VALUE OF GEOLOGICAL INFORMATION IN EXPLOITATION MANAGEMENT: THE CASE OF EXPLOITATION UNITS OF THE POLKOWICE-SIEROSZOWICE MINE

2014 ◽  
Vol 59 (1) ◽  
pp. 239-256
Author(s):  
Mariusz Krzak ◽  
Paweł Panajew
Keyword(s):  
Decision Making ◽  
Mining Industry ◽  
Mineral Deposit ◽  
Mineral Deposits ◽  
Decision Making Problem ◽  
Geological Information ◽  
Close Cooperation ◽  
Mathematical Techniques ◽  
Mining Projects ◽  
States Of Nature

Abstract The application of mathematical techniques of management is particularly significant in managing mineral deposits as well as generally in the mining industry, in which the execution of geological-mining projects is usually time-consuming and expensive. Such projects are usually undertaken in conditions of uncertainty, and the incurred expenses do not always generate satisfactory revenues. Mineral deposit management requires close cooperation between the geologist providing necessary information about the deposit and the miner conducting exploitation work. A real decision-making problem was undertaken, in which three exploitation divisions of a certain area in the Polkowice-Sieroszowice mine, differing in ore quality, could be developed in an order which would guarantee maximisation of income. First, the ore price was calculated with the NSR formula; next, the decision-making problem was presented as a kind of game between the geologist (the mine) and states of Nature.

THE EVALUATION OF AN ORE DEPOSIT DEVELOPMENT PROSPECT THROUGH APPLICATION OF THE "GAMES AGAINST NATURE" APPROACH

2013 ◽  
Vol 30 (06) ◽  
pp. 1350029 ◽  
Author(s):  
MARIUSZ KRZAK
Keyword(s):  
Decision Making ◽  
Mineral Deposit ◽  
Ore Deposits ◽  
Supplementary Information ◽  
Decision Making Process ◽  
Final Decision ◽  
Investment Risk ◽  
Economic Market ◽  
Ore Deposit ◽  
Mining Projects

Geological-mining projects are usually associated with relatively high risk and uncertainty in many aspects, including geological, mining, ecologic, economic, market, legal and social conditions. A mineral deposit is an underground natural resource and hence it is difficult to unequivocally predict the actual results of its discovery. Depending on the extent of the resource, the operation of the mine can extend to a few decades. It is necessary to conduct investment actions in successive stages and to evaluate the results of the work stage by stage. This reduces the investment risk and facilitates the decision-making process. In this paper, the use of a specific kind of game, the so-called "game against Nature," is suggested before a final decision on deposit development is made. This methodology was tested on the example of one of the zinc-lead ore deposits in the Silesia-Cracow region. Apart from supporting the decision-making process, this methodology offers the means to evaluate further research and costs which may be incurred for obtaining supplementary information related to the ore deposit parameters, specifically its reserves.

Part I Host States, Mining Companies, and Mining Projects, 2 Mining Companies

2017 ◽  
Author(s):  
Burnett Henry G ◽  
Bret Louis-Alexis
Keyword(s):  
Significant Role ◽  
Mining Industry ◽  
Mineral Deposits ◽  
Mining Companies ◽  
World Today ◽  
The World ◽  
Mining Projects ◽  
Mining Exploration ◽  
P Mining

Mining companies are corporations or partnerships primarily involved in the exploration or production of metal or mineral deposits. There are approximately 2,100 mining companies in the world today, 100 of which are referred to as majors and 200 as mid-tier. Approximately 1,700 junior mining companies (referred to as juniors) constitute the vast majority of mining companies in existence today. These juniors are typically focused on mining exploration and often do not generate revenues. Finally, approximately 80 State-owned national mining companies (NMCs) play a significant role in the global mining industry. This chapter discusses each of these four categories of mining companies in detail, in relation to their respective focus, risks undertaken, and types of investment they attract and disputes in which they may find themselves involved.

scholarly journals A New Ore Grade Estimation Using Combine Machine Learning Algorithms

Minerals ◽  
2020 ◽  
Vol 10 (10) ◽  
pp. 847
Author(s):  
Umit Emrah Kaplan ◽  
Erkan Topal
Keyword(s):  
Mineral Exploration ◽  
Absolute Error ◽  
Drill Hole ◽  
Mineral Deposit ◽  
Machine Learning Algorithms ◽  
Feed Forward Neural Network ◽  
Grade Estimation ◽  
Rock Types ◽  
Geological Information ◽  
Mining Projects

