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By M. M. Hajdasinki

A project's rates of return (RORs)1, be it the internal rates return (IRRs) or one of the many IRR surrogates, frequently needs to be approximated. The success and efficiency an ROR- approximation procedure depend on the quality the approximation-initiating parameters, such as bounds or seed values (guesses). The existing approximation procedures commonly use bounds and guesses suggested by intuition rather than supported by mathematical considerations. This paper presents three mathematically founded ROR-bounding and eleven ROR-guessing approaches and examines their suitability by using examples of typical project cash-flowpatterns (CFPs). The calculated bounds and guesses not only improve the approximation efficiency, but also allow the process of the ROR discovery to be automated, thereby making it more convenient and reliable.

Jan 1, 1999

By J. C. Yannopoulos

The quest for a continuous copper smelting and converting process, which has been going on for a long time, has not as yet reached its objective. The most recent efforts for the development of a continuous copper?making process started about two decades ago. Among the contending proposed processes, four have been piloted and three of them are currently in operation: the WORCRA process., the NORANDA process, the MITSUBISHI process, the OUTOKUMPU process. The WORCRA process, after some long pilot plant tests, failed to develop as an industrial process: The NORANDA process, as currently operating, is a smelting process and not a continuous copper?making reactor as initially conceived. The MITSUBISHI, although the only continuous process, has not been widely accepted. The OUTOKUMPU process can be applied only to a low iron concentrate feed and co?produces blister and high in copper slag. The thermodynamics of these "continuous" systems and the practical problems of their industrial application are reviewed and discussed. The achievement of efficient and inexpensive environmental control should' be the primary objective of any new process development. A review of the environmental problems of the copper industry indicates that the quest for a continuous smelting and converting furnace should be intensified.

Jan 1, 1983

By Y. Rajpal

The Hedley and Grant pillar strength formula is widely used within the South African mining industry to calculate pillar strengths in bord and pillar mining layouts, and is currently being used at Bathopele Mine. Bathopele is an operation of Anglo American Platinum near Rustenburg, mining the UG2 reef at depths ranging from 40 m to 300 m below surface. The formula includes a parameter K, which is a downrated uniaxial compressive strength value of the rock, used to calculate the strength of a pillar. At Bathopele Mine, for the shallower areas Less than 150 m the value was 33 MPa, but this was increased to 44 MPa due to the fact that rock mass conditions improved and there were no incidence of failure in the shallower areas. Underground observations showed pillars to be stable with no signs of failure, and it was questioned whether the design was not still too conservative, resulting in sub-optimal extraction ratios and consequently a loss of revenue to the mine. A trial mining section was started at the mine where the pillars were reduced from 6 m x 6 m to 5 m x 5 m and the pillar behaviour was monitored for the onset of failure. Numerical modelling was conducted using the TEXAN code to back-analyse pillar stresses in order to find a more realistic value for K. Results from the trial section indicated that the pillar design was in fact too conservative, and the value for K was adjusted to 54 MPa for future designs. This paper details the findings from underground monitoring and numerical modelling results, and includes details for further calibration of the K value in order to further optimize the extraction of the orebody.

