We thought of Wells Fargo judgement and Tailings risks in follow-up to the recent judgement against a number of bank’s officers. The judgement cites widespread failure to: “identify the root cause of …misconduct”, “provide credible challenges to risk controls managers”, “timely evaluate the effectiveness of risk controls” and finally, “timely identify, address and escalate the risk management controls failures that threatened the safety, soundness and reputation…”. At first sight one may be tempted to dismiss this “banking-legal” stuff as not…
Read More
Tailings risk correlations or lack thereof refers to a phenomenon we oftentimes encounter in ORE ERMs deployments in various industries. The risk bubble in the p-C graph The figure below shows a classic simplified result from a ERM. The quadrant is the probability (p), Consequence (C) quadrant with the addition of the risk tolerance band. The band has a width corresponding to the divergent opinion between optimistic and pessimistic key stakeholders on tolerance. A given hazard has uncertainties on both…
Read More
Dam portfolio ORE2_Tailings support for ICMM standard on tailings management (GISTM) is multifaceted. ORE2_Tailings™ is a risk assessment platform specifically Riskope designed specifically for tailings systems. When we deploy it to a portfolio of dams, possibly over multiple properties, it allows for tactical and strategic planning. We have already discussed the single dam case in relation to ICMM • Global Industry Standard on Tailings Management (2020) and the conformance protocols. Today we present an example of deployment at portfolio level.…
Read More
