Managing complexity and risk in large-scale mining developments: strategies for successful operations

Authors: Rubio Esquivel, E; Fuentes Bustamante, M

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DOI https://doi.org/10.36487/ACG_repo/2645_104

Cite As:
Rubio Esquivel, E & Fuentes Bustamante, M 2026, 'Managing complexity and risk in large-scale mining developments: strategies for successful operations', in A van As, D Cumming-Potvin & J Wesseloo (eds), Caving 2026: Proceedings of the Sixth International Conference on Block and Sublevel Caving, Australian Centre for Geomechanics, Perth, pp. 1-19, https://doi.org/10.36487/ACG_repo/2645_104

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Abstract:
Large-scale mining developments, including next-generation ‘super caves’, are inherently complex, capitalintensive, and high-risk. As surface deposits deplete, the industry is transitioning to bulk underground methods – principally block and panel caving – to access deep orebodies. These projects face unique challenges, including decade-long development timelines and significant technical uncertainties. This paper examines strategies to manage such complexity through phased, modular development versus traditional front-loaded megaprojects. We discuss how embracing flexibility can mitigate risk and achieve economic outcomes often overlooked by conventional discounted cash flow (DCF) methods. By comparing caving techniques, exploring ‘super caving’ transitions, and analysing case studies like El Teniente and KamoaKakula, we synthesise best practices for securing long-term value through technical simplicity and adaptive planning.

Keywords: large-scale mining, underground mining, block caving, super caving, risk-based mine planning, phased project development, open pit to underground transition

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