Jan 1, 2012

Objective To develop safety training tools for mine health and safety trainers that fill gaps in currently available materials and help capture the wisdom and knowledge of “expert miners.” Background NIOSH began a series of stakeholder meetings in 1998 to determine what research was needed to improve miner health and safety. One of the more common concerns among stakeholders was a critical lack of appropriate training materials applicable to metal/nonmetal mining. Participants provided many insights into what effective training materials should include and how materials could best reach both new and experienced miners. The most important factors were that any materials be realistic and interesting and that some way must be found to capture the wisdom of expert miners before they retired. Approach NIOSH researchers chose videos as the best means of achieving these training goals. Over the past 3 years, NIOSH has produced three training videos that present information on safe work practices in underground mines: handling explosives, recognizing roof hazards and using proper scaling techniques, and installing ground supports. The last two videos, “Rock Falls—Preventing Rock Fall Injuries in Underground Mines” and “Miner Mike Saves the Day—or—Ground Support…It’s Important,” have won Alice Hamilton awards, NIOSH’s highest recognition of Excellence in Occupational Safety and Health, in the Educational Materials category. Two new videos are now being released. Both of these videos were shot completely in operating underground hard-rock mines and used expert miners to tell the story. Hazards In Motion The first, “Hazards in Motion,” deals with the dangers of working around mobile equipment in an underground mine. Ben, a new trainee, refuses to pay attention in his 40-hour New Miner Training class, and when the class takes its first trip underground, he wanders off and finds himself in many dangerous situations. He encounters many experienced miners who both chew him out for his unsafe attitude and give him advice and information on how to survive around mobile equipment. Many common pieces of equipment are shown, including haulage trucks, LHD=s, tracks and trains, slushers, skips and hoists, and air doors. The dangers of ignoring signals and of horseplay are also included. After nearly losing his life numerous times, Ben learns his lesson with the help of the Safety Angel, an experienced miner who looks suspiciously like his safety trainer. Ben’s Safety Angel saves his life repeatedly, teaches him how to work safely around these common conveyances, and introduces him to experts who have specific safety tips. Ben learns the error of his ways and vows to be the safest miner in the mine. “Hazards in Motion” is approximately 30 minutes long. Hidden Scars The second video is the first in the NIOSH “Expert Miner” series. “Hidden Scars” is a narrative interview with Don Capparelli, a miner and supervisor at the Sunshine Mine in north Idaho. This video captures the story of a fatal rock burst in May 1994, when Don was seriously injured and his long-time partner, Jimmy Findley, was killed. “Hidden Scars” is a very powerful story. Don Capparelli shares the physical and emotional pain he lives with daily as he relates the events leading up to the rock burst that took the life of his best friend and partner. This video is an excellent reminder of the human cost of uncontrolled accidents and the hidden scars that survivors must deal with for the rest of their lives. It runs approximately 25 minutes.

Jun 1, 2001

By Jameel Menashi

Aqueous solutions of Na2Cr04 can be reduced with CO to produce hydrous Cr203 and NaHCO3/Na2CO3. CH3OH, HCOO and HCHO in the presence of CO2 also reduce Cr 6+ and yield similar products. It is shown that the rate of Cr6+ reduction can be represented by the expression -d[Cr6+]/dt=k[Cr6+)1/2[R] where [R] is the aqueous phase concentration of CH3OH, HCOO- or CO. With these three reductants, the activation energies for the reduction processes are comparable and are of the order of 100 kJ/mole. Rapid reduction rates are attained at temperatures in excess of 220°C and, with these three reductants, a green acid-insoluble readily filterable hydrous Cr203 is formed. With HCHO significant reduction of Cr6+ occurs at about 80-100°C and an acid-soluble violet modification of hydrous Cr2O3 is formed. The reduction process is reasonably selective: solutions of Na2CrO4 contaminated with Mo6+ and W6+ can be reduced to yield a Cr2O3 product with significantly reduced contaminant levels. These findings are utilized as a basis for a process for recovering chromium from secondary source materials.

Jan 1, 1984

By J. Osterberg

A new device has been developed for load testing driven piles and drilled shafts which consists of an hydraulic jack or bellows which has a telltale rod fastended to the bottom. The rod extends upward to the surface through a pressure pipe. When pressure is applied, the jack or bellows expands, applying an equal upward and downward load at the bottom. The downward movement at the bottom is indicated by the rod and the upward movement is indicated by the movement at the top. Thus, upward and downward load-deflection curves can be drawn. As load increases, failure will occur either in end bearing or friction. Results of field installations are described. Total loads of up to 1,100 tons metric have been used. The method obviates the need for the reaction load required for the conventional pile loading test and separates friction and end bearing. It is especially advantageous for use over water, in crowded spaces and for inclined piles.

