. In the field experiment, a number of monitoring programs will be installed in Area 4.1 to monitor and obtain information to allow a better understanding of the behavior.

Jun 1, 2012

By Melanie Grob

Two commonly estimated fractal dimensions, called b and D values, represent statistical characteristics in the distribution of magnitude sizes (b) and spatial hypocenter locations (D) of microseismic events, respectively. We postulate that the values of b and D are related to specific stress regimes. Through different case studies of fluid injection into an oil/gas reservoir or geothermal field, we infer that the measured temporal variation in fractal dimension b is most likely due to significant changes in the local stress regime. The fracture dimension D indicates the spatial clustering of events. The distribution of these events can vary with time because of stress perturbations that (re)activate fractures whose direction favours their movement under a specific stress regime. Thus a combined statistical study of these two dimensions can help infer the variations of local stresses in a reservoir.

Jun 1, 2012

By Jaime Meléndez Martínez

Recent interest in unconventional reservoirs motivates our work in laboratory measurements of seismic anisotropy. Seismic anisotropy is the variation in speed of a wave as a function of its direction of propagation. Analyzing anisotropy in unconventional reservoirs is important since anisotropy leads, for example, to differential stresses upon loading and could affect hydraulic stimulation (Reinicke et al., 2010, Zimmermann and Reinicke, 2009); in this sense, laboratory measurements are an important tool to study seismic anisotropy at small scales which can aid in the characterization of larger formations. The purpose of this work is to describe the laboratory methodology used to simultaneously measure ultrasonic P and S-waves in three different directions from a single core sample. Elastic anisotropy of a Proterozoic sedimentary rock from south-west Alberta is investigated. In metamorphic rocks seismic anisotropy is caused by preferred mineralogical alignment or foliation. Assuming a transversally isotropic medium, arrays of compressional and shear piezoelectric ceramic transducers were mounted on a sample trimmed from a core to measure travel times of ultrasonic P-waves and S-waves as a function of confining pressure at directions perpendicular, parallel, and oblique to the plane of foliation (bedding). Results show strong anisotropy agreeing with the assumption of a transversely isotropic medium. Dependence of travel times and hysteresis effects can be observed when pressurizing and depressurizing.

Jun 1, 2012

By Jean-François Dorion

In an underground mine rock reinforcement elements and surface support units are often exposed to conditions that make them susceptible to corrosion. These unfavourable conditions include high relative humidity, the presence of dust and various other particles in the atmosphere, splashing of water and gases from blasting and diesel equipment. The corrosion of support systems is often associated with a loss in capacity that can be a major safety and economic concern in underground mines. A support system is composed of several components such as bolts, mesh, plate, retaining nut, cable ties. Every individual component can deteriorate due to atmospheric or aqueous corrosion and consequently can damage the integrity of the support system. This paper reports the results of a 5-yr study on the loss in capacity of individual support and reinforcement components at selected underground hard rock mines. As part of this investigation corrosion coupons were installed at selected locations at participating mines. A number of these coupons were recovered at regular time intervals and analysed for any signs of corrosion and subsequently tested to quantify any loss in capacity. The testing of the corrosion coupons was complemented by similar tests on recovered mesh and friction bolt specimens from the site. The collected data have provided useful insights on the factors that contribute to the corrosion of support systems. This knowledge can aid in the selection of appropriate support strategies and a reliable assessment of the predicted useful life of a support system and the need for rehabilitation.

Jun 1, 2012

By Gregory C. More O'Ferrall

Generally pillars in the Southern African hard rock tabular underground mining environment are designed using either empirical pillar design formulae or numerical modelling (analytical) methods utilizing the Hoek-Brown failure criterion. However, none of the pillar design methodologies employed takes cognizance of weak layers either within the pillar material or in the immediate foundation of the pillar. Over the past few years, the presence of a weak layer either within the pillar material or within the immediate foundation of the pillar has resulted in the closure of one platinum mine (Everest Mine), closure of one chrome mine (Wonderkop Chrome) and large-scale instability in a couple of chrome and platinum mines in South Africa and Zimbabwe. A study has been initiated to better understand the failure mode and strengths of the pillars where pillar failure associated with weak layers occurred. Owing to the infancy of the study into the failed pillar strength and failure mechanism, the purpose of this paper is to highlight the circumstances that led to the collapse of mining sections and a shaft, and the difficulty associated with designing pillars in the Southern African chrome and platinum mining operations.

