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By J. L. Collins

"Une recherche debutee en 1987 tente de cerner divers éléments ayant un impact sur la productivite miniére, de facon à améliorer la planification des operations souterraines. II a été possible de recueillir jusqu'à trente variables dans sept opérations minières differentes du Nord-Ouest québécois. Cette présentation rend compte de quelques résultats préliminaires obtenus à l’une d'entre elle. Entre autres, elle montre comment une association entre une analyse de régression multiple et un logiciel d'optimisation (OPTIMUL) peut servir à une application particulière de la planification d'une opération minière du Québec. Plus spécifiquement, la présentation montre comment une quantité appropriée de ANFO et de TOVEX peut maximiser la quantilé de minerai cassé, minimiser les couts de sautage ou encore minimiser les coûts d'explosifs par tonne de roche cassée, en se basant sur une série de contraintes réalistes provenant de la mine.ABSTRACTA study, underway since 1987, tries to evaluate factors affecting mines' productivity. Information has been collected from seven underground mines in Quebec and this paper shows preliminary results from one. In particular, it shows how a combination of multiple regression analysis, mathematical programming and a set of realistic mine constraints can be used for a particular application of mine planning. More specifically, the paper shows a parallel between maximizing production of tons of broken are, minimizing explosives costs or minimizing the costs of explosives per ton of broken are by an appropriate selection of ANFO and TOVEX quantity of explosives. Finally, the paper shows that minimizing the costs of explosives per ton of broken are is the best alternative to follow providing a special optimization program can be set up."

Jan 1, 1990

By Ertugrul Alp

Alp & Associates - Who We Are ?? Canadian consulting company (1999-?) ?? Principal Consultant: Dr. Ertugrul Alp, P.Eng. ?? Over twenty-five years experience serving the chemical, mining, pulp & paper, energy, steel, and transportation industries, and government clients. ?? Ph.D. in Mechanical Engineering, University of Waterloo ?? Experience: ?? Westinghouse Canada, Atomic Power Division, Manager, Analysis and Modelling ?? Concord Environmental (later Bovar Environmental), Principal, Manager, Air Quality and Risk Assessment ?? Arthur D. Little, Associate Director, Safety & Risk Practice Leader in Canada ?? Member: NATO CCMS Pilot Project on Disaster Preparedness (1991-1993) ?? Chair: MIACC Risk Assessment Expert Committee, 1995-1999 ?? Member: MIACC Committees on Land Use Planning and Pipelines (1993-1998) ?? Member: CSA/Q850 Risk Management Standard Technical Committee ?? Member: CSA/Z1002 OHS Risk Assessment Standard Technical Committee ?? Member: CCPA/CSChE Process Safety Management Committee (1999-?) ?? Member: ISO-31000 Risk Management Standard Canadian Advisory Committee ?? Chair: CSChE Process Safety Management Committee (2005-2006) ?? Chair: CSChE Expert Committee on Risk Assessment (1999-2005) ?? CSChE 2007 Process Safety Management Award

May 1, 2008

By James D. Bittner

Separation Technologies, LLC (ST) has developed a processing system based on triboelectric charging and electrostatic separation that provides the mineral processing industry a means to beneficiate fine materials with an entirely dry technology. The environmentally friendly process can eliminate wet processing and required drying of the final material. The process requires little if any pre-treatment of the material other than grinding and operates at high capacity ? up to 45 tonnes per hour by a compact machine. Energy consumption is low, approximately 1 kWh/tonnes of material processed. Since the only potential emission of the process is dust, permitting is typically relatively easy. In contrast to the other available electrostatic separation processes that are typically limited to particles greater than 75 µm in size, the ST belt separator is ideally suited for separation of very fine (<1 µm) to moderately coarse (500 µm) materials with very high throughputs. The triboelectric particle charging is effective for a wide range of materials and only requires particle ? particle contact. The small gap, high electric field, counter current flow, vigorous particle-particle agitation and self-cleaning action of the belt on the electrodes are the critical features of the ST separator. The high efficiency multi-stage separation through charging / recharging and internal recycle results in far superior separations and is effective on fine materials that cannot be separated at all by the conventional electrostatic techniques. Since 1995, this triboelectric process has been extensively used for the beneficiation of coal fly ash with eighteen separators in place and over 100 machine-years of operation at locations in the US and Europe. The technology has been also successfully applied to the beneficiation of a variety of minerals including calcium carbonates, talc, and potash.

