The effective management of geological risk in long-term production scheduling of open pit mines

Investment in mining projects, like most business investment, is susceptible to risk and uncertainty. The ability to effectively identify, assess and manage risk may enable strategic investments to be sheltered and operations to perform closer to their potential. In mining, geological uncertainty is seen as the major contributor to not meeting project expectations. The need to assess and manage geological risk for project valuation and decision-making translates to the need to assess and manage risk in any pertinent parameter of open pit design and production scheduling. This is achieved by taking geological uncertainty into account in the mine optimisation process. This thesis develops methods that enable geological uncertainty to be effectively modelled and the resulting risk in long-term production scheduling to be quantified and managed. One of the main accomplishments of this thesis is the development of a new, risk-based method for the optimisation of long-term production scheduling. In addition to maximising economic returns, the new method minimises the risk of deviating from production forecasts, given the understanding of the orebody. This ability represents a major advance in the risk management of open pit mining.

Illinois land report : Rice Lake Conservation Area.

"August 29, 1983."

Illinois plants for habitat restoration : commercial availability, characteristics and fish & wildlife utilization.

Cover title.

Illinois surface-mined land regulation and reclamation : interim report /

Caption title.

Our reclamation future : the missing bet on trees /

"Project no. 80.057."

Program review and planning document of the Abandoned Mined Lands Reclamation Council : adopted on March 7, 1978.

Council chairman: Lt. Gov. Dave O'Neal.

Surface-mined land conservation & reclamation act: (PA 78-1295, effective July 1, 1975) : rules and regulations (effective March 18, 1976).

Mode of access: Internet.

Western energy : the interregional coal analysis model /

Prepared in cooperation with U.S. Environmental Protection Agency, Office of Environmental Engineering and Technology.

Restoring surface-mined land.

Mode of access: Internet.

Land reclamation requirements and their estimated effects on the coal industry /

Bibliography: leaves 33-34.

Bibliography of surface-mine reclamation research : 1976-1993 /

Includes index.

Runoff and water-quality characteristics of surface-mined lands in Illinois /

Mode of access: Internet.