Jun 1, 2012

By B Belle

"Mines around the world are inherently and operationally diverse. Current methodologies for the design of mine ventilation and cooling infrastructure involve controlling major safety and health hazards. Globally, it can be estimated that mine ventilation systems from various commoditiescirculate over 150 000 m3/s of exhaust air through shafts. Additionally, over 2 000 000 workersare transported every day through shafts in labour-intensive mining countries like China, India,Southern Africa, and the Americas. A key objective of this paper is to share experiences and provide a case for the revision of ætime-honouredÆ ventilation design parameters based on a benchmarking exercise on design exhaust shaft velocity from various global operations (gold, diamond, platinum, coal and base metals). An active fi eld observation on exhaust shaft velocity has indicated that, regardless of the commodity or continent where the mine operates, almost all life-of-mine (LOM) design parameters provided are in the same range of 20 m/s to 22 m/s, which is not convincing considering signifi cant variations exist in shaft depths, geography, commodity, operating and capital costs. From a due diligence perspective, there are no documented views that are available on the most widely used design exhaust air velocity. Based on the global exhaust shaft velocity data, it is noted that a significant portion of shaft velocities are outside the current design velocity of 20 m/s (some operating up to 30 m/s) and other signifi cant portions of the exhaust shafts operate in the critical velocity range. In the case of Australian coal mines, limited data suggests that none of the mines have ever reached the LOM design exhaust shaft velocity. It is self-evident that when the shafts are not operating at their design quantities either the mine system resistance is low or the ventilation and main fan is operating ineffi ciently. The most common reasons given for not reviewing the shaft system were, ætime-honouredÆ design parameter are being used and cannot be changed, mine fan pressure limits, possible fan blade damage, possible spontaneous combustion risks, leakage or simply did not consider such a possibility. In conclusion, the study has reiterated the historic lessons that a safe and expensive airway should not be utilised uneconomically by circulating too litt le air through it."

Jun 1, 2012

By B Maybee

In underground mine planning, many potentially value-eroding decisions are made due to a lack of time and proper evaluation practices. The information required for mine planning decisions goes beyond external sources of uncertainty that are recognised by typical evaluation techniques used in the mining industry, to include technical factors (eg mine development layout) and the ability of a mineral extraction project to achieve its anticipated production levels. Due to the individual characteristics that define underground mining projects, each will exhibit a different risk profile, and thus advanced optimisation and evaluation techniques are required to capture this information.As underground mine planning tools become more sophisticated, mine planners have the capacity to investigate numerous mine sequencing options to identify the best strategy for a given project, creating higher value for shareholders. This paper describes a risk-based evaluation methodology (RbEM) that accounts for financial and technical risk in the evaluation of underground mining projects. While the use of the RbEM has been described in previous works, no benchmarking of the benefits that can be realised from a change in those decisions that are made early in the process has been undertaken. To show the benefits that can be achieved from using the RbEM, this paper updates a case study to which the RbEM was applied, and takes a retrospective look at whether additional value would have been gained by following the strategic recommendation of the RbEM versus a typical optimisation exercise that aims to maximise the net present value.CITATION:Maybee, B, 2012. Can a risk-based evaluation provide a more valuable mine design?, in Proceedings Project Evaluation 2012 , pp 53-58 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By P Guj, J A. Bell

The valuation of early-stage exploration projects requires a valuer to take into account a large number of uncertain value drivers, the interplay among which may be non-linear. This paper examines some of the key value drivers including geology, target metrics, project area and maturity, the market and the psychology behind the decision-making process. The commonly accepted valuation methods and their underlying logic are outlined, including a view on why they evolved, what value drivers they attempt to address and their potential shortcomings. These methods include the multiple of exploration expenditure, geoscience rating, expected values and market based methods. The potential future valuation methods of replacement values and neural networks are also introduced along with how to minimise heuristic bias and error within the market-based approach.CITATION:Bell, J A and Guj, P, 2012. Exploration value drivers and methodologies, in Proceedings Project Evaluation 2012 , pp 17-28 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By L Lorenzen, H Muller

"Every year a large number of projects are evaluated by small listed and unlisted mining companies that are hoping to find the ideal project, which will catapult them from a mining junior status to that of a mid-tier mining company. Usually this includes finding the æidealÆ or ærightÆ orebody and then developing a process which will allow cost-effective recovery of the valuable metals and the production of a saleable product. These dreams are seldom realised and there are a number of good and obvious reasons for this. Issues that are generally high up on the agenda for the smaller companies are: cost of developing a project before the feasibility study stage finding a suitable, or optimum processing technology financing of the project dealing with risk.The most expensive part of the development process for the small miner is often the exploration side of the business and finding the æidealÆ orebody. However, finding the right orebody will not be discussed in this paper. The æidealÆ orebody does not necessarily solve the problems of the mining junior, as much of the uncertainty lies in the process required to recover and produce the final metal product. Once a mineralised deposit has been identified and the grade at least reasonably qualified, the development of a suitable process becomes the driver to convert the deposit into an orebody. This paper proposes that a small exploration company has a very limited opportunity to succeed if it does not do sufficient homework before it identifies the æidealÆ orebody. The risk profile for the small mining company, by its very nature, has to be different to that of a major company and as a result the opportunities often lie in managing different and often new process options, which may be the key to bring such projects on line successfully.CITATION:Muller, H and Lorenzen, L, 2012. Project selection and process development for mining juniors, in Proceedings Project Evaluation 2012, pp 149-158 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