Nov 1, 2011

By Gordon F. Scott

This paper considers a recently completed hoist project for IAMGOLD. Called the Westwood project, this mine utilises some of the largest drum hoists supplied to the North American Market in recent times. This project is an example of where many of the design features discussed the associated paper, (Robotham, 2011) were incorporated. Director of sales and marketing, Gordon Scott has worked at DavyMarkham for over 30 years in a variety of roles starting as a mechanical design engineer, moving to project management before joining the sales department. Gordon has an honours degree in mechanical engineering from Leeds University.

May 1, 2011

By Ernie Doell, Trung Nguyen

"In early 1995 Cluff Mining commissioned a newly constructed high density tailings thickener at its Cluff Lake uranium mill. The 85 ft diameter high density thickener is one of the first of its kind in North America, and incorporates the novel paste technology in its design to produce densified (in the range of 60 -65% solids) mill tailings suitable for stable deposition in the tailings management area. This paper discusses the impetus behind the installation of such an unconventional thickener, and the many trying experiences in making it operational.IntroductionCluff Mining, a wholly owned subsidiary of Cogema Resources Inc., is the operator of a uranium mine and mill complex at Cluff Lake which is located in northern Saskatchewan. Since 1980, the company has developed and mined out several different ore bodies within the Cluff Lake region for the production of uranium concentrates, commonly known as yellow cake. Based on the known ore reserves, the Cluff Lake operations are projected to last till the early 2000's.Tailings from the Cluff Lake mill have been discharged to a tailings management area consisting of a tailings pond and two facilities for primary and secondary treatment systems. The tailings pond has an impervious bentonite lined dam, and it is divided into a solids and a liquids holding areas. Until the beginning of 1995, the mill tailings were discharged in two separate lines to the solids pond; one line carried the slurry residue of 45-50% solids (w/w) from the CCD circuit, and the other discharged raffinate tails containing less than 1 % (w/w) gypsum precipitate. Supernatant in the solids pond is treated in the primary treatment system prior to discharging to the liquids pond. Figure 1 shows the site plan of Cluff Lake tailings management area.It has been estimated that by the end of 1995 the solids pond would be filled to about 60% of its design capacity, and probably would be full before the year 2000. Therefore, Cluff Mining had to consider a more efficient tailings disposal method that could extend the service life of the existing Cluff Lake tailings management area. A high density tailings thickener was believed to be the most practical and economical system for tailings disposal at Cluff Lake mine."

