The MM-DR Mining De-Risking Framework™ is Mine Masters’ proprietary methodology for managing risk across every phase of a mining project. Version 1.1 is the current release. It is the parent document of the MM-DR Series — six inter-referencing volumes covering mining acquisition, capital markets compliance, operational readiness, performance governance, and asset closure. Developed for sovereign and institutional grade clients. Delivered exclusively owner-side. Zero conflicts of interest.
The MM-DR Framework overview is the free introduction to the MM-DR Series — six published practitioner volumes covering the full mining project lifecycle. View the full MM-DR Series here.
The Mine Masters De-Risking Framework™
Sovereign and Institutional Grade Risk Management — Across the Full Mining Lifecycle.
The MM-DR Framework™ is Mine Masters’ proprietary methodology for identifying, quantifying, sequencing, and controlling risk across every phase of a mining project — from first exploration through to final rehabilitation.
Built on one foundational principle: the owner’s interest must be the primary lens through which all risk decisions are made.
The MM-DR Series — Six Volumes, One System
The MM-DR Framework is the parent document of the MM-DR Series. The formal output of one volume is the documented input of the next. Five formal handover points govern the series — no gate can open without its mandatory inputs. MM-CF runs in parallel from project sanction through to the Closure Completion Certificate. The Regulatory Risk Register is the only instrument formally received by all six volumes, maintained from Prospecting and Exploration through to Mine Closure.
MM-DR — The Mine Masters De-Risking Framework — All 9 phases — Parent framework
MM-AQ — Mining Acquisition & Due Diligence — Phases 1 to 4
MM-CF — Mining Capital, Finance & Market Compliance — Phases 4 to 9, parallel
MM-OR — Mining Operational Readiness — Phases 4 to 6
MM-OG — Mining Operations & Performance Governance — Phases 6 to 8
MM-CL — Mining Asset Transition, Care & Closure — Phases 8 to 9
The Nine Project Phases
The MM-DR Framework is active across all nine phases of the mining project lifecycle. Each phase triggers specific pillars at defined intensity, with a gate output instrument required before the next phase can open.
Phase 1 — Prospecting & Exploration
Phase 2 — Scoping / Concept
Phase 3 — Pre-Feasibility Study (PFS)
Phase 4 — Definitive Feasibility Study (DFS)
Phase 5 — Project Development & Construction
Phase 6 — Commissioning & Ramp-Up
Phase 7 — Planning & Production
Phase 8 — Environment & Reclamation
Phase 9 — Mine Closure
Every project gate is a risk decision point. No gate is passed without documented owner-side sign-off on the active risk pillars — creating an auditable de-risking trail from exploration to closure.
The Seven Pillars of the MM-DR Framework™
Every volume in the series references MM-DR for risk philosophy, the seven pillars, and the five-point rating scale. The pillars are the backbone of the entire system — active across all nine project phases, from first acquisition interest through to post-closure certification.
The mining de-risking framework is built around seven risk domains that operate as an integrated system across the full project lifecycle — not as isolated checklists.
Pillar 1 — Geological & Ore Body Risk Independent verification of resource and reserve estimates, Competent Person auditing, grade continuity assessment, and drill core review. Capital decisions built on orebody confidence, not assumption. Output: Geological Risk Rating (GRR).
Pillar 2 — Geotechnical & Ground Control Risk Rock mass classification review, ground support design audit, slope stability assessment, and Principal Hazard Management Plan adequacy review. Geotechnical risk calibrated to the project — not defaulted to conservative. Output: Geotechnical Risk Register (GTR).
Pillar 3 — Feasibility & Economic Risk Independent review of Scoping, PFS, and DFS studies. OPEX and CAPEX benchmarking, sensitivity modelling, mining method review, and production ramp-up credibility assessment. Owner-side sign-off before capital is committed. Output: Feasibility Assurance Certificate (FAC).
Pillar 4 — Regulatory, Compliance & Social Licence Risk (incl. Water Rights & Political Risk) Permitting pathway analysis, EIA readiness review, social licence assessment, Indigenous engagement protocols, water rights and water security assessment, political and country risk assessment, and mine closure planning integration. Regulatory risk front-loaded so it never becomes a critical path constraint. Output: Regulatory Risk Register (RRR).
Pillar 5 — Operational Execution Risk Mine planning review, equipment selection audit, workforce and roster design, production system assessment, and commissioning risk evaluation. The gap between a sound DFS and a producing mine is an execution gap — MM-DR closes it. Output: Operational Execution Risk Report (OERR).
Pillar 6 — Financial Governance & Capital Stewardship Risk (incl. Insurance & Risk Transfer) Project controls framework review, contract strategy assessment, independent cost monitoring, Owner’s Engineer function, insurance and risk transfer register, and value engineering review. Capital deployed in accordance with approved scope — deviations identified before they become exposures. Output: Capital Stewardship Report (CSR).
Pillar 7 — Environment, Rehabilitation & Legacy Risk (incl. ESG & Sustainability) Environmental management system review, rehabilitation liability quantification, TSF risk assessment, AMD management review, financial assurance adequacy, and ESG baseline assessment against ICMM Principles and institutional investor requirements. Long-tail environmental liability quantified, funded, and progressively managed from day one. Output: Environmental & Legacy Risk Register (ELR).
The MM-DR Framework™ is aligned with internationally recognised standards including the JORC Code 2012, ISO 31000:2018 Risk Management, and ICMM Mining Principles.
Download the MM-DR Framework™
Version 1.1 — May 2026 | PDF | Available at no cost
The Mine Masters De-Risking Framework™ A comprehensive guide to sovereign and institutional grade risk management across the full mining project lifecycle.
Apply MM-DR to Your Project
Mine Masters delivers the MM-DR Framework through three engagement models: Full Lifecycle MM-DR for continuous owner-side advisory from exploration through closure; Phase Gate MM-DR for targeted review at defined project gates including PFS, DFS, and acquisition due diligence; and Rapid MM-DR Assessment — a structured risk scan across all seven pillars typically completed within four to six weeks.
Every MM-DR engagement produces: MM-DR Consolidated Risk Register, pillar-specific technical reports, executive summary formatted for board and investor review, management action plan, and gate certificate where applicable.
To discuss how the MM-DR Framework can be applied to your project or portfolio, contact the Mine Masters team today.