May 24, 2012

By B Maybee, L Fava, D Millar

In the context of a case study for an underground gold mine, the value generated by a schedule optimisation tool (SOT) is assessed. SOT is a software tool for underground mine planning that maximises the net present value (NPV) of a development and production schedule. A baseline study measures the NPV of a schedule generated by SOT from a sequence prepared by the site mine planners. Operational resource constraints and precedence constraints are adhered to by the schedule and NPV is evaluated with a financial model including revenues, costs and discount rate, as specified by the mine planner.The case study has several facets in addition to the baselining component. Scenarios were conducted that examined the degree of constraint on operational resources, the projected gold price and unit costs. Life-of-mine schedules subject to optimisation using SOT allowed for equitable comparisons.Haulage was identified as a dominant constraint for the mine. It was one of six operational resources that were used to constrain the optimisation of the mine schedule, with alternative levels for some of these constraints being identified so that their effects on the NPV could be studied. Alternative price projections for gold and different cost projections were identified and their effects on the optimised schedule examined. Price and cost scenarios that brought additional economic material into the schedule at various times in the mine life were considered in comparison to a scenario that assumed no additional economic material would become available.This case study illustrated that the use of a schedule optimisation tool to optimise mine schedules provides mine planners with an ability to perform a wide variety of analyses in a relatively short period of time. Such tools thereby support strategic decision-making that can add significant value to an orebody.The case study demonstrates that by fixing the set of development and production activities to be carried out before optimising the life-of-mine schedule, the mine planners can inadvertently set up a situation where the NPV would be progressively eroded in the last several years of the mine life. This clearly illustrates the need for schedule optimisation to be integrated with life-of-mine planning.CITATION:Fava, L, Maybee, B and Millar, D, 2012. Decision support for an underground gold mining operation - A case study using the schedule optimisation tool, in Proceedings Project Evaluation 2012 , pp 41-48 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By P Myers, T Elkington, S Wonday

Sierra Rutile LimitedÆs (SRL) heavy mineral sand mining operation in Sierra Leone, West Africa, is embarking on a new phase of its life. After confronting many challenges during the 1990s and 2000s, SRL is embarking on a strategy of growth to recover maximum value from the mine over the rest of its life. Sophisticated linear programming techniques have been used to develop an optimum strategy for extracting SRLÆs many known deposits of economic grade, while considering options for expansion and for a variety of mining and processing methods and combinations. CITATION:Myers, P, Elkington, T and Wonday, S, 2012. Strategic optimisation at Sierra Rutile - A case study in maximising project value, in Proceedings Project Evaluation 2012 , pp 59-66 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By S Watson, L Martinez

Mine projects are complex opportunities that demand a constant assessment of uncertainty, ie risk and upside potential. This is because the value of a mine project is typically influenced by many underlying economic and physical uncertainties, such as metal/mineral prices, metal/mineral grades, costs, schedules, quantities, and environmental issues, amongst others, which are not known with much certainty at the beginning of the project. But, is uncertainty an enemy or an ally of the mine planner/analyst? To answer this question, this paper first assesses and elaborates upon the general concept of uncertainty. It then looks at the different sources of uncertainty in a mining project, such as the orebody, costs and product price uncertainties, and their effect on the final project value. Next, a general?review?of current mine evaluation techniques highlighting their limitations when dealing with uncertainty is made. Finally, an extended evaluation and risk management framework that addresses the existing uncertainty in the (greenfield/brownfield) mine evaluation process is proposed. One important characteristic of this framework is that it uses and manages uncertainty in order to generate additional value to the project; this is done through operational and managerial flexibility, which allow mine planners to minimise/maximise project risk/upside-potential giving a more realistic estimate of the projectÆs market value - this is shown in practical and simple examples occurring at different stages of a mine project, such as exploration and operation. Final conclusions are provided at the end.CITATION:Martinez, L and Watson, S, 2012. Uncertainty - An important source of (additional) value for mine projects, in Proceedings Project Evaluation 2012 , pp 131-140 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By W B. Edgar, S C. Dominy

