Managing Mineral Resource Risk

Author(s): 
Erik Ronald
Date: 
Tuesday, February 26, 2019
First presented: 
SME 2019
Type: 
Presentation
Category: 
Geology
 
 
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.

 

Feature Author

Erik Ronald

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 has worked across North America, South America, and Australia from greenfields projects through open pit and underground operations. Erik has held technical, commercial, and leadership roles in both corporate and operational environments. His experience includes project management of technical studies such as exploration and evaluation programs, mineral resource and ore reserve studies, and multiple large project studies (conceptual, OoM/PEA, PFS, and FS levels). Erik is proficient in geological modeling using Maptek Vulcan and Leapfrog Geo software with extensive estimation and geostatistical experience using Isatis software.

Mr. Ronald is a “Qualified Person” for the purposes of NI 43-101 reporting of Mineral Resources and a “Competent Person” for JORC reporting of mineral resources.

Principal Resource Geologist
MEng Geological Engineering, BSc Geology, PG, MAusIMM, SME-RM
SRK Denver
SRK Asia Pacific