How to develop an optimum metallurgical project

Altman, K. A. ; Smith, R. W. ; Taylor, D. L.
Organization: Society for Mining, Metallurgy & Exploration
Pages: 7
Publication Date: Jan 1, 2002
The importance of metallurgical information in reaching appropriate decisions during the development of mining projects is demonstrated. A financial analysis is calculated using discrete system simulation. The results are compared to the results of a traditional sensitivity analysis. The traditional analysis is shown to have the potential to overestimate the value of mining projects. The type of statistical distribution used in a random number generator affects the results significantly. The statistical method of analysis provides insight into the amount of metallurgical testing needed and provides verification of how representative the samples are.
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