Pub Date : 2001-03-01DOI: 10.1142/S0950609801000476
A. Richmond
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 using economic objective functions. The expected utility concept, which weights the financial consequences by their probabilities, implies that the decision-maker is totally impartial to money and the magnitude of potential profits and losses. A probabilistic framework to account for the decision-maker's financial risk attitude in ore selection decisions through the use of certainty equivalents (expected utilities on a preference scale) is proposed. The risk-reward nature of mining selections under uncertainty and the certainty equivalent approach to optimal ore selection is demonstrated in an artificial grade control case study.
{"title":"INCORPORATING FINANCIAL RISK ATTITUDES IN ORE SELECTION DECISIONS FROM PROBABILISTIC MODELS","authors":"A. Richmond","doi":"10.1142/S0950609801000476","DOIUrl":"https://doi.org/10.1142/S0950609801000476","url":null,"abstract":"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 using economic objective functions. The expected utility concept, which weights the financial consequences by their probabilities, implies that the decision-maker is totally impartial to money and the magnitude of potential profits and losses. A probabilistic framework to account for the decision-maker's financial risk attitude in ore selection decisions through the use of certainty equivalents (expected utilities on a preference scale) is proposed. The risk-reward nature of mining selections under uncertainty and the certainty equivalent approach to optimal ore selection is demonstrated in an artificial grade control case study.","PeriodicalId":195550,"journal":{"name":"Mineral Resources Engineering","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2001-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129457507","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2000-12-01DOI: 10.1016/S0950-6098(00)00034-2
C. Sensogut, I. Cinar
{"title":"A RESEARCH ON THE TENDENCY OF ERMENEK DISTRICT COALS TO SPONTANEOUS COMBUSTION","authors":"C. Sensogut, I. Cinar","doi":"10.1016/S0950-6098(00)00034-2","DOIUrl":"https://doi.org/10.1016/S0950-6098(00)00034-2","url":null,"abstract":"","PeriodicalId":195550,"journal":{"name":"Mineral Resources Engineering","volume":"15 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122196171","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2000-12-01DOI: 10.1016/S0950-6098(00)00033-0
J. Bhattacharya
{"title":"SUSTAINABLE DEVELOPMENT OF NATURAL RESOURCES: IMPLICATIONS FOR MINING OF MINERALS","authors":"J. Bhattacharya","doi":"10.1016/S0950-6098(00)00033-0","DOIUrl":"https://doi.org/10.1016/S0950-6098(00)00033-0","url":null,"abstract":"","PeriodicalId":195550,"journal":{"name":"Mineral Resources Engineering","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129046855","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2000-12-01DOI: 10.1016/S0950-6098(00)00036-6
J. Segui
{"title":"EVALUATING THE EFFECT OF THE INITIATION METHOD ON BLASTING BY SEISMOGRAPHIC MONITORING AND IMAGE ANALYSIS","authors":"J. Segui","doi":"10.1016/S0950-6098(00)00036-6","DOIUrl":"https://doi.org/10.1016/S0950-6098(00)00036-6","url":null,"abstract":"","PeriodicalId":195550,"journal":{"name":"Mineral Resources Engineering","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130413927","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2000-12-01DOI: 10.1016/S0950-6098(00)00037-8
P. Chakraborty
{"title":"A VIRTUAL-REALITY-BASED MODEL FOR TASK-TRAINING OF EQUIPMENT OPERATORS IN THE MINING INDUSTRY","authors":"P. Chakraborty","doi":"10.1016/S0950-6098(00)00037-8","DOIUrl":"https://doi.org/10.1016/S0950-6098(00)00037-8","url":null,"abstract":"","PeriodicalId":195550,"journal":{"name":"Mineral Resources Engineering","volume":"115 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123418503","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2000-09-01DOI: 10.1016/S0950-6098(00)00027-5
K. Erarslan
{"title":"A PRACTICAL APPROACH FOR 3D MODELLING OF ORE BODIES AND THE DESIGN OF DEVELOPMENT FOR UNDERGROUND OF MINES","authors":"K. Erarslan","doi":"10.1016/S0950-6098(00)00027-5","DOIUrl":"https://doi.org/10.1016/S0950-6098(00)00027-5","url":null,"abstract":"","PeriodicalId":195550,"journal":{"name":"Mineral Resources Engineering","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123913585","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2000-09-01DOI: 10.1016/S0950-6098(00)00026-3
T. Szwedzicki
{"title":"CHALLENGES FOR MINING IN THE NORTHERN TERRITORY, AUSTRALIA","authors":"T. Szwedzicki","doi":"10.1016/S0950-6098(00)00026-3","DOIUrl":"https://doi.org/10.1016/S0950-6098(00)00026-3","url":null,"abstract":"","PeriodicalId":195550,"journal":{"name":"Mineral Resources Engineering","volume":"169 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126570048","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2000-09-01DOI: 10.1016/S0950-6098(00)00023-8
K. Erarslan
{"title":"A PRACTICAL APPROACH FOR OPEN PIT DESIGN AND VISUALISATION","authors":"K. Erarslan","doi":"10.1016/S0950-6098(00)00023-8","DOIUrl":"https://doi.org/10.1016/S0950-6098(00)00023-8","url":null,"abstract":"","PeriodicalId":195550,"journal":{"name":"Mineral Resources Engineering","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2000-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127856604","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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