2.3 Risk planning, management and mitigation

The ongoing process of risk assessment and the development and refinement of risk management plans is an integral component of ensuring that sustainable development objectives are met. Potential risks need to be identified and evaluated against relevant criteria, and control measures need to be designed and implemented, based on standards such as AS/NZS 4360:2004 Risk management.

Given the wide variety of risks that a mining project faces, including economic, environmental, social, reputational and even political risks, it is vital that there is clear alignment between monitoring and auditing and risk management. If a specific risk is identified (for example, a potential for tailings dam failure), appropriate monitoring (for example, groundwater pressures, underdrainage rates and so on) must be done to allow the risk to be appropriately managed. An associated program of regular audits should be scheduled to ensure that the required monitoring is being carried out and that performance evaluation is being done at a level commensurate with managing the risk. The incorporation of risk assessment and management procedures into monitoring design is discussed in more detail in Section 3.1.

Share this Page