Jan 1, 1989

By Satyajit Vaidya, Rudolph Frizzi, Sandy Larimer

"This paper presents a case history in design and construction of a deep foundation system that included high-capacity open-ended driven piles constructed to support a high-rise building in Manhattan, New York. The project site is bordered by existing buildings, active streets, and critical public transportation infrastructure, which were considered in the new building’s deep foundation and seismic design. This paper focuses on driven pile foundation design and installation through relatively loose soil deposits. Unique design aspects included seismic design considerations, and pile splice design for open-ended steel pipe piles subject to significant uplift and lateral loading. Unique construction aspects included quality assurance of open-ended steel pipe pile splices, and uplift and lateral load testing of driven piles installed in close proximity to other foundation elements installed for the project.SITE CONDITIONS AND SUBSURFACE CONDITIONSThe project site is located in Manhattan, New York, and is bordered by existing buildings, active streets, and critical public transportation infrastructure that is located about 60 feet from the site. The existing sidewalk grades around the site are between about el 4 and about el 13; elevations are referenced to the North American Vertical Datum 1988 (NAVD88).Subsurface conditions at the site generally consist of successive strata of historic fill, former river bottom deposits consisting of compressible clayey soils, and medium dense to dense sand, overlying mica schist bedrock. A generalized subsurface profile is shown in Fig. 1. The historic fill stratum is about 10 to 45 feet thick, and generally consists of loose to medium dense sandy soils with varying proportions of silt, gravel, and miscellaneous debris such as brick, concrete, and glass fragments. The underlying former river bottom deposit stratum is up to about 15 to 20 feet thick, and generally consists of very soft to very stiff clay and lenses of very loose to loose sand. Medium dense to dense sand was generally observed below the historic fill and former river bottom deposit strata and overlying bedrock. Top of bedrock was generally observed at about 80 to 105 feet (i.e. at about el -75 to el -100), except in the southeastern portion of the site where the top of rock was observed as deep as about 140 feet (i.e., at about el -135). Groundwater levels typically ranged between about el 1.5 and el -0.5."

Jan 1, 2016

By Lin-fang Shen, Shao-jun Li, Zhi-liang Wang

"The meso-structure of real soil consists of numerous particles with different sizes, while the traditional reconstruction method of quartet structure generation set (QSGS) produce relatively uniform soil particles resulting in significant discrepancy between the actual structure and reconfiguration model. In order to remedy the deficiency, the QSGS is improved by considering the influence of porosity and autocorrelative function of soil, which make the models closer to the real soil. Based on the reconfiguration model, Lattice Boltzmann method is combined in the algorithm to conduct further simulation of fluid flow in soil pores. The D2Q9 model is applied to construct the two dimensional model for simulating mesoscopic seepage field of saturated soil by setting the non-equilibrium extrapolation scheme at the inlet and outlet boundary, and the bounce-back scheme at the soil particles boundary as well as the left and right boundary. According to the case study, the proposed program is realized to simulate mesoscopic seepage field of reconstructed soil with constant inlet seepage velocity. The results show that the seepage direction of soil is along the passage with good connectivity, therefore the permeability is controlled by these passages. The seepage velocity in such channels is faster than in bad connectivity channels. Even if the channel has larger pores, the seepage velocity is still small. INTRODUCTIONUnderstanding the seepage mechanism in porous materials is significant in both theoretical and engineering problems. As a typical porous media, soil consists of solid particles and voids, which form connected channels allowing water to flow through. Such seepage in soil exists widely among geotechnical project of slope, foundation pit, and tunnel, etc. Meanwhile, a number of engineering accidents are caused by limited knowledge of seepage characters in soil (Huang, 2006; Liu, 2013). The conventional method in describing seepage features mostly based on the parameter of permeability, which is a macro statistic mean evaluating the whole connectivity of soil. Obviously, this parameter cannot exactly reflect the details of how water flows through the inner soil structure, especially the flow velocity in local mesoscopic area, hence is unable to represent the actual seepage properties. Therefore, it is necessary to develop mesoscopic approaches to fully study the seepage mechanisms."

Jan 1, 2015

By Hugh M. Wolfin

This Information Circular is an abstract of a manuscript which was completed in June 1933, by Mr. Hugh M. Wolflin, formerly of the U. S. Bur eau of Mines. This abstract has been prepared by Charles Will Wright for presentation at the February meeting of the American Institute of Mining and Metallurgical Engineers in New York. It has been necessary to omit many of the details and most of the cost data and tables, as well as the illustrations in the original manuscript. As the use of airplanes in mining developments is making such progress and as a publication on this subject to be of greatest value should include the most recent information, it is unfortunate that, due to a lack of printing funds, it has not been possible to publish this manuscript. The purposes of Mr. Wolflin's paper are: (1) To describe briefly what has been accomplished in some outstanding examples by the use of aircraft in the mining and petroleum industries, (2) To record costs, (3) To present available information and suggestions to assist in solving future air-transportation problems in the industries under consideration.

