Convergent quantitative Entreprise Risk Management on Divergent Risks

Convergent quantitative Enterprise Risk Management on Divergent Risks is an extension of our recent discussion on business interruption risk profiles. The example we discuss is present in: our last book Convergent Leadership-Divergent Exposures Climate Change, Resilience, Vulnerabilities, and Ethics an article at CIM 2021 about Concentrate Transportation From Mine to Market is Critical to Mines’ Profitability Setting the scenario for Convergent quantitative Entreprise Risk Management on Divergent Risks Suppose a corporation owning and operating three chemical plants sends their products…

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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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Data required to run ORE2_Tailings

Now that the last eight blogposts (General ORE2 tailings workflow, ORE2 tailings technical explanations, first steps ORE2 tailings workflow , ORE2 tailings deployment steps , ORE2 tailings results, ORE2 tailings RIDM , ORE2 tailings tactical and strategic, ORE2 tailings conclusions) have shown the capabilities and results, let’s see the data required to run ORE2_Tailings quantitative risk assessments compliant with GISTM and ISO 31000. A few words on ORE2_Tailings™ methodology ORE2_Tailings™ is a subset of the “universal” ORE platform specific to Tailings…

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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 RIDM

We split this Chapter in two sections: section 10.1 discusses what actions one can take to enhance the knowledge base. These are obvious “simple” procedural mitigations. Thye lead to better understanding of the risks and/or to mitigate them. Section 10.2 shows how one can deploy ORE2_Tailings™ during the mitigation design process. That is in order to support decision-making. The goal is to define rational and sustainable risk mitigation programs. This process has to occur in parallel with the design by…

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ORE2 tailings results

We use archival information to formulate the ORE2_Tailings™ quality note and causality analysis. This includes site visits (when possible and if agreed), photographic historic documentation. Of course information will evolve in time, as new data may become available. Thus, one can use ORE2 tailings results to decide which aspects of the life of a considered structure to study. ORE2_Tailings™ results encompass various dam body’s probabilities. They correspond to the FoS yielded by available engineering analyses and the causality analysis. Here…

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first steps ORE2 tailings workflow

First steps ORE2 tailings workflow: 2 – ARCHIVAL DOCUMENT SEARCH METHODOLOGY The archival documents delivered by the client to Riskope should cover the TSFs and their dams including: geotechnical studies; geological studies; design reports; geotechnical analyses reports; inspections; correspondence; incidents descriptions; dam break analyses; FIA and GISTM consequences evaluations; emergency plans; and finally monitoring (equipment and measurements as applicable). During the deployment we deliver an analysis of the archival gaps, i.e. a list of documents that are apparently missing or…

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General ORE2 tailings workflow

ORE2_Tailings™ is a quantitative risk assessment platform. Riskope designed it specifically for tailings systems (active and inactive). When we deploy ORE2_Tailings™ to a portfolio of dams, possibly over multiple properties, it allows for tactical and strategic planning. Our practice has shown that ORE2_Tailings™ and the general ORE2 tailings workflow, delivers results similar to those of common practice quantitative approaches (Event trees, Failure trees, Bowties). Furthermore ORE2_Tailings™  enables answering specific questions linked to the causality of potential failures, optimization of cost…

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