Technical risk assessment techniques and practice in mineral resource management with special reference to the junior and small-scale mining sectors

摘要

The junior and small-scale mining sectors in South Africa play an important role in the livelihoods of numerous communities. Mining presents an opportunity, in the post-1994 democratic era, for many individuals to obtain access to much required empowerment and socio-economic development. These sectors are, however, not without numerous characteristics that pose problems for operators, legislators, and other role-players. Mining is inherently risky, with operators experiencing frequent difficulties and challenges throughout the life of mine. Opportunity exists, and needs to be enhanced, for junior and small-scale prospects and operations to include technical risk assessment techniques in documentation presented in search for funding, and in optimizing monthly planning and longer-term functioning. The focus here is to explore how the risk management cycle may currently be applied to a mineral resource suitable for exploitation by the junior and small-scale mining sectors. No management process can create additional value in the ground, but various available mechanisms can go a long way to quantifying the inherent risk that exists, highlighting the need to manage the risks and hopefully allowing the entrepreneur access to the intrinsic opportunities of the emerging mining sector in South Africa.