Design of Open Pit Mines using 3D Model in Two-element Deposits under Price Uncertainty

Abstract

When it comes to evaluating mining projects, uncertainty plays a significant role, particularly in the analysis of mining economic characteristics, which makes the assessment of a mining project erroneous and untrustworthy. The volatility of mineral prices is a major cause of economic ambiguity and concern. Economic uncertainty has extensively been examined in mining production project planning, but the majority of the study has focused on single-element deposits, with little emphasis devoted to the significance of pricing uncertainty in two-element deposits. Using a three-dimensional tree model, this study investigates how design could be affected by the pricing uncertainty of two different elements. In this model, not only annual volatility but also monthly volatility were considered due to momentary changes in the price of several elements. To authenticate the proposed model, a numerical example was resolved using discounted cash flow, binomial tree, pyramid tree, and three-dimensional modeling techniques. The results of each approach were compared to those of real-world data. Following the findings of the current investigation, it can be concluded that the values derived from the suggested model (a net present value of $ 324.2 thousand) are more precise than the values acquired from other approaches, and that they are just 8% out of step with reality. Other methods, on the other hand, come up with results that are at least 17% and at most 39% different from those that come from real data.

Experimental Investigation on Hard Rock Strata for the purpose of Ground Water Improvement with the inclusion of Bore Blasting Technique

“…In the case of basalt rock, the percolation of the infiltrated water can not pass to the basalt formation due to its impermeable properties. The recharging capacity of the basalt rock depends on the quality and the thickness of the rock formation (2,3), i.e., overlaying thickness, the texture of the formation, and the formation of soil structure according to geomorphology and topography (4). The groundwater recharge also depends on the amalgamation of parameters like hydrological conditions, topographic conditions, hydraulic conductivity of layers, water table level and its placation, thickness of strata, infiltration rate, and rate of recharge (5).…”

“…Many models were analyzed post-blasting, like the integrated scheduling model, transition model even 3D analysis for blasting overview (2,3). Still, uncertainties were observed threw out the process, whether that was a purpose of mining activity or tunneling purpose (2,3).…”

“…Many models were analyzed post-blasting, like the integrated scheduling model, transition model even 3D analysis for blasting overview (2,3). Still, uncertainties were observed threw out the process, whether that was a purpose of mining activity or tunneling purpose (2,3). Post effect of blasting was observed in different rock types in Sweden and Norway for the different rock formations while executing the tunnel project for La Estrella-Los Valles (28).…”