Quantifying Tailings Dam Risks at Mining Insurance & Risk Association

Quantifying Tailings Dam Risks at Mining Insurance & Risk Association

Jun 11th, 2020

Date/Time
Date(s) - 11/06/2020
8:00 am - 9:00 am

Categories


On June 11th there will be a online event entitled Quantifying Tailings Dam Risks at Mining Insurance & Risk Association (MIRA). The talk presents a comprehensive approach to address how to quantify and prioritize tailings dam risks, especially in the context of large dams inventories.

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Quantifying Tailings Dam Risks at Mining Insurance & Risk Association

Generic technical literature on quantitative risk assessment for dams and levees exists starting with the US Corps of Engineers all the way to space applications at NASA. However, due to apparently excessive complication, the mining industry has been reticent to introduce quantitative risk assessment for tailings dams.  Today, ORE2_Tailings™ makes quantitative risk assessment accessible to mining companies in a sustainable and specific way. That is especially useful when large inventories (portfolios) are present and require sensible prioritization.

Recent reports document the scope of the challenge, like, for example:

In this context, the application of cutting-edge risk-assessment methodologies and risk-management practices can contribute to a significant reduction and virtual elimination of dam failures. The discussion focuses on identifying and describing the risk-assessment approaches and risk-management practices allowing to:

  • develop a reasonable way forward,
  • achieve sustainable socially and corporately acceptable levels of tailings dams’ risks and finally
  • enhance value by applying Risk Informed Decision Making

We will discuss the following topics:

  • Appropriate selection of operable KPIs.
  • Probabilistic approaches looking at the dam system and not “just the dam”.
  • Avoidance of Failure Mode-driven reality censoring (human factors and arbitrary credibility).
  • Avoidance of hasty shortcuts (e.g. using consequences only rating) and their misleading effects.

Quantifying Tailings Dam Risks at Mining Insurance & Risk Association

To register your interest please email james.fryer@cnahardy.com. There will be opportunity to present questions during the webinar session. Please feel free to send through any questions in advance. We look forward to welcoming as many of you as possible.

Category: Risk Analysis, Risk Management

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