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Can we learn from our failures?

Today we explore under which conditions can we learn from our failures? In our society we oftentimes say that we benefit from failure, mostly in terms of lesson learned, allowing for better future decisions. System are continuously exposed to failure As Johnny Cash  stated : “You build on failure. You use it as a steppingstone. Close the door on the past. You don’t try to forget the mistakes, but you don’t dwell on it. You don’t let it have any…

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Risk-aversion and near misses in mining

A study in the Journal of Loss Prevention in the Process Industries explains the relationship between Risk-aversion and near misses in mining. According to a recent study there is a link between near misses and miners’ attitudes toward risky behavior. Frankly, this does not sound like a surprising statement at all. However the study from NIOSH develops a scientific understanding around the gut-feeling perception. Risk-aversion and near misses in mining study NIOSH surveyed more than 1,300 miners, a majority of whom…

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Real Estate Due Diligence vs. Risk Informed Decision Making

Real Estate Due Diligence vs. Risk Informed Decision Making stems out of reading a real estate deal due diligence guide by Jon Hegwood. The guide states that “the due diligence period is a formalized discovery window to confirm assumptions, identify potential hiccups, uncover unforeseen issues, and ultimately, determine the feasibility of a project. It’s the active mitigation of physical, financial and legal uncertainties”. Given that definition and our experience in large contracts, Mergers and Acquisition risk assessment it was inevitable that…

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Tailings Dam Management for the Twenty-First Century

Tailings Dam Management for the Twenty-First Century discusses a comprehensive approach to address the need to improve the: design of tailings dams, management and finally regulation of tailings management facilities. The aim is to explore what What Mining Companies Need to Know and Do to Thrive in Our Complex World. The book summary, ToC are available at https://www.springer.com/gp/book/9783030194468. Tailings Dam Management for the Twenty-First Century Tailings Dam Management for the Twenty-First Century discusses what the public seeks in terms of:…

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Responsible Mining and risks

Responsible Mining and risks is based on a recent article discussing Pebble Mine controversial project and in particular its Draft Environmental Impact Statement (DEIS).  The paper by NRDC Joel Reynold describes Pebble Mine as “Perhaps the most widely condemned development project anywhere”. It also explains that over the past eight years, four major global mining companies have abandoned the project. Namely: Mitsubishi Corporation in 2011, Anglo American in 2013, Rio Tinto in 2014, and finally First Quantum Minerals in 2018.…

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Cobriza, Peru tailings dam failure

Cobriza, Peru tailings dam failure occurred at Cobriza in Peru on July 10th   2019.  Cobriza is a copper mine. Reportedly “the concentrator was operated at a rate quite below its capacity due to lack of mine ore and lately (2016 and 2017) due to lack of capacity in the tailings dam“.  The plant is also subject to a highly controversial liquidation. Media invoke poor management as a cause of the failure. Google Earth image of the Cobriza mine tailings in Peru. The failed…

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Reporting climate risks

Reporting climate risks will become routine. Reporting climate risks means to publish what risks businesses face from climate change. Climate risk reporting may remain voluntary, an act linked to CSR (Corporate social responsibility) fostering SLO (Social License to Operate). However, the future may also go in the direction of compulsory reporting, perhaps as part of a document similar to NI43-101 or ad hoc documentation. Britain is the first G7 country to sign into law a requirement to reach net zero…

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Risk triage, bundling and mitigation roadmaps

Risk triage, bundling and mitigation roadmaps shows how to define strategic, tactical risk and develop an actionable risk integrated framework for projects, operations and corporations. The text constitutes Chapter 8 of the book Global Hot Spots, Caltrop Press. Its title is A Practical Integrated Risk Framework For Projects, Operations And Corporations.  Risk triage, bundling and mitigation roadmaps Readers go through a real-life case risk register. They read about a common practice risks assessment and triage (heat map, PIGs, etc.) and…

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