Jan 1, 1934

By J. Gautam, T. Ong, W. E. Wallace, M. Keane, S. Xing, J. Harrison

"INTRODUCTIONOrganics extractable from respirable diesel exhaust soot particles by organic solvents have been known for some time to be direct acting frameshift mutagens in the Ames Salmonella typhimurium histidine reversion assay (Huisingh, et al). Upon deposition in a pulmonary alveolus or respiratory bronchiole, respirable diesel soot particles will contact first the hypophase which is coated by and laden with surfactants. To model interactions of soot and pulmonary surfactant, we dispersed soots in vitro in the primary phospholipid pulmonary surfactant dipalmitoyl glycerophosphorylcholine (lecithin) (DPL) in physiological saline. We have shown that diesel soots dispersed in lecithin surfactant can express mutagenic activity, in the Ames assay system using S. typhimurium TA98, comparable to that expressed by equal amounts of soot extracted by dichloromethane/ dimethylsulfoxide (DCM/DMSO)(Wallace, et al, 1987). Here we report additional data on the same system using additional exhaust soots and also using two other phospholipids, dipalmitoyl glycerophosphoryl ethanolamine (DPPE), and dipalmitoyl phosphatidic acid (DPPA), with different ionic character hydrophilic moieties. A preliminary study of the surfactant dispersed soot in an eucaryotic cell test system also is reported.MATERIALS AND METHODSSoots D4 and D6 were collected at two different times as scrapings from the exhaust pipe of a diesel tractor-trailer immediately after the engine was stopped. Surfactant dispersions were made by ultrasonic probe sonicating 25 mg of commercially obtained DPL, DPPE, or DPPA into 1O ml of O.85% physiological sterile saline (PSS) for 10 min at 40 watts power. For surfactant dispersions, 2.5 mg soot was mixed into 2.5 ml of the appropriate phospholipid dispersion. Mixtures were sonicated by 40 watts sonicator probe for one min, then incubated in the sonicator water bath for 30 min at room temperature; the mixture was then incubated for one hour at 37C while being rotated continuously. Dilution series were made with saline. For solvent extraction, 2.5 mg soot was mixed into 2.5 ml of DCM and incubated in a sonicator water bath for 30 min at room temperature. The sample was then mixed with 2.7 ml DMSO, placed in a dry bath at 45C, and the DCM evaporated under a stream of nitrogen gas until 2.5 ml of liquid remained. Ames salmonella/microsome assay utilizing TA98 for frameshift mutation was used for mutagenicity testing, with and without S9 activation, as described by Ames et al (1975). Unfiltered sample extractions or dispersions were preincubated with tester cells for 90 min at 37C : 0.1 ml of sample was mixed with 0.5 ml of PSS, or of S9 mixture, and 0.1 ml of an overnight TA98 culture incubated samples were then added to 2 ml of top agar supplemented with biotin and a trace amount of histidine, and overlayed onto Vogel-Bonner minimal media plates. After 48 hours incubation at 37C, revertant colonies were counted. Solvent controls were DMSO, DPL, DPPE, DPPA, and saline. Positive controls were trinitrofluorenone (1 ug/plate), for samples not treated with S9, and 2-aminoanthracene for S9 treated samples (2.5 ug/plate). All samples were assayed in duplicate. Sister chromatid exchange (SCE) assay was performed, following Lett, et al (1981), using V79 cells, of Chinese hamster pulmonary fibroblast origin. Stock diesel sample suspensions were made as 10 mg soot/ml DPL suspension, or 20 mg soot/ml in DMSO. Aliquots of these soot preparations were added to 15 ml of culture medium per sample flask to result in concentrations of 25, 50, and 75 ug soot/ml medium. After 12 hours incubation, 200 ul of 25 uM 5-bromodeoxyuridine (BrdU) was added to each flask. After another 35 hours incubation, 200 ul of 10 ug/ml colcemid were added; and the cells were harvested three hours later. Cells were swollen by hypotonic saline, and fixed twice with methanol/acetic acid, and burst on microscope slides. Cells on the slide were stained with Hoechst 33258, exp"

Jan 1, 1990

By Luis Porras T.

La explotación de minas de cielo abierto requiere de la estabilidad de los taludes puesto que estos aseguran el eficiente minado de los bancos inferiores y garantizan las condiciones para los servicios auxiliares. Por ello, el presente trabajo señala el método de voladura controlada como el más adecuado para la estabilidad del talúd en explotaciones de límites finales. Dentro de este método, el criterio de velocidad pico de partícula refiere el grado de vibración producido en el terreno por los disparos, ajustándose en el cálculo de carga de los taladros. Sin embargo, en el caso de la mina Toquepala y por razones de índole estructural, el método de minado se aplica de forma moderada la zona Este. Asimismo las condiciones de este método quedan supeditadas a las condiciones geológicas, la infraestructura que se desea proteger y a los servicios auxiliares a complementarse.