Jan 1, 1996

By Benoît Demers

Dans ses opérations de traitement de concentré de zinc, l?usine de Zinc Électrolytique du Canada à Valleyfield génère un résidu minier appelé « jarosite ». Jusqu?en 1998, le jarosite était transporté hydrauliquement dans des bassins construits en argile. Le jarosite sédimenté possède une consistance très molle (impossible de circuler à pied sur le résidu consolidé) avec une eau interstitielle acide contenant des teneurs élevées en métaux. Ces caractéristiques particulières au jarosite rendaient très coûteuses la construction et la fermeture des bassins de résidus. En 1998, Zinc Électrolytique du Canada a implanté un nouveau procédé, développé chez Noranda, dont le principal objectif était de stabiliser chimiquement et physiquement le jarosite. Un nouveau concept de déposition a été élaboré pour le nouveau résidu minier appelé « jarofix ». Les grandes caractéristiques du nouveau procédé et du concept de déposition sont : ? Le jarosite est lavé et déshydraté à l?usine avec un système de filtre; ? De la chaux, du ciment et de l?eau sont ajoutés pour former le jarofix; ? Le jarofix est transporté par camions jusqu?à l?aire d?accumulation; ? À l?aire d?accumulation, le résidu est géré selon un concept d?empilement. L?élaboration du concept d?empilement et de l?aire d?accumulation devait tenir compte des caractéristiques de déposition du jarofix, de sa résistance à l?érosion hydrique et éolienne, de la gestion de l?eau de ruissellement, de la faisabilité de construire les digues de ceinture en utilisant du jarofix durci et de la nécessité de restaurer progressivement l?aire d?accumulation. Le déchargement du jarofix se fait à partir d?une rampe qui progresse avec une pente ascendante pour développer un front de déversement de plus en plus haut. La hauteur du tas de jarofix atteindra 30 m au centre du site. L?aménagement initial de 1998 a inclut une digue d?amorce de 3 m de hauteur, une rampe de déversement de 8 m de hauteur et un bassin pour la gestion de l?eau de ruissellement. Les propriétés du jarofix consolidé dans l?aire d?accumulation sont déterminées annuellement. Le jarofix durci possède la consistance et la résistance d?une argile très raide. Sa conductivité hydraulique est similaire à celle d?un silt et il résiste bien à l?érosion éolienne. Après trois années de déposition, la température du jarofix au milieu du dépôt demeure élevée. Le jarofix durci est facile à excaver et à compacter, ce qui en fait un excellent matériau pour la construction des digues de ceinture en périphérie du site.

Nov 1, 2002

By R. Samuels, R. Klimpel

"IntroductionLaboratory and industrial grinding tests have shown that the process of size reduction of metal containing ores can be significantly influenced by chemicals added to the slurry being ground.,The terms grinding aid or grinding additive refer to a substance which, when mixed into the mill contents, causes an increase in the rate of size reduction. The increased rate can be used to grind a higher feed rate to the desired product size or it can be used to produce a finer product size at a fixed rate. Whether the use of a grinding aid is justified in any given situation depends on the cost of the substance versus the improvement of output or product quality obtained with its use.A wide variety of grinding additive mechanisms have been suggested in the general mining literature (1,2,3,4,5,6,7). The prevention of particle agglomeration, slurry cushioning of grinding media impact, grinding media coating, changing the strength of macro porous rocks, and chemical adsorption on flaw surfaces to change bonding forces and surface energy have all been suggested. More recently, some grinding additive work has been carried out (8,9,10,11) which suggests that the use of efficient chemicals to control the fluidity of dense slurries is a viable economic approach to achieve improved grinding rates. These increased grinding rates are achieved with no increase in power to the grinding mills and apparently with no increase in media consumption costs. Unlike much of the previous work with grinding additives, this recent work is accompanied by a rather complete engineering characterization and prediction of performance capability. The chemicals involved were chosen so as to efficiently control the viscosities of slurries under conditions of high shear yet not adversely affecting flotation, flocculation, and other downstream surface chemistry operations."

Jan 1, 1979

By R. B. Throndycraft

"1. Belt-Drop Agglomeration Preferred at Heap Leach Operations. The agglomeration method now preferred at heap leach operations utilizes belt-drops along conveyors. Belt-drop agglomeration is being designed into numerous upcoming heap leach operations. It offers substantial capital cost savings over previously favored drum agglomerators. It has such significant operating and maintenance advantages that some drum agglomerators have been retired in favor of belt-drops.The majority of heap leach operations are now built with crushing included in the flowsheet. If crushing is included, belt-drop agglomeration can be added for almost no cost. The agglomeration equipment is simply a few conveyor transfers, designed to provide the tumbling and rolling action which forms the agglomerates. Controlled water sprays are needed at each of these agglomeration transfers. Cement or lime is added as a binder, to stabilize the agglomerates. This reagent is also needed to raise pH to safe operating levels.Addition of the pH control reagent before stacking the ore offers a reagent cost benefit. In the belt-drop mixing technique, the ore is intimately mixed with the lime (or cement). After stacking on the heaps, when the cyanide solution is sprayed onto the high-ph ore, very little cyanide is consumed. Without the pre-addition of lime or cement, the leach solution is sprayed onto neutral ore. The mixture of high-pH leach solution and neutral pH ore causes the solution pH to drop, releasing cyanide gas. This release is minor from a safety viewpoint, much less than dangerous, but the gas release is a costly waste of the cyanide reagent. Pilot-scale comparison tests were made at Pinson. Ore pre-treated with lime or cement showed 30% less cyanide consumption than untreated ore."

