This can be achieved by direct investment in exploration, or by relying on successful exploration by others, with the intention of subsequent resource acquisition. Together these describe an important corporate function, loosely described as the management of resource inventory maintenance and growth . This includes the functions of the typical exploration division , but is much broader in scope, including a range of other technical and corporate expertise. This creates an opportunity to redefine the roles and functions within the traditional mining and exploration organisation to recognise these wider responsibilities. To illustrate the argument, the following alternative organisational map has been devised.
Uncertainty embodies the idea of unknown probabilities, i.e. randomness of the external environment.
Risk, on the other hand, refers to a measure of the adverse economic consequences of exposure to uncertainty. The contrasting behaviour of these agents across the activity range is referred to as the probability attribute . In this sense exploration is a conservative way to grow, and financial risk is minimised. Mine, or brownfields exploration, has similar low, controlled risks, matched by an inferred somewhat higher probability of success, i.e. with lower uncertainty. A highly risk-averse company would be expected to focus on exploration as its principal resource growth path.