Optimum mine production rate based on price uncertainty
نویسندگان
چکیده
منابع مشابه
Choosing the Optimum Underground Mine Layout with Regard to Metal Price Uncertainty Using Expected Utility Theory
Metal price is one of the most important parameters in the calculation of cut- off grade. The cut- off grade has the main role in determination of mine layout. Mine layout actuates mineable reserve, mine life and economic profitability. Not considering the uncertainty in metal prices can lead to a non-optimal layout. In this paper optimum underground mine layout is determined by expected utilit...
متن کاملCommodity price uncertainty propagation in open-pit mine production planning by Latin hypercube sampling method
Production planning of an open-pit mine is a procedure during which the rock blocks are assigned to different production periods in a way that leads to the highest net present value (NPV) subject to some operational and technical constraints. This process becomes much more complicated by incorporation of the uncertainty existing in the input parameters. The commodity price uncertainty is among ...
متن کاملcommodity price uncertainty propagation in open-pit mine production planning by latin hypercube sampling method
production planning of an open-pit mine is a procedure during which the rock blocks are assigned to different production periods in a way that leads to the highest net present value (npv) subject to some operational and technical constraints. this process becomes much more complicated by incorporation of the uncertainty existing in the input parameters. the commodity price uncertainty is among ...
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In the context of open-pit mine planning, uncertainties including commodity price would significantly affect the technical and financial aspects of mining projects. A mine planning that takes place regardless of the uncertainty in price just develops an optimized plan at the starting time of the mining operation. Given the price change over the life of mine, which is quite certain, optimality o...
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This paper shows how standard arguments supporting the imposition of price caps break down in the presence of demand uncertainty. In particular, though in the deterministic case the introduction or lowering of a price cap (above marginal cost) results in increased production, increased total welfare, decreased prices, and increased consumer welfare, we show that all of the above comparative sta...
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ژورنال
عنوان ژورنال: REM - International Engineering Journal
سال: 2019
ISSN: 2448-167X
DOI: 10.1590/0370-44672018720093