Abstract

Investment in mineral industries always deals with various economic, political, technical, and environmental risks. Not paying enough attention to such risks increases the possibility of investment failure. Accordingly, in this study, the risk criteria for investing in mineral industries and sub-criteria for risk assessment according to the type of industries, including mineral exploration, exploitation, and processing projects, have been identified and prioritized. In this regard, a methodology is presented based on multi-attribute decision-making methods, including Fuzzy Delphi, DEMATEL, and ANP methods to identify and analyze the risk criteria and evaluate sub-criteria. The results indicate that financial and commercial, technical, HSE, infrastructural considerations, geological, political, security, and legal risks are the main risk measures affecting investment in mining projects with different priorities. From the viewpoint of investment risk assessment in mineral processing and exploration projects, technical, financial and commercial, and geological risk criteria are the most significant, respectively. Generally, all risk criteria must be considered to make a reasonable investment in the mining sector, especially those more important.

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