Enterprise-wide risk management of mining operations in a value chain environment

矿业公司的主要资产是矿藏，矿藏的形状和含量通常不稳定，因此原材料的供应和经济价值也不稳定。此外，矿业公司密切监测各种指标，如价格机制、生产价值链，包括顺序过程、地缘政治稳定性、立法趋势，以及在盈利、人与环境互动的背景下的可持续发展。以上都是特别强调与采矿作业/投资有关的风险的综合因素。过去几十年来，矿业企业的财务和技术分析进一步演变，以应对全球化、行业放松管制、与采矿产品有关的金融工具日益复杂、结构调整以及开采和计算技术进步等新的驱动力。本文所述的拟议研究计划侧重于(I)开发与采矿运营和财务风险相关的新的模拟框架；(Ii)通过随机数学规划方法制定和解决金融风险优化问题；(Iii)针对灾难性的金融、环境或运营事件产生保护方法；(Iv)通过连续和离散事件模拟对矿业资产组合/价值链进行建模；(V)管理基于可用信息最大化项目价值与花费资源以获得更多信息以改进决策过程之间的权衡。将开发新的建模、仿真和优化方法，以实现与运营和业务风险相关的研究目标。拟议的研究将对以下方面产生影响：(A)以现实的方式管理风险的投资战略和运营分析；(B)通过多样化、对冲、量化和缓解来推进风险管理；(C)适用的基于风险的决策做法，使采矿企业能够更有效地开展工作；(D)开发新的采矿项目估值方法。

The major assets of mining companies are mineral deposits, which are typically erratic in shape and content, consequently also erratic in supply of raw materials and economic value. In addition, mining companies closely monitor a diverse group of indicators such as price mechanism, production value chain including sequential processes, geopolitical stability, legislation trends, and sustainable development in the context of profitability, human and environment interaction. The above are all-in factors that put a specific emphasis on risks associated with mining operations/investments. Financial and technical analysis of mining enterprises has over past few decades further evolved to respond to new driving forces such as globalization, industry deregulation, increasing complexity of financial instruments related to mining products, restructuring, and advancements from extraction and computing technologies. The proposed research program described herein focuses on (i) developing new simulation frameworks associated with mining operational and financial risks; (ii) formulating and solving financial risk optimization problems through stochastic mathematical programming approaches; (iii) producing protection approaches against catastrophic financial, environmental or operational events; (iv) modeling a mining asset portfolio/value chain through continuous and discrete event simulation (v) managing trade-off between maximizing project value based on available information and spending resources to have more information to improve decision making processes. New modeling, simulation and optimization methods will be developed to achieve the research aims relating to operation and business risks. The proposed research will have impacts on: (a) investment strategy and operation analysis that manages risks in a realistic way; (b) advancing risk management through diversifying, hedging, quantifying and mitigating; (c) applicable risk-based decision-making practices such that mining enterprises perform more effectively and (d) development of new mine project valuation approaches.