The mineral resource that a mining company has access to, represents the majority of the embedded value that exists within the company, as well as the competitive advantage that the company has over its peers._x000D_
However, the real value is only realised once effective mining plans have been put in place, which optimise the extraction of the resource, and add measurable value to the company._x000D_
The concept of mineral resource management (MRM) has been developed in South Africa, to ensure this optimisation happens in an integrated and quantifiable manner, such that value is added and risk is reduced, resulting in bottom line improvement for the stakeholders of the business._x000D_
This paper describes the process of mineral resource management, and draws on successes and failures of various companies, to illustrate how it should be implemented, and what measures should be put in place to ensure its success._x000D_
This requires a fundamental re-appraisal of the way in which mining companies plan and execute their businesses, and focuses attention on real value adding activities and behaviour through the use of economic value added as an appropriate metric by which to measure real value and risk._x000D_
Specifically, the paper focuses on these aspects as applied to planning models and processes, exploration activity and risk management, to ensure operational and project success.