Risk Analysis in the Mining Industry
feasibility study estimates (Castle, 1985). A study of sixty mining projects covering the period from 1980 to 2001 showed average cost ove rruns of 22 percent with almost half of the projects reporting overruns of more than 20 percent (Gypton, 2002). A review of sixteen mining projects carried out in the 1990s showed an average cost overrun of 25 percent, attributed to overly .