Direct block scheduling under marketing uncertainties

Abstract Mineral projects are composed of geological, operational and market uncertainties, and reducing these uncertainties is one of the objectives of engineering. Most surveys assess the impact of geological and operational uncertainties on the mining planning. The objective of this work is to st...

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Bibliographic Details
Published in:REM - International Engineering Journal 2018-04, Vol.71 (2), p.275-280
Main Authors: Burgarelli, Hudson Rodrigues, Souza, Felipe Ribeiro, Nader, Alizeibek Saleimen, Torres, Vidal Félix Navarro, Câmara, Taís Renata, Ortiz, Carlos Enrique Arroyo, Galery, Roberto
Format: Article
Language:English
Subjects:
Brownian motion
direct block scheduling
ENGINEERING, MECHANICAL
GEOLOGY
MECHANICS
METALLURGY & METALLURGICAL ENGINEERING
mine planning
mine scheduling
price simulation
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Summary:Abstract Mineral projects are composed of geological, operational and market uncertainties, and reducing these uncertainties is one of the objectives of engineering. Most surveys assess the impact of geological and operational uncertainties on the mining planning. The objective of this work is to study the impact of market uncertainty on the mineral activity. The influence of iron ore price simulation on mining sequencing will be evaluated. The price of iron ore has random behavior that is best represented by the Geometric Brownian Movement system. This study analyzed the historical series of iron ore in order to determine the percentage volatility and drift. Traditionally, a constant and deterministic price is used for the ore mined in all periods of a mineral project. The direct block scheduling methodology was adopted because it is able to apply the appropriate financial discount factor to the simulated probabilistic price. The proposed methodology was able to quantify the market uncertainty.
ISSN:2448-167X
2448-167X
DOI:10.1590/0370-44672017710128