Sustainability problem solving in the mining industry: Risk assessment approach

This paper applies risk assessment methods for determining the risks in the mining industry based on social, environmental and economic aspects of sustainability. The objectives of this work are to examine specific indicators for the mining industry related to a given state of sustainability and to identify the risks and their quantification. The risk identification is the first step in the process of risk assessment. Hierarchical Holographic Modelling (HHM) is the initial phase of mathematical theory for creating new models in terms to indicate and illustrate new types of risks and their further treatment. Hierarchical Holographic Modelling is applied to identify sources of risks for the mining industry by considering sustainability indicators. The method Risk Filtering, Ranking and Management (RFRM) is used in this study as a technique for filtering, ranking and creating new ideas for risk management. The holistic approach in this study enables a systematic and comprehensive review of risk sources and probable emerging risks. The results of this work show determined potential sources of risks and quantified the scenarios of risks as based information for risk management. The use of graphical representation, quantified and qualified data provides the basis for further research.