The Society for Mining, Metallurgy & Exploration (SME) launched its newest publication, “Risk Management in Evaluating Mineral Deposits,” which offers a suite of tools to help determine whether investing in a mining project makes sense for your company.
According to SME, the publication is authored by Jean-Michel Rendu, a mining professional with a strong background in technical and financial studies, risk assessment and statistics.
Rendu offers a comprehensive guide to determine when to invest, when to demand a plan that reduces the risks and increases the chance of a positive outcome, and when to walk away.
The book covers a number of topics, including mining as a business, what may have gone wrong, the definition and public reporting of mineral assets, life-of-mine cycle and risk factors, risk assessment using Monte Carlo simulation, evaluating multistage projects, risk tolerance and utility function, and project utility and the triple bottom.
SME is a professional society whose members represent all professions serving the mining, minerals and underground construction industries in more than 100 countries.
