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FUV vs RIDM friends or foes at CIMBC22

FUV vs RIDM friends or foes at CIMBC22 sounds like a riddle, right? But it is not! Please, note FUV was actually never written as an acronym. Actually FUV stands for firmitas, utilitas, et venustas in Latin language.  Today we freely translate the terms into English as reliability, serviceability and beauty, straying a tad away from the original meaning. However, Henry Wotton, a seventeenth century translator, coined “firmness, commodity, and delight” as essential components of all successful architectural design. Wotton remained faithful…

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The five laws of stupidity and risk management

The five laws of stupidity and risk management are deeply interconnected. As a matter of fact, stupidity is often the root cause of many accidents, in any industry or human endeavor. Haven’t we all heard phrases like: “… it was a stupid accident”, “it was a stupid mistake…”? Like usual, we will ensure that the glossary is crystal clear before we discuss the subject. And like usual, you will see that a clear glossary is absolutely vital. The classic definition…

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Recent failure at Pau Branco Mine, MG, Brazil

The recent failure at Pau Branco Mine, MG, Brazil is a classic example of cascading events. At this Vallourec Mineração (VMN) iron ore mine the failure of an uphill structure/slope led to overtopping of a downstream retention structure. As a result a flood reached a highway and the environment. Photograph provided by: Adolfo Tribst Corrêa A bit of Pau Branco innovation history Back in 2015 this mine was touted as a technological success when a new filter press module was installed.…

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What lies ahead?

What lies ahead? Well, first of all we wish all the serene and fruitful 2022 we all deserve despite the uncertainties looming. Of course our thoughts go to those who in 2021 endured hardship both physical, mental and economic. May the future bring to you and your Families some solace. In these troubled times we keep a very high level of alert with respect to the global sanitary and geopolitical situation to steer toward safety. The situation is to say…

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Business interruption risk profiles

Riskope’s ORE deployments generally include quantitative convergent business interruption risk profiles. These are based on “as usual” and, very importantly, on divergent scenarios. They allow for tactical and strategic corporate planning while facing, for example, climatic uncertainties. It is not rare to see a client smile at our scenarios descriptions. In particular, when they include hazards that may be interpreted as “far fetched”. Indeed, the dominos effects that intervene in those cases, due to the interdependencies within the considered system…

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Pit failure at Codelco Ministro Hayes in Chile

We read about the recent pit failure at Codelco Ministro Hayes in Chile. We have also read that there will be no impact on the mining operations in this particular case but that is not significant in today’s proposed discussion. This failure is particularly interesting for Riskope as we recently performed a ORE2_Slopes quantitative risk assessment on a large open pit mine in Austral Africa. For a change the client mining company and the mine location are confidential. By the way,…

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ORE2 tailings conclusions

This series of eight blogposts is a summary of what a standard ORE2_Tailings™ quantitative risk assessment deployment report includes. Indeed, the ultimate goal of the report is Risk-Informed Decision-Making (RIDM) support for the owner and the EoR. As a matter of fact the methodology is compatible with ISO 31000 and of course ICMM GISTM. The ORE2_Tailings™ deployment uses archival documents supplied by the client for each Tailings Storage Facility (TSF) and finally related dams and written Q/A sessions The report…

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ORE2 tailings tactical and strategic

As stated earlier ORE2_Tailings™ allows to define in a clear, transparent, and reproducible way which risks are tolerable or intolerable. Among the intolerable risks ORE2_Tailings™ allows to define which risks are tactical and which ones are strategic. We discussed tactical and strategic planning for dam portfolio using ORE2_Tailings™  in https://www.riskope.com/2021/06/30/tactical-and-strategic-planning-for-dam-portfolio-using-ore2_tailings/.  In our reports we show that risks of the considered portfolio belong to a three families as follows: tolerable, meaning they are below the risk tolerance of the client. These…

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