Risk Averse Approaches in Open-pit Production Planning under Ore Grade Uncertainty : a Ultimate Pit Study

@inproceedings{Daniel2013RiskAA,
  title={Risk Averse Approaches in Open-pit Production Planning under Ore Grade Uncertainty : a Ultimate Pit Study},
  author={L Daniel and Espinoza},
  year={2013}
}
During early phases of open-pit mining production planning many parameters are uncertain, and since the mining operation is performed only once, any evaluations based only on on average outcomes neglects the very real chance of obtaining an outcome that is below average. Taking into account also that operation costs are considerable and the mining horizon usually extends over several decades it is clear that open-pit production planning is a risky endeavor. In this work we take a risk-averse… CONTINUE READING