Jan 1, 1989

By Hossein Aminian, Daniel Hodouin, Claude Bazin, Claude Jacob

"Solvent extraction followed by electrowinning (SXEW) is an economical option for the processing of low grade and oxidized copper ore. Phenomenological models were developed to simulate the copper solvent extraction and the electrowinning processes. The two models were linked together to make a SX/EW simulator. The simulator is used to predict the operation of the mines Gaspe pilot plant put in operation in 1996. Results confirm the potential of the simulation that would subsequently be used for student training, process optimization and to assess the performances of control strategies.INTRODUCTIONSolvent extraction followed by electrowinning (SXEW) has become in the last two decades a key process for the recovery of copper from solution obtained by leaching low grade copper ore. Several operations have been commissioned in North and South Americas in the last decade (Arbiter, 1994). In Canada, Gibraltar Mine (Scott, 1991) operates a SX plant followed by electrowinning (EW) to produce copper cathode from leached low-grade ore dumps. From 1996 to 1997 Mines Gaspe operated a pilot plant to test the economical feasibility of leaching an oxidized copper ore, followed by solvent extraction and electrowinning of copper. Despite copper SX/EW processes have the reputation of being low cost operations, plant engineers should always look at way to make the plant more efficient. Process models provide an economic platform to learn, control and ultimately optimize the operation of a plant.Several models have been independently proposed to simulate the SX process (Cadman and Hsu, 1970; Medina Gomez, 1980; Wilkinson and Ingham, 1983; Garcia et al., 1988; Aminian et al., 1997) and the EW process (Bryson, 1981; Barton and Scott, 1992; Barton and Scott, 1993). However few papers, if any, deal with the integration of the two process models into a single simulator of a SX-EW plant. This paper describes the development of an integrated simulator for the SX-EW process and shows some steady-state simulation runs of an actual SX-EW pilot plant. The paper consists of four sections. The first section shows the general layout and principles of operation of a SX-EW plant.The second section describes the SX model while the third section deals with the process model used for the copper electrowinning process. The last section shows how the two process models are linked to simulate the operation of the Gaspe pilot plant."

Jan 1, 1999

By G. M. Hughes, J. Ellis

"IntroductionHydraulics has been considered a science for thousands of years. Applications included water wheels, dam; and slice gates but today the term ""hydraulics"" commonly refers to ""power hydraulics"" in which fluid is used under controlled pressure to do work. The mining industry employee’s hydraulics in practically every aspect of its operations, on such equipment as trucks, front end loaders, LHD units, crushers and hydrostroke feeders. The many benefits of hydraulic drives such as ease of variable speed control, high power: weight ratio low envelope size of hydraulic actuators and ease of maintenance have been extensively developed in the pulp and paper, chemical, steel, and other basic industries, but until quite recently, concentrator operators have not taken advantage of the versatile methods of power transmission offered by hydraulic systems.After some preliminary testing at the Lynn Lake concentrator Sherritt Cordon Mines Limited installed several hydraulic system; at their Fox Mine concentrator to drive slurry pumps and conveyors. The systems used at Fox and the systems which will be installed at the Ruttan concentrator are briefly described in this paper. Since acceptance is based mainly on understanding a few basic principles of hydraulics system; including pumps, motors, circuitry and central methods are also presented in the paper.PRINCIPLES OF POWER HYDRAULICSBasicsHydraulic systems provide an uncomplicated, versatile means of power transmission. The basic system is quite simple. It consists of five main elements, as shown in Figure 1, which are:1. Prime Mover - generally an electric motor.2. Hydraulic Pump - fixed or variable positive displacement type such as a piston or vane p.mp which displaces a constant amount of fluid for ead1 revolution - this unit converts mechanical energy of the prime mover into fluid energy.3. Oil Reservoir - a standard tank to operate under atmospheric pressure which has a capacity of 2 - 3 times the maximum gpm outp.it of the hydraulic pump."

