Geological uncertainty and risk:implications for the viability of mining projects

Computerized geological models are the basis of modern mine design,planning and production.A sound,validated geological model is essential to the success of a min- ing project.However,due to the complexity of geology surrounding deposits,geological models inherit uncertainty,or error.This geological uncertainty may significantly affect the risk profile of a mining project during its design and operational phases.Methodologies for quantifying geological uncertainty and risk have been developed by CRC Mining and the University of Queensland,Australia and successfully applied to case studies.This paper discussed the implications of geological uncertainty and risk to a coal mining project,and presents advances for quantifying geological/geotechnical uncertainty and risk.A case study is presented to demonstrate the application of the technology developed.

Selection method of risk response schemes for mining project based on fuzzy preference relations

To overcome the subjectivity of experts in the process of risk response scheme selection, according to the theory of group decision making, a selection method and flow of the risk response schemes for a mining project was proposed based on fuzzy preference relation and consistency induced ordered weighted averaging (C-IOWA) operator,which can overcome the loss of information in the process of group decision making to a great degree, and improve its efficiency and quality.A numeric example was introduced to illustrate the application of the method, also validating the method as scientific and practicable.

The application of option pricing theory to the evaluation of mining investment

A rational evaluation on an investment project forms the basis of a right investment decision making. The discounted cash flow (DCF for short) method is usually used as a traditional evaluation method for a project investment. However, as the mining investment is influenced by many uncertainties, DCF method cannot take into account these uncertainties and often underestimates the value of an investment project. Based on the option pricing theory of the modern financial assets, the characteristics of a real project investment are discussed, and the management option of mine managers and its pricing method are described.

The Successful Commissioning of The Pulang Copper Mine Phase I Mining and Dressing Project

On March 16,the commissioning ceremony of the Pulang Copper Mine phase I mining and dressing project was held as scheduled.The Pulang Copper Mine,located in the 3,500-meter altitude snowy plateau of Shangri-la

Baise Mining Group's Annual 1-million-ton Deep Aluminum Processing Project Commenced

The Baise Municipal Government held a commencement ceremony for Baise Mining Group’s1-million-ton deep aluminum processing project('Project')at its base in the Poverty Alleviation Industrial Park in Pingguo County.It’s learnt that the Project includes an annual450,000-ton medium and thick plates and plate belts for transportation project,an annual 160。

Baise Mining Group's 300,000 t/a Aluminum Project Achieved Production Target, 10000 t/a High Purity Aluminum Project Broke Ground

The 10000 t/a high purity aluminum engineering project in Baise Mining Group’s Coal-power-aluminum Integration Project started construction at Tianyang Xinshan Aluminum Industrial Park.Following the successful production launching of Baise Mining Group’s Coal-power-aluminum Integration Xinshan Project-Phase I2×350MW coal-fired unit self supply