Quantitative Metrics to Assess & Manage Mining Safety with Risk Meter

The risk factors affecting mining operations are many with potentially deadly consequences. Identifying and managing those vulnerabilities and threats scientifically is a key to conducting safe and successful mining operations. Failure to identify and manage these sources of risk will have very real consequences ranging from poor financial performance to adverse environmental impact to the death of miners. In this work, a software tool to facilitate assessment and management of mining risk is proposed. The Mining Risk Meter provides this critical tool for safety inspectors, management and high level decision makers. Using game theory and statistically-driven methodologies, it provides objective, quantitative risk assessment, and unlike any other tool available today, guidance for allocating resources for risk mitigation. As such, safety inspectors, management and decision makers in this basic industry will be greatly aided in their efforts to achieve safe and optimal mining operations by the use of this rational and objective tool for assessing and mitigating risk. Case studies are presented with international sources from 31 actual miners, however the source is held private.