RISK BASED DECISION MAKING IN MINING

by Dr. Franco Oboni

03 – 04 April 2008 Vancouver Canada

Course Presenters Schedule General information

Summary

This course presents Quantitative Risk Assessment and Risk-Based Decision Making as practical tools that should be applied to daily business decisions at any level of a corporation, organization and institution. Their positive impact on the sustainability and profitability of mining and other projects is demonstrated by examples and case studies.

Risk management should be seen as an investment to generate positive outcomes, instead of an auditing or compliance nuisance, or a resort of nervous management.

The course deals with the mindset change required to go from downside risk management, i.e. an investment to manage future possible losses, to an active corporate development tool. Such integration allows for better decisions which blend upside risks (profits, gains, advantages) with downside risks (possible hazards on the road).

The course will demonstrate how risk assessment adds value to mining projects and, in particular, how a proactive use of risk assessment contributes to responsible practice and environmental integrity yielding optimized positive results for the industry and society at large. Examples of how these principles have been applied to award winning projects in the mining world will be displayed. Interesting case studies will also be presented, including mountainous access roads to mines, working in former battle-field areas (contamination by war remnants), and performing regional scale risk assessments.

Background

Designs based on codes or recommendations may differ quite significantly from designs based on Risk Based Decision Making. Differences may go as deep as selecting different procedures, such as material hauling system, or drainage patterns. Alternatives which are perfectly code-compliant and require similar investments and maintenance may expose owners to significantly different levels of risk throughout the expected life of a project.

Risk Based Decision Making for reclamation projects requires robust and simple tools for choosing among alternatives at each and every step of a project life, from conceptual design, construction and maintenance and through performance monitoring and evaluations before reaching the expected life end.

The course is organised by Oboni Riskope Associates (Lausanne, Switzerland) and EduMine, the Professional Development Division of InfoMine Inc. (Vancouver, Canada).

Pre-Course e-Learning

Prior to the course, registered delegates are provided with an internet url, user name and password. This enables them to access online e-learning material from EduMine EduMine titled "An Introduction to Risk Assessment and Crisis Management for Mining Professionals" authored by Franco Oboni. This course provides delegates with important background material which increases their understanding and appreciation of the classroom course. Review of this material prior to the course, including completion of the interactive reviews, enables delegates to derive maximum benefit from the live sessions.

UBC Certificate in Mining Studies

This course qualifies for the UBC Certificate in Mining Studies, a continuing education initiative by the Norman B. Keevil Institute of Mining at the University of British Columbia. Delegates who (1) register for the Certificate in Mining Studies, (2) complete online certification in the required EduMine e-learning modules, (3) attend this course, and (4) complete a take-away project will receive credit towards a Mining Certificate from UBC Continuing Studies. more details »

Who Should Attend?

The course will be of particular interest to mining project managers, planning engineers, regulators, bankers, insurers and other mining specialists.