Jan 1, 1972

By Zdenek D. Hora

British Columbia is an important producer of a variety of industrial minerals for both domestic and export markets. Some commodities such as limestone, dolomite, gypsum, calcium carbonate, silica, barite and magnetite are raw materials for well-established industries located in British Columbia, Alberta and northwestern USA. Others, like magnesite, sulphur, jade, asbestos, dimension stone and clay products, are mainly exported in processed form to overseas customers. Companies are developing markets for relatively new mineral products, including pumice, volcanic cinder and zeolites. A number of attractive geological targets have been identified by industry while research by government geologists has outlined the potential for refractory minerals, gemstones, garnet, nepheline syenite, carbonatites, residual kaolin, igneous apatite and peat.

Jan 1, 2001

This paper describes the back analysis of the Pavoncelli tunnel, an hydraulic tunnel which was excavated between 1904 and 1915 in South of Italy and experienced severe damages during the 1980 Irpino-Lucano earthquake. A numerical simulation which is intended to study the behaviour of the tunnel during this seismic event is presented, also accounting for the swelling phenomenon that took place during and after construction.

May 1, 2009

By Gregg S. Hill, Bert J. Huls

"This paper on coarse particle recovery (CPR) summarizes a process to capture coarse particles that are not recoverable by regular flotation. Several porphyry copper operations in the world operate analogous circuits that recover non-floated copper from tailings; however, the case presented here is unique in that extensive underlying test work has allowed us to elucidate some fundamental principles behind recovery enhancement. This paper discusses an overview of the flow sheet that is proposed to Minera Escondida Ltda., the nature of copper in the feed to the CPR circuit, and the various unit operations within the recovery circuit. Details of the technology behind each unit operation will be presented in later publications.INTRODUCTIONSince 1996 BHPBilliton and MEL (Minera Escondida Ltda.) have developed a process to recover copper from coarse particles in the rougher tailings. Copper recovery from fresh tailings is not new. Several operations in Chile, such as Chuquicamata, El Teniente (AMEC, 2003), Mantos Blancos and others have operated various forms of tailings circuits. Both Chuquicamata and El Teniente practice cascade flotation scalping off froth containing fine copper particles after allowing sufficient retention time, air inducement and, sometimes, additional reagent addition. Chuquicamata tailings are not segregated but floated in sequential cascade and conventional large cell arrangements. At the Valle Central operation of El Teniente a coarse fraction of mill tailings is ground and floated, with the rejects recombined with fine tailings and subjected to cascade flotation through a sequence of concrete launders as the tailings flow towards their final deposition area. Mantos Blancos cyclone the rougher tailings and blend the underflow with scavenger concentrate from elsewhere in the principal circuit prior to flotation in Wemco Cells. Kemess in BC, Canada operates a 160 m3 Outokumpu cell to reduce the tailings sulfur content (Rasmussen, et.al, 2004)."

