Project risk management in the mining industry is necessary to identify, analyze and reduce uncertainty. The engineering features of mining enterprises, by their nature, require improved risk management tools. This article proves the relevance of creating a simulation model of the production process to reduce uncertainty when making investment decisions. The purpose of the study is to develop an algorithm for deciding on the economic feasibility of creating a simulation experiment. At the same time, the features and patterns of the cases for which the simulation experiment was carried out were studied. Criteria for feasibility assessment of the model introduction based on a qualitative parameters became the central idea for algorithm. The relevance of the formulated algorithm was verified by creating a simulation model of a potassium salt deposit with subsequent optimization of the production process parameters. According to the results of the experiment, the damage from the occurrence of a risk situations was estimated as a decrease in conveyor productivity by 32.6%. The proposed methods made it possible to minimize this risk of stops in the conveyor network and assess the lack of income due to the risk occurrences.

The St. Peter Sandstone of the American Midwest is presented today in textbooks as a simple and unproblematic example of “layer-cake geology.” The thesis of this paper is that the very simplicity of St. Peter Sandstone has made it challenging to characterize. In widely separated states, the sandstone appeared under different names. Several theories about how it formed began to circulate. The story of the St. Peter is not only the story of the assemblage of a stratigraphic unit over a vast area during three centuries, but also the role the study of the provenance of this unit played in the development of sedimentology in the early twentieth century, research that was made all the more challenging by its “simple” mineralogy. Indeed, the St. Peter has been controversial since it was first described.