This study proposes a new method to quantitatively represent the uncertainty existing in open pit optimization results due to variations in mineral prices. After generating multiple mineral prices using Monte Carlo simulation with data on past mineral prices, a probability model that represents the uncertainty was developed by integrating multiple open pit optimization results derived from the ...

Geographic information system (GIS) technology has been applied to analyze the offshore marine placer gold deposits at Nome, Alaska. Two geodatabases, namely Integrated Geodatabase (IG) and Regularized 2.5D Geodatabase (R2.5DG), were created to store and integrate digital data sets in heterogeneous formats. The IG served as a data warehouse and used to manage various geological data, such as bo...

We study how much private mineral owners capture geologically-driven advantages in well productivity through a higher royalty rate. Using proprietary data from nearly 1.8 million leases, we estimate that the six major shale plays generated $39 billion in private royalties in 2014. There is limited pass-through of resource abundance into royalty rates. A doubling of the ultimate recovery of the ...

Due to the nature of the geological and mining activities, different input parameters in the grade estimation and mineral resource evaluation are always tainted with uncertainties. It is possible to investigate the uncertainties related to the measurements and parameters of the variogram model using the fuzzy kriging method instead of the kriging method. The fuzzy kriging theory has already bee...

The Mineral Potential project was initiated in 1992 to meet the need for cnrrent regional mineral potential information in regional and sub-regional land-use planning. These planning processes have the responsibility of making recommendations on protected areas, as described in the provincial Protected Areas Strategy (PAS). The goal of PAS, created in 1992, is to protect representative examples...