Jan 1, 2005

By Christian Ottergren

"Modern crushers offer double the capacity and performance of classic models. In some cases crushers are replacing SAG circuits, the advantages being smaller investment and lower operating costs. Is Tertiary crushing replacing SAG milling as the most optimal grinding method? Does tertiary crushing achieve the same outcomes as SAG milling? This paper considers these questions and provides an assessment of the strengths of tertiary crushing in comparison to other methods. Two case studies: a Scandinavian Platinum Project, and CODELCO, are also presented.INTRODUCTIONResearch on basic parameters in crushing started at Chalmers University in 1993. The initial project has developed and now involves several related areas. Modelling in accordance with new theories has resulted in modified designs which have been implemented and shown improved performance at operating mines in Chile. Sandvik Rock Processing is a partner and a major supporter of this program. This paper will cover some of the achievements and give references to the research reports.The mining industry has for many years mainly used crushers of the traditional 7’crusher concept, with thread adjustment of the setting and with a spring or hydraulic overload system. This machine type has been the workhorse for crushing throughout the world. The explanation for the dominance of this machine is that it has a reliable mechanical design. It can be estimated that about 2000 crushers of this design are still at work.Technical development in all fields utilizes new technologies like high-strength materials, advanced control systems and more extensive use of hydraulics. This is the reason why today’s motorcars, for example, are more efficient, more reliable and more environmentally friendly than their predecessors in the 1950s. Crushers are no exception. This paper will cover experience from the latest-generation cone crushers developed by Sandvik Rock Processing.The parts in this paper related to the CODELCO ElTeniente copper mine in Chile are coauthored with responsible personnel from the operation at the mine."

Jan 1, 2004

By F. D. Ford, Z. Dai, A. Byers

Manitoba Mining and Milling operations consist of three underground mines (Thompson T1, T3 and Birchtree), feeding the Thompson Mill. Three years ago, a collaborative effort involving Mines Exploration, Mines Project Development Group, Mill Technical Services and Vale Base Metals Technical Excellence Center was initiated to establish and verify the cause of high variability in concentrate quality and Ni recovery at the Thompson Mill. One outcome of this work was a program to systematically characterize the mineralogy and metallurgical performance of current and future orebodies feeding the mill. Mineralogy results show that high value enabling ores typically have a high pentlandite to pyrrhotite ratio and benign silicate mineralogy (mostly quartz and feldspar from sedimentary host rocks), while metallurgically challenging ores contain some combination of pyrite and/or hexagonal (non-magnetic) pyrrhotite and/or elevated quantities of talc (with associated carbonates) derived from altered ultramafic host rocks. The metallurgical performance of these two ore types has been simulated by an Excel particle flotation model, which calculates the relative floatability of particles based on the particle’s mineral composition and mineral locking determined from MLA images. The relationship between these mineral properties measured by MLA and metallurgical performance was established using 13 monthly composite samples from Thompson Mill. The model was then validated with results of laboratory flotation experiments on individual orebodies submitted for evaluation. The validated model can be used to predict plant metallurgical performance based on individual ore bodies feeding the mill. Individual orebody’s grade-recovery curves are assumed to be additive, and can be weighted in proportion to the mill feed to predict mill recovery over the same time period. The ore mixing can be done with a simple Excel spreadsheet and comes with a graphical output for easy visualization of the resulting grade-recovery curve.

Jan 1, 2015

By John A. Herbst, Xiangjun Qiu

"Prediction of wear on a microscale level in mineral processing equipment turns out to be a challenging undertaking. This is particularly true for cases in which the objective is to use such predictions for wear parts design. The key to obtaining such predictions has turned out to be the use of physics based models along with phenomenological constitutive equations. In this paper, two components of the HFS tool set, one for particles (DEM) and one for slurry (MPF), are used for modeling. These tools are applied to the simulation of wear of SAG/AG shell lifters/plates and wear in slurry pumps. In each case wear predictions are validated with plant measurements.INTRODUCTIONHigh Fidelity Simulation (HFS) has emerged as an important tool set for mineral processing plant equipment design and optimization (Herbst and Potapov, 2003; Herbst and Nordell, 2002; Herbst and Lichter, 2006). This tool set consists of Discrete Element Modeling (DEM) of particle motion, Multi-Phase Flow (MPF) for liquid motion, discrete grain breakage (DGB) for particle fragmentation and discrete grain liberation (DGL) for mineral liberation (Campbell, Potapov and Tsuji, 1997; Ferzinger and Peric, 1997; Potapov and Campbell, 1996; Herbst and Potapov, 2005).Three sample snapshots of basic HFS illustrating the use of each of the various types of mineral processing equipment are shown below.Figure 1 shows a snapshot of a DEM simulation of ball charge motion in a commercial scale Vertimill. DEM simulation involves simultaneous solution of Newton’s Laws of Motion for 400,000 balls."

