Abstract
This work outlines a procedure for integrating uncertainty and operational flexibility into open pit mine design selection. A multi-criteria design ranking system based on advanced uncertainty and financial modeling techniques such as Monte Carlo simulation and real options is proposed. A case study at a copper mine is provided.
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Abdel Sabour, S.A., Dimitrakopoulos, R. Incorporating geological and market uncertainties and operational flexibility into open pit mine design. J Min Sci 47, 191–201 (2011). https://doi.org/10.1134/S1062739147020067
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DOI: https://doi.org/10.1134/S1062739147020067