Uncertainty Representation Method for Open Pit Optimization Results Due to Variation in Mineral Prices
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...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2016-02-01
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| Series: | Minerals |
| Subjects: | |
| Online Access: | http://www.mdpi.com/2075-163X/6/1/17 |