Jan 1, 2007

By Hamid-Reza Manouchehri

Mining & Sustainability? A Paradox?! ? Production: gradually or exponentially increasing (giant mining) ? Ore Grades: gradually declining, ? Open Cut Mining: now widespread, likely to be sustained in the future though the long-term is hard to predict as new mineral deposits are likely to be deeper ? Waste Rock / Overburden: increasing rapidly, likely to be sustained in the future and closely linked to open cut mining, especially for coal and base metals ? Economic Resources: commonly increasing but some remain stable or gradually declining, future is linked closely to exploration, technology and economics; Increasing population, changing life style and technology development, ultimately result in sustainability in mining industry to hang in the balance and continue.

May 1, 2013

By Phil Thwaites

"The mining industry uses many types of mineral and metallurgical plants to produce saleable product from ore mined. Plant design history has left current operations with a mixture of manual operation and various forms of automated process controls. Consequently, we typically see high variability in the continuous operations together with a shortfall in the attainment of full capacity, or higher utilization of consumables.At a level of best practice, “Operational Performance Excellence” focuses on process control, using automation and control systems to deliver process optimization. This more sophisticated delivery is a great deal more difficult than the first stage of equipment selection / installation. It includes the appropriate selection of the right instrumentation, control system, key process knowledge, individuals with a solid control engineering background/experience, and the essential backing/ support of the operations management team together leading to higher value delivery. Robust solutions can be realized, considerably minimizing process variation, thus leading to process optimization. This approach results in an easier, efficient and safer process while providing considerable returns for the plant owners.How variable are your processes, and do you maintain optimized process performance with dedicated resources, modern instrumentation, ‘best practice’ control systems and performance monitoring tools? In this lecture, these questions and their possible answers are discussed.357"

Jan 1, 2013

In this paper, geostatistical techniques are applied to forecast the annual copper price in the short and medium terms (from one to five years ahead). These techniques allow the incorporation of monthly and multivariate information in the analysis and provide more accurate results than traditional approaches, especially as far as the one-year forecast is concerned. A second advantage of geostatistics stems from its ability to assess the uncertainty associated with the unknown future prices, thanks to estimation variances or confidence intervals, depending on the technique used. Such an assessment has a crucial importance in decision-making, from both macroeconomic and microeconomic points of view

Sep 1, 2004

By A. Cabañas

"In this paper, geostatistical techniques are applied to forecast the annual copper price in the short and medium terms (from one to five years ahead). These techniques allow the incorporation of monthly and multivariate information in the analysis and provide more accurate results than traditional approaches, especially as far as the one-year forecast is concerned.A second advantage of geostatistics stems from its ability to assess the uncertainty associated with the unknown future prices, thanks to estimation variances or confidence intervals, depending on the technique used. Such an assessment has a crucial importance in decision-making, from both macroeconomic and microeconomic points of view. IntroductionThe copper price traded in the London Metal Exchange is a relevant parameter for defining macroeconomic policies of producing countries like Chile. It is also a key factor for the mining companies, since fluctuations in the sell price affect the expected financial flows. Due to the amount of money involved in decision-making, it is necessary to have accurate forecasts of the future copper prices and to quantify the uncertainty associated with such prices.This paper focuses on the annual copper price estimation in the short and medium terms, i.e., from one to five years into the future. Henceforth, the word “estimation” will be used as a synonym of “forecast,” according to the geostatistical jargon (Matheron, 1989).Two main approaches, based either on statistics or econometrics, are currently used to forecast commodity prices, but both of them are not very accurate when applied to copper. First, the main methods are briefly reviewed, then the geostatistical formalism will be presented. So far, the latter approach hardly has been used to estimate commodity prices, although it may reconcile both statistics and econometrics via (1) the use of a stochastic approach and (2) the handling of ancillary variables related to the copper market. Another advantage of geostatistical techniques is the ability not only to forecast the copper price, but also to measure the uncertainty associated with it."

Jan 1, 2004