High-nugget effect vein-gold systems are generally considered to be one of the most challenging of deposit types to evaluate and exploit. To potential investors and mining companies, they are viewed as high risk because of the associated uncertainties in the grade estimate and general paucity of Ore Reserves at production start-up. However, despite the well-known risks, these deposits often have a grade upside that makes them potentially attractive. The reporting of resource grade is of importance and perhaps even more so is the reporting of the associated uncertainty attached to the grade estimate. The use of the grade estimate supported by a grade range is recommended to achieve more complete and useful disclosure. The definition of the grade range can be somewhat subjective, ranging from opinion based estimates through to data-based estimates and geostatistical conditional simulation. Whichever method used, the over-riding issue must be the provision of enough data of appropriate quality and full disclosure to the public of relevant uncertainties.CITATION:Dominy, S C and Edgar, W B, 2012. Approaches to reporting grade uncertainty in high-nugget gold vein projects, in Proceedings Project Evaluation 2012 , pp 95-108 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By A Chandra, P Guj

Only a few complex real options can be valued using closed-form equations, such as the Black and Scholes formula, because these algorithms are restrictive and prevent the construction of practical project evaluation models. Although a binomial lattice method paired with the ærisk-neutral probabilityÆ provides an easier and flexible modelling of exploration and mining projects, it has limitations when projects are complex, long-lived and influenced by the interplay of various market and private uncertainties. In order to overcome these limitations, modern decision tree software using dynamic programming capability can be used for real option valuations. This is a powerful computational tool in which the impact of various sources of uncertainties can be differentiated, so that the optimal decision path can be explicitly displayed visually. There has been significant academic controversy surrounding whether different real option (RO) valuation methods would lead to different real option values (ROV). This paper, using a realistic copper mining example, demonstrates that as long as the same degree of subjectivity and consistency are used in different real option valuation methods, they yield the same result. This conclusion is valid irrespective of whether the cash flow volatility generated by various sources of uncertainties is handled in an aggregated or in an explicit and differentiated manner. This paper compares two choices for an investor either to æbuy now and developÆ a project or to enter into a ætwo-year option to purchaseÆ after the proponents have developed it. It also shows how significantly different net after-tax operating cash flows may be generated by these different choices on the same underlying asset represented by the project. This is due to the difference in the amount and timing of the relevant capital investments affecting the depreciation and amortisation charges and as a consequence, the income tax paid. CITATION:Guj, P and Chandra, A, 2012. Real option valuation of mineral exploration/mining projects using decision trees - Differentiating market risk from private risk, in Proceedings Project Evaluation 2012 , pp 177-188 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

By G K. Robinson

Variations in many aspects of physical and chemical grade are often of concern to mining operations and mineral processing plants. In most circumstances these amounts of variation are predictable. At the time of planning new operations, we should be able to predict the amount of sampling and testing variation which our sampling devices, laboratory procedures and on-stream analysis devices will achieve. We should know how well our stockpiles, reclaimers and bins will homogenise material (or whether segregation will actually increase the amount of variation). We should be able to predict the amounts of variation that will occur on the important time or tonnage scales at the crucial p oints in our proposed operation. And once these amounts of variation are reliably known, mine planning will seem a little bit more like dealing with known knowns rather than like dealing with unknown unknowns.The first step towards quantifying amounts of variation for planned operations is to assess amounts of variation for existing operations. How many operations have estimates of amounts of variation in their databases? How often are people able to partition amounts of variation into amounts due to sampling error, amounts due to sample preparation, amounts due to assaying, and the amount of real variation in the stream of material?CITATION:Robinson, G K, 2012. Making sure that the amount of grade variation is a known known, in Proceedings Project Evaluation 2012 , pp 159-162 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012

Risk management has become an essential tool for mining companies to ensure their projects are well-managed and profit expectations are achieved. Risk management has also become a mandatory corporate governance requirement in Australia for publicly listed companies and equally important to attract investors. This paper provides a brief overview of the essential tools needed to implement a practical risk management framework to comply with the internationally recognised ISO 31000:2009 risk management-principles and guidelines from the perspective of small or soon to be producing mining companies. To?successfully?deal with the unknown and to manage the opportunities and risks involved with a mining project requires a clear understanding of the basic risk management principles. These include how to develop a project risk register, how to develop a project risk treatment plan and how to manage and monitor project risks to take full advantage of the opportunities presented.The first step is to identify and fully appreciate the risks that face a mining project. There are many risk identification methods that can be used including checklists, brainstorming and hazard and operability (HAZOP) studies. These often lead to a telephone book full of risks which are near to impossible to manage. A risk library specifically designed?for mining?projects containing no more than 100 risks will cover the major showstoppers, is practical and can be readily implemented and successfully managed.A risk framework also needs to be established which is compatible with the companyÆs structure and objectives. Once each risk has been assessed in regard to consequence and likelihood and the risk control systems are in place they need to be assigned to the responsible manager. The extreme or high risks will require a risk treatment plan to be developed. Risks will change during the life cycle of a mining project. Hence, a reliable monitoring system is also required for compliance.CITATION:Jones, J A, 2012. Mine project risk management, in Proceedings Project Evaluation 2012 , pp 117-122 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 24, 2012