Planning Of Open Pit Mines On A Risk Basis
Organization: The Southern African Institute of Mining and Metallurgy
Jan 1, 1997
This paper addresses the methodology of introducing risk into the development of mine plans for open pit mines. Recommendations are put forward for achieving a risk balance between mineral resource estimates and slope design. A design process identifying criteria for different stages of planning is presented. Business risk is separated from geological/geotechnical risk and procedures to address these within the development of mine plans are suggested. It is concluded that a formal design process improves communication between key decision makers and adds value to shareholders, investment.