Adaptive Management and Strategic Risk Assessment

Adaptive Management and Strategic Risk Assessment Overview

Due to the dynamic nature of mining closure, it is important to implement a proactive approach to monitoring and assessing risk. At Okane, our adaptive management approach allows for flexibility in responding to changing circumstances, uncertainties, and emerging risks during closure. Since closure activities can span many years, external factors such as regulatory changes, market conditions, and technological advancements can significantly influence the closure process. Adaptive management allows for timely adjustments to these evolving conditions, ensuring that closure objectives are met.

Strategic risk assessment plays an integral role in ensuring the success of mining closure activities. It involves identifying, analyzing, and prioritizing potential risks and uncertainties that could impact the closure process and its objectives. We help our clients conduct comprehensive risk assessments from identifying risks to developing mitigation strategies and contingency plans to address identified risks. Our approach helps minimize potential adverse events to the surrounding environment, communities, and stakeholders. Strategic risk assessment provides a structured framework to identify and manage these risks, promoting sustainable and responsible closure practices.

Both adaptive management and strategic risk assessment encourage continuous improvement and learning in mining closure. By systematically monitoring and evaluating closure activities, identifying lessons learned, and incorporating best practices, the closure process can evolve and improve over time.

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Okane Consultants mine closure Adaptive Value Driver

Okane's Capabilities

An adaptive management plan is a dynamic and flexible approach to managing uncertainty over time. A ‘learn-by-doing’ approach ensures effective management and monitoring of environmental impacts during and after mining operations. Okane’s team of experts helps our clients develop tailored adaptive management plans that consider the unique characteristics of each site and the specific regulatory requirements.

Failure modes and effects analysis is a systematic approach to the assessment of all mine closure risks (a combination of likelihood and consequence of failure). FMEAs are recognized in many jurisdictions as an effective framework to assess the long-term geotechnical and geochemical stability risk for mine landforms including tailings storage facilities. Our team of experienced professionals can facilitate effective FMEA workshops to conduct thorough evaluations of mine closure designs and plans. Our goal is to assist in developing a clear risk profile for each area of concern and to identify alternative designs or mitigation strategies to manage the risk and reduce potential liability.

Cost-benefit analysis (CBA) is a crucial tool that helps evaluate the economic feasibility of closure plans by comparing the costs of closure activities against the expected benefits. At Okane, we conduct thorough assessments to determine the potential financial, social, and environmental impacts associated with mine closure, including reclamation and post-closure monitoring.

Additionally, Okane offers expertise in value driver tree analysis (VDT), which is a powerful technique for identifying and prioritizing key value drivers and their interrelationships within a mining project. By analyzing and visualizing these value drivers, we assist in identifying areas of potential improvement, cost optimization, and risk mitigation throughout the mining lifecycle.

Multiple accounts analysis (MAA) is a tool to support decision-making that is adaptable over the mine life and over time as priorities change and new information emerges. By considering multiple accounts, we ensure that all relevant stakeholders' interests are considered and enable a holistic decision-making process for mine closure planning.

Our expertise also extends to multi-criteria analysis (MCA), which enables a transparent assessment of various criteria and alternatives during the mine closure decision-making process. We help our clients make informed decisions that are based on a comprehensive analysis of multiple criteria, resulting in more sustainable and responsible mine closure plans.

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