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Leadership boosting competitiveness with data driven decision making

Leadership boosting competitiveness with data driven decision making occurs when risk assessment databases, risk data are well structured and ready to advanced analyses. It is then possible to carry out risk triage, bundling and develop mitigation road-maps. We have discussed at length in earlier blogposts the steps necessary to develop a quantitative, convergent, updatable risk assessment. How to start risk triage, bundling and develop mitigation road-maps To perform a solid quantitative risk assessment you should have in your hand: a)…

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How to bounce back from the Responsible Mining Foundation grim report with sustainable actions

How to bounce back from the Responsible Mining Foundation grim report with sustainable actions is a response to their statement: “Too often, workers, mining-affected communities, governments and investors are kept in the dark about the risks involved and how well companies are addressing these risks. Companies may be reticent to publicly reveal this potentially detrimental and sensitive information, yet it is workers and communities whose lives and livelihoods depend on adequate protection measures being in place”. Mining needs methodologies for…

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Information systems and risk management

Information systems and risk management discusses the necessity to create a structured and holistic view on all corporate information. Therefore we look at and how the holistic view should relate to upside and downside risks. Information systems are the set of analytical applications geared toward preparing corporate or project system’s data for business analyses and support to risk informed decision making. Downside risk is the product of the probability of occurrence of a hazard by the cost of the undesirable…

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Cryptominers exploit miners vulnerabilities

Miners are under a new attack as Cryptominers exploit miners vulnerabilities. Programs that hijack computer resources to mine cryptocurrencies without permission are indeed a new threat in the list. In summary, the “old list” for miners reportedly encompassed for example: Ransomware, which holds a company’s data hostage until a ransom is paid. data leaks. worms that could break down equipement “a la” stuxnet focussing on the SCADA system. However, the real-life general list is way longer, as witnessed by a…

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Risk assessment, Social License to Operate and Corporate Social Responsibility

At Riskope we champion the idea that Risk assessment, Social License to Operate (SLO) and Corporate Social Responsibility (CSR) are strongly intertwined. It is part of our silo-breaking philosophy. Riskope’s builds risk assessments considering multidimensional consequences. These include “people” consequences, such as loss of quality of life. At the end of the day SLO and CSR are supported by enhanced transparency, clearer vision and distance themselves from a mere PR act, as people will identify more with the prospective realities.…

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Tailings dams quantitative risk assessment

Tailings dams quantitative risk assessment has to rely on proper evaluation of consequences and probabilities. The goal is to be able to economically and swiftly prioritize a portfolio of dams. That is in order to develop risk informed decision making for mitigation as also discussed in a recent blogpost. ORE2_Tailings app to evaluate probabilities ORE2_Tailings app is primarily addressing the needs of owners or regulators of dam portfolios. A dam portfolio may cover several extractive centers, several mining companies with…

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Risk analysis of dam break

Last week we focused on technical aspects of the Risk analysis of dam break. This week we go further by looking at societal tolerance and approaches. These may integrate ethical and economical approaches to these studies. Probability of failure and bench-marking of the case history dam A recent study of a tailings dam (centerline, rockfill, well investigated, built and monitored) using the ORE2_Tailings app delivered an estimate of the probability of failure. The result was pf in the 10-4 to…

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Consequences of tailings dams failures

Recent tailings disasters such as the failure of the Mount Polley and Samarco dams have focused the attention on the Consequences of tailings dams failures. Consequences of tailings dams failures: outflow volume and runout distance Classic approaches Various classic approaches (Rico et al., 2008, Azam & Li, 2010) assume that the volume of released tailings is a function of storage volume. Dam height intervenes, particularly for the runout distance preliminary evaluation. They find “statistical correlations” using a set of dam…

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