SME 2019: Uncertainty & Risk in Resource Modeling

Managing Mineral Resource Risk

Mining & Exploration   |   Tuesday, February 26   |   2:05 pm     Room 506

Mineral Resources form the foundation of exploration and mining company value with risk management serving as a critical function of business decision making. Mineral Resources are converted to Reserves, Reserves are the basis for the mine plan, while the mine plan is the centerpiece of the business plan. A central responsibility of mining company Boards and Executive management teams is managing the inherent risky nature of Mineral Resources. Due to the dynamic nature of the business and the varying levels of technical staff experience, assurance can be challenging.

Through effective internal validation, reviews, and systems, coupled with external auditing, Mineral Resource risk can be understood and managed. Documented programs and a transparent assurance program are key for company Boards to communicate adequate risk management of Mineral Resources to investors and stakeholders.

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Erik Ronald
Erik Ronald

Principal Consultant
eronald@srk.com

Erik Ronald is a geologist with 20 years experience specializing in resource geology, exploration and evaluation, resource estimation and geostatistics, mine geology, auditing/due diligence, and reporting of mineral resources. His experience spans multiple commodities and deposit types including iron ore, porphyry, IOCG, industrial minerals, and epithermal deposits. Erik is proficient in geological modeling using Maptek Vulcan and Leapfrog Geo software with extensive estimation and geostatistical experience using Isatis software.

SME 2019

 

SRK North America