Orebody Modelling and Strategic Mine Planning - Uncertainty and Risk Management Models

Orebody modeling and strategic mine planning are arguably the backbone of the industry and represent an intricate, complex and critically important part of mining ventures. They have a profound effect on the value of a mine, as well as determining the technical plan to be followed from mine development to mine closure. This second edition includes three additional papers highlighting new developments, including integrated mine evaluation and mine management under uncertainty; optimizing ore extraction and in-pit dumping; and stochastic simulation of orebody geology or wireframes with multi-point spatial statistics. Topics covered include: Why Strategic Risk Management? New Practical Conditional Simulation Methods and Applications Advances in Conventional Mining Optimization and Applications Integrated Large-Scale Applications Geological Uncertainty and Mineral Resources/Ore Reserves Geotechnical Risk and Mine Design Case Studies and Blending Optimization New Concepts, Technologies and DirectionsContent: Front Matter • Table of Contents •Section 1. Why Strategic Risk Management? 1. Beyond Naïve Optimisation 2. Integrated Mine Evaluation - Implications for Mine Management 3. Using Real Options to Incorporate Price Risk into the Valuation of a Multi-Mineral Mine 4. Roadblocks to the Evaluation of Ore Reserves - The Simulation Overpass and Putting More Geology into Numerical Models of Deposits 5. Quantification of Risk Using Simulation of the Chain of Mining - Case Study at Escondida Copper, Chile 6. Integrated Strategy Optimisation for Complex Operations •Section 2. New Practical Conditional Simulation Methods and Applications 7. Simulation of Orebody Geology with Multiple-Point Geostatistics - Application at Yandi Channel Iron Ore Deposit, WA and Implications for Resource Uncertainty 8. New Efficient Methods for Conditional Simulation of Large Orebodies 9. A Practical Process for Geostatistical Simulation with Emphasis on Gaussian Methods 10. Conditional Simulation by Successive Residuals - Updating of Existing Orebody Realisations 11. Fractal-Based Fault Simulations Using a Geological Analogue - Quantification of Fault Risk at Wyong, NSW, Australia 12. The Use of Conditional Simulation to Assess Process Risk Associated with Grade Variability at the Corridor Sands Detrital Ilmenite Deposit, Mozambique 13. Risk Management through the Use of 2D Conditional Co-Simulation at an Underground Gold Mine in Western Australia •Section 3. Advances in Conventional Mining Optimisation and Applications 14. Pseudoflow, New Life for Lerchs-Grossmann Pit Optimisation 15. Large-Scale Production Scheduling with the Fundamental Tree Algorithm - Model, Case Study and Comparisons 16. Multi-Mine Better Than Multiple Mines 17. Blasor - Blended Iron Ore Mine Planning Optimisation at Yandi, Western Australia 18. Joint Ore Extraction and In-Pit Dumping Optimisation 19. Optimisation in the Design of Underground Mine Access 20. Open Pit Optimisation - Strategies for Improving Economics of Mining Projects through Mine Planning 21. Network Linear Programming Optimisation of an Integrated Mining and Metallurgical Complex •Section 4. Integrated Large-Scale Applications 22. Application of Conditional Simulations to Capital Decisions for Ni-Sulfide and Ni-Laterite Deposits 23. Grade Uncertainty in Stope Design - Improving the Optimisation Process 24. Strategic Mine Planning at Murrin-Murrin, Western Australia - Implementing NetVal 25. Development and Application of Whittle Multi-Mine at Geita Gold Mine, Tanzania 26. Assessing Underground Mining Potential at Ernest Henry Mine Using Conditional Simulation and Stope Optimisation 27. Optimising Open Pit Design with Simulated Orebodies and Whittle Four-X - A Maximum Upside/Minimum Downside Approach 28. Incorporating Grade Uncertainty in the Decision to Expand the Main Pit at the Navachab Gold Mine, Namibia, through the Use of Stochastic Simulation •Section 5. Geological Uncertainty and Mineral Resources/Ore Reserves 29. Orebody Modelling, Mine Planning, Reserve Evaluation and the Regulatory Environment 30. Diamond Resources and Reserves - Technical Uncertainties Affecting Their Estimation, Classification and Valuation 31. Koniambo Lateritic Ni-Co Deposits, New Caledonia - A Case Study from Geological Modelling to Mineral Resource Classification 32. The Value of Additional Drilling to Open Pit Mining Projects 33. Quantification of Geological Uncertainty and Risk Using Stochastic Simulation and Applications in the Coal Mining Industry •Section 6. Geotechnical Risk and Mine Design 34. Risk Assessment in Strategic and Tactical Geomechanical Underground Mine Design 35. Geotechnical Risk Considerations in Mine Planning 36. Mine Design in Western Australia - A Regulator's Perspective 37. A Practical Application of an Economic Optimisation Model in an Underground Mining Environment •Section 7. Case Studies and Blending Optimisation 38. The Use of Extractive Blending Optimisation for Improved Profitability 39. Optimising the Strategic Mine Plan - Methodologies, Findings, Successes and Failures 40. Optimising Multiple Operating Policies for Exploiting Complex Resources - An Overview of the Comet Scheduler 41. Integrating Multiple Simulations and Mining Dilution in Open Pit Optimisation Algorithms 42. Hybrid Pits - Linking Conditional Simulation and Lerchs-Grossmann through Set Theory •Section 8. New Concepts, Technologies and Directions 43. Global Asset Optimisation 44. A Multi-Stage Approach to Profitable Risk Management for Strategic Planning in Open Pit Mines 45. A New Efficient Joint Simulation Framework and Application in a Multivariable Deposit 46. Modelling the Geometry of Geological Units and Its Uncertainty in 3D from Structural Data - The Potential-Field Method 47. Planning, Designing and Optimising Production Using Geostatistical Simulation 48. Mining Schedule Optimisation for Conditionally Simulated Orebodies 49. Stochastic Optimisation of Long-Term Production Scheduling for Open Pit Mines with a New Integer Programming Formulation 50. Uncertainty and Risk Management in Research and Development •Appendix• Orebody Modelling and Strategic Mine Planning: Uncertainty and Risk Management

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