Financially Efficient Ore Selections Incorporating Grade Uncertainty

@article{Richmond2003FinanciallyEO,
  title={Financially Efficient Ore Selections Incorporating Grade Uncertainty},
  author={A. J. Richmond},
  journal={Mathematical Geology},
  year={2003},
  volume={35},
  pages={195-215}
}
  • A. Richmond
  • Published 1 February 2003
  • Computer Science
  • Mathematical Geology
Traditional mining selection methods focus on local estimates or loss functions that do not take into account the potential diversification benefits of financial risk that is unique to each location. A constrained efficient set model with a downside risk function is formulated as a solution. Estimates of this nonlinear mixed-integer combinatorial optimization problem are provided by a simulated annealing heuristic. A utility framework that is congruent with the proposed efficiency model is then… Expand
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Optimal ore selection decisions under uncertainty are currently considered in terms of the expected utility, which involves post-processing conditional probability distributions of grade values usingExpand
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