Risk Assessment in a Long Term Mining Contract - The Contractor's Viewpoint
Organization: The Australasian Institute of Mining and Metallurgy
Jan 1, 1986
International tenders for contract mining opportunities require the Contractor to make an assessment of risk for an operation with a life span of up to twenty-five years usually based on data made available by the Client. This paper seeks to address how the Contractor assesses the data and quantifies the risks associated with the project. The areas of risk are common to most projects, but in the--Lontractor's case, risk assessment is carried out on the Client's data base and within a compressed time frame of usually less than six months. Incorporation of that risk assessment into the contract documentation is also discussed. Practical examples are given in a number of areas.