A game theoretic decision-making approach to reduce mine closure risks throughout the mine-life cycle
Bibliographic Data
| ID | 21153510 |
|---|---|
| Authors | Benjamin C Collins (0000-0001-6943-2774, McGill University), Mustafa Kumral (0000-0001-7827-8721, McGill University, corresponding author) |
| Year | 2024 |
| Volume | 42 |
| Issue | 1 |
| Pages | 43-55 |
| Publication date | 2024-01-02 |
| Open Access | No |
| Type | ARTICLE |
| Venue | Impact Assessment and Project Appraisal (JOURNAL) |
| Journal identifiers | ISSN: 1461-5517 • E-ISSN: 1471-5465 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/14615517.2023.2299619 |
| OpenAlex | W4390537674 |
| Language | EN |
| References cited | 46 |
To align a post-mining site to the wants and needs of local communities and stakeholders, mine closure needs to consider criteria which may be difficult to value using conventional cost–benefit analysis. For example, criteria associated with the environment, socio-environmental relationships, health, and long-term sustainability. Game theory techniques are implemented to investigate how different stakeholder groups could act during mine closure planning and decision-making. Using game theory with sustainability criteria, this study proposes an innovative approach to analyze some key decisions throughout the mine life that affect closure. Non-cooperative game theory models are investigated by developing Nash equilibrium equations which are based on the change in environmental risk, economic potential, and impacts on company reputation. The modified equilibrium formulas can highlight the key sustainability criteria for multi-stakeholder closure planning and complex decision-making. The discussion explores how the developed model can assist mining stakeholders in understanding their position during the mine closure process. In all, the game theory and multiple criteria models can help structure and manage the complex closure risks throughout the mine life cycle
Business · Computer security · Economics · Environmental economics · Game theory · Management science · Microeconomics · Nash equilibrium · Political science · Process management · Reputation · Stakeholder · Sustainability · Computer Science · Engineering · Hydropower, Displacement, Environmental Impact · Law · Mining and Resource Management · Tailings Management and Properties
A critical review of the social aspects of mine closure
Getting to ‘agreed’ post-mining land use – an ecosystem services approach
Ecology Revisited
Environmental sustainability, decision-making, and management for mineral development in the Canadian Arctic
Ecological economics
Use and misuse of the net present value in environmental studies
Ecological Economics
Examining impact and benefit agreements in mineral extraction using game theory and multiple-criteria decision making
A critical perspective on social license to operate terminology for Canada's most vulnerable mining communities
Innovation in mining
An analytical approach with a reliable logic and a ranking policy for post-mining land-use determination
Compensating the negative environmental impacts of mining with financial mechanisms in Brazil
Evaluating the effectiveness of integrating the environmental impact assessment and mine closure planning processes
The City that Ate Itself
Mining, the Environment, and Indigenous Development Conflicts
| Highly cited | No |
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