Direct block scheduling under marketing uncertainties.
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Date
2018
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Abstract
Mineral projects are composed of geological, operational and market uncertainties,
and reducing these uncertainties is one of the objectives of engineering. Most
surveys assess the impact of geological and operational uncertainties on the mining
planning. The objective of this work is to study the impact of market uncertainty on
the mineral activity. The influence of iron ore price simulation on mining sequencing
will be evaluated. The price of iron ore has random behavior that is best represented by
the Geometric Brownian Movement system. This study analyzed the historical series
of iron ore in order to determine the percentage volatility and drift. Traditionally, a
constant and deterministic price is used for the ore mined in all periods of a mineral
project. The direct block scheduling methodology was adopted because it is able to
apply the appropriate financial discount factor to the simulated probabilistic price. The
proposed methodology was able to quantify the market uncertainty.
Description
Keywords
Mine planning, Mine scheduling, Price simulation, Brownian motion
Citation
BURGARELLI, H. R. Direct block scheduling under marketing uncertainties. REM - International Engineering Journal, v. 71, p. 275-280, 2018. Disponível em: <http://www.scielo.br/scielo.php?script=sci_abstract&pid=S2448-167X2018000200275&lng=en&nrm=iso>. Acesso em: 12 fev. 2019.