Accurate prediction of mineral grades is a fundamental step in mineral exploration and resource estimation, which plays a significant role in the economic evaluation of mining projects. Currently available methods are based either on geometrical approaches or geostatistical techniques that often considers the grade as a regionalised variable. In this paper, we propose a grade estimation technique that combines multilayer feed-forward neural network (NN) and k-nearest neighbour (kNN) models to estimate the grade distribution within a mineral deposit. The models were created by using the available geological information (lithology and alteration) as well as sample locations (easting, northing, and altitude) obtained from the drill hole data. The proposed approach explicitly maintains pattern recognition over the geological features and the chemical composition (mineral grade) of the data. Prior to the estimation of grades, rock types and alterations were predicted at unsampled locations using the kNN algorithm. The presented case study demonstrates that the proposed approach can predict the grades on a test dataset with a mean absolute error (MAE) of 0.507 and R2=0.528, whereas the traditional model, which only uses the coordinates of sample points as an input, yielded an MAE value of 0.862 and R2=0.112. The proposed approach is promising and could be an alternative way to estimates grades in a similar modelling tasks.

scholarly journals A Multi-Criteria Decision Support Concept for Selecting the Optimal Contractor

2021 ◽  
Vol 11 (4) ◽  
pp. 1660 ◽  
Author(s):  
Ivan Marović ◽  
Monika Perić ◽  
Tomaš Hanak
Keyword(s):  
Decision Making ◽  
Decision Support ◽  
Project Performance ◽  
Decision Makers ◽  
Construction Project Management ◽  
Analytic Hierarchy ◽  
Conflicting Demands ◽  
Decision Making Problem ◽  
Scientific Approach ◽  
Hierarchy Process

A way to minimize uncertainty and achieve the best possible project performance in construction project management can be achieved during the procurement process, which involves selecting an optimal contractor according to “the most economically advantageous tender.” As resources are limited, decision-makers are often pulled apart by conflicting demands coming from various stakeholders. The challenge of addressing them at the same time can be modelled as a multi-criteria decision-making problem. The aim of this paper is to show that the analytic hierarchy process (AHP) together with PROMETHEE could cope with such a problem. As a result of their synergy, a decision support concept for selecting the optimal contractor (DSC-CONT) is proposed that: (a) allows the incorporation of opposing stakeholders’ demands; (b) increases the transparency of decision-making and the consistency of the decision-making process; (c) enhances the legitimacy of the final outcome; and (d) is a scientific approach with great potential for application to similar decision-making problems where sustainable decisions are needed.

Pythagorean fuzzy full implication multiple I method and corresponding applications

2021 ◽  
pp. 1-15
Author(s):  
TaiBen Nan ◽  
Haidong Zhang ◽  
Yanping He
Keyword(s):  
Decision Making ◽  
Modus Ponens ◽  
Pythagorean Fuzzy Set ◽  
Implication Operator ◽  
Continuity Properties ◽  
Fuzzy Implication ◽  
Decision Making Problem ◽  
Fuzzy Implication Operator ◽  
Degree Of Similarity ◽  
Fuzzy Modus Ponens

The overwhelming majority of existing decision-making methods combined with the Pythagorean fuzzy set (PFS) are based on aggregation operators, and their logical foundation is imperfect. Therefore, we attempt to establish two decision-making methods based on the Pythagorean fuzzy multiple I method. This paper is devoted to the discussion of the full implication multiple I method based on the PFS. We first propose the concepts of Pythagorean t-norm, Pythagorean t-conorm, residual Pythagorean fuzzy implication operator (RPFIO), Pythagorean fuzzy biresiduum, and the degree of similarity between PFSs based on the Pythagorean fuzzy biresiduum. In addition, the full implication multiple I method for Pythagorean fuzzy modus ponens (PFMP) is established, and the reversibility and continuity properties of the full implication multiple I method of PFMP are analyzed. Finally, a practical problem is discussed to demonstrate the effectiveness of the Pythagorean fuzzy full implication multiple I method in a decision-making problem. The advantages of the new method over existing methods are also explained. Overall, the proposed methods are based on logical reasoning, so they can more accurately and completely express decision information.

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