Aug 26, 1988

By Hugo Herreras

Recientes estudios en la ingeniería de voladura de rocas señalan herramientas modernas, como es el caso del sistema JKSimBlast, que han permitido a Shougang Hierro Perú avanzar en la ingeniería del diseño de voladura de rocas desde el diseño original hasta el actual. En ese sentido, el presente texto describe el sistema del diseño, modelamiento, simulación y administración de voladura en la integración de la empresa Shougang Hierro Perú S.A.A. El diseño consiste en modelar cálculos complejos para realizar las modificaciones apropiadas en el diseño y lograr una voladura que convierta al macizo rocoso in-situ en un muckpile de forma apropiada, suelto, con una fragmentación adecuada para los procesos subsecuentes como carguío, acarreo, chancado, molienda etc y que no cause daño por vibración e impacto por presión de onda aérea al entorno de la mina.

Sep 19, 2006

By Wanderson Silva Rodrigues, Paulo Adão Marinho dos Santos, José Antonio Silva Souza, Luis Alves Venancio, Emanuel Negrão Macedo

"1 AbstractThe production of alumina from bauxite using the Bayer process generates 0.7 to 2.0 ton of the residue known as red mud per ton of alumina. This material has no large scale current use and is usually stored. This paper shows that it can be used in a suspension with water as a gas effluent cleaner with high efficiency to remove SO2. It can substitute other materials currently used reducing the overall environmental impact and potentially reducing the cost of gas treatment.2 IntroductionThe production of millions of tons per year of alumina around the world generates from 0.7 to 2.0 ton of the residue known as red mud per ton of alumina. The vast majority of the red mud is stored in large sealed lakes. Due to the high reactivity this material is considered dangerous and currently there is no operating process capable of reuse all the material produced at any refinery. These lakes after filled of solid material eventually have the surface revegetated. In any cases they will remain as an environmental passive and need monitoring for decades. The search of industrial processes that combine the cleaning of gas effluents emission and reuse of these residues can contribute to the reduction of the overall impact of the alumina production process.The main objective of this work is to study the efficiency of the red mud as alternative raw material for the control of emissions of SO2 in combustion gases. Usually this is made through alkaline solutions of CaCO3 or NaOH in absorbing equipments like spray towers or packed column. This project main objective is to study the reaction of the SO2 with a suspension of red mud and water in order to obtain the basic parameters to design equipment capable of process this reaction on a pilot scale. With that goal compositions of red mud on spray were processed with flow of gas containing SO2 with concentration similar to the exhaust gases of the combustion process of the refineries."

Jan 1, 2011

By Fred N. Kissell

Air recirculation caused by dust scrubbers at coal mine working faces was examined by the Federal Bureau of Mines with regard to the potential hazards caused by a possible buildup of methane gas. A theoretical analysis indicated that there was no apriori way to predict the effect of scrubber recirculation on methane concentration levels. Experiments conducted in a full-scale model of a working face area indicated that methane levels were dependent to a great extent on the location of the scrubber exhaust, but that the scrubber recirculation did not substantially increase the methane concentration above those levels that would have prevailed were the scrubber not in operation. An analysis of two underground scrubber trials showed that the scrubbers had no significant effect on methane levels, and a review of explosions attributed to recirculation showed that these were characterized by a lack of fresh air as well as recirculation. It was concluded that high methane levels are due more to a lack of fresh air than to recirculation.

Jan 1, 1975

By D. R. Derry

"IT WOULD TAKE a braver man than I to try to forecast the future of mining exploration far into Canada's second century. Even to look ahead ten or twenty-five years we must review the figures of the fairly recent past -and I have found this quite a time-consuming but interesting job -in order to find trends and project them into future years. The trends to which I will refer are: firstly, the annual expenditure on exploration and its relation to value of output; secondly, the discovery rate and its relation to production initiations; and thirdly, the methods by which discoveries have been, and will be, made. Exploration Expenditures Figures on the annual expenditure on mining exploration in Canada have been collected and published for some years by the Do-minion Bureau of Statistics. These have some unavoidable limitations; e.g., in the varying definition between one company and another of what comprises ""Exploration"" and in the difficulty of getting complete returns. However, although the actual figure for a given year may be subject to question, I believe that the relative figures from one year to another are reasonably reliable. There is also a lapse of time between the collection of data and publication -the last published figures are for the year 1963. In bringing the figures up to date to 1966 I have canvassed eight of the larger mining and exploration companies and obtained their figures for 1963 to 1966 inclusive, and then averaged these for each year and applied the progression to the 1963 figures."

