Better Decision-Making from Mine to Market By Better Assessment of Geological Uncertainty

Inadequate understanding and/or assessment of technical and economic risk associated with geological uncertainty are key reasons many mining projects do not achieve forecast profitability. In the last 20 years many new and existing mines have experienced geology related problems, including lower than planned development and production rates, geotechnical/stability issues, unplanned dilution, ore loss, reduced metallurgical performance, environmental management concerns and unbudgeted capital/operating costs. Greater emphasis on the evaluation and communication of uncertainty associated with geological interpretations for feasibility and operations management results in better decision-making. The outcome of better decision-making is more efficient mining yielding enhanced financial returns for the mining industry.