Jan 1, 1968

By D G. Jefferies

This paper covers National Grid's role in the electricity market, the growth of competition in both generation and supply in that market, and the resulting impact on fuel usage, prices and the environment. It also considers other, external influencing factors on the electricity supply industry, as well as the growing trend towards globalization.

Jan 12, 1997

By A. L. Hornbaker

Colorado has recorded more than 100 years of industrial mineral production. Much of the state's history, culture, and economy is based in mining, but the industrial minerals and construction materials comprising the nonmetallics sector of the industry very often are overlooked or overshadowed by mineral fuels and the metals. Indeed, many of these materials find use in seemingly unimportant industrial applications essential to our economy and life style and yet are not so recognized by the consumer. Unlike many other mineral resources, the numerous industrial minerals occur in many different and often exotic geologic environments, some of which are characteristic only of the western states. In Colorado only a few of these minerals have continued production through the years; many saw only "boom" periods or other critical times of need, such as the world wars. The changing needs and demands of our society in the 1980s will stimulate yet another era of intensive activity in our industrial minerals storehouse. Researchers are finding new uses and applications for these materials in dealing with the energy crisis and fuel shortages, the need to develop domestic mineral reserves of all kinds, and the goals of reuse and recycling. Some of Colorado's little-used and unused industrial minerals hold extraordinary promise in solving some of these problems on the regional and national levels. In this paper we will look at the history of development of Colorado's more prominent nonmetallics and especially at current research on and future potential of several other commodities among which Colorado contains the largest known reserves.

Jan 1, 1980

By Malcolm J. Robinson

Over 80% of Australia's population lives within 200 km of the coast, 70% in 10 major coastal cities. Potential cement raw materials are widely distributed but deposit size, quality, transport, market and environmental considerations are important in determining economic value. Major production locations are in a variety of geological environments ranging from Lower Paleozoic crystalline limestones to Tertiary and Recent polyzoal limestones and limesands, both onshore and offshore. Raw material transportation is by road, rail, sea, aerial ropeway and pipeline; road/rail transportation of the finished product is traditional but movement by sea of clinker and cement is increasingly a feature of the industry.

Jan 1, 1982

By R. L. Rankin

The program objective was to conduct surveys of respirable dust concentrations in coal mining operations at locations outby the working face. The results of these surveys were directed toward 1. identifying outby dust sources, 2. evaluating the severity of the major dust sources, 3. establishing dust sampling frequency, 4. establishing dust sampler locations, and 5. assessing the? areas of influence of the dust sources. The study included dust sampling of only nonhigh risk personnel and areas at six dif-ferent mines. Thirteen continuous mining, four longwall and two conventional mining sections were sampled. The severity of outby respirable dust sources such as load points, runways, dump points, beltways, transfer points and main haulage operations were characterized and areas within the mine were ranked according to severity. Information on engineering controls was also acquired. Guidelines for implementing a dust sampling program are presented and include sampler locations, ventilation surveys, dust surveys, effects of shift-to-shift variations, and sampling frequency.

Jan 1, 1980

By Aldin Ardian, Mustafa Kumral, Jagjit Singh

Risk assessment of mining projects is a requirement in the mineral industries. In this process, many risk variables are timedependent, and the only available data are historical time series. Moreover, in the case of a multivariate scenario, conventional forecasting methods fail to capture conditional dependency across the variables, which is important when there is an underlying causal relationship that needs to be modeled for accurate project evaluation. Thus, we investigated the use of copulas to capture the conditional distribution of the factors involved in a mine risk assessment study. We employed a multivariate copula-based time-series approach to model several uncertain variables. The Autoregressive Fractionally Integrated Moving Average - Generalized Autoregressive Conditional Heteroscedasticity (ARFIMA-GARCH) model was used for the conditional mean and copulas were used to model the error distribution, thus capturing the collective variation and dependence pattern across the variables. The method was implemented to model gold prices, copper prices, and the 10-year US Treasury bond yields and to determine the project’s net present value and probability of being economically feasible. The proposed approach can be used for cases where simulation of multivariate time-series is conducted.

Apr 13, 2021