Optimum mine production rate based on price uncertainty

Detalhes bibliográficos
Autor(a) principal: Souza,Felipe Ribeiro
Data de Publicação: 2019
Outros Autores: Câmara,Taís Renata, Torres,Vidal Félix Navarro, Nader,Beck, Galery,Roberto
Tipo de documento: Artigo
Idioma: eng
Título da fonte: REM - International Engineering Journal
Texto Completo: http://old.scielo.br/scielo.php?script=sci_arttext&pid=S2448-167X2019000500625
Resumo: Abstract The production rate of a mining operation has an important effect on the operational cycle and gross profit, which are often evaluated based on engineering practices. Assessment of the economic performance of mine operations in mining engineering is of great importance because an incorrect production rate can result in significant financial losses. The production rate is composed of two bases: the cost estimation and the price scenario. Bureau of Mines studies performed on American mines indicated that processing costs can be estimated through the production rate. This article proposes to connect the model presented by the Bureau of Mines and queuing theory to describe the operational costs, which are used to develop a production optimization methodology. The proposed cost composition describes a production system to verify the law of diminishing returns and the economy of scale. Between these regions of the production curve, the optimum point was determined with mathematical precision.
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spelling Optimum mine production rate based on price uncertaintyproduction ratemarginal profitmine optimizationelasticityprice simulationAbstract The production rate of a mining operation has an important effect on the operational cycle and gross profit, which are often evaluated based on engineering practices. Assessment of the economic performance of mine operations in mining engineering is of great importance because an incorrect production rate can result in significant financial losses. The production rate is composed of two bases: the cost estimation and the price scenario. Bureau of Mines studies performed on American mines indicated that processing costs can be estimated through the production rate. This article proposes to connect the model presented by the Bureau of Mines and queuing theory to describe the operational costs, which are used to develop a production optimization methodology. The proposed cost composition describes a production system to verify the law of diminishing returns and the economy of scale. Between these regions of the production curve, the optimum point was determined with mathematical precision.Fundação Gorceix2019-10-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S2448-167X2019000500625REM - International Engineering Journal v.72 n.4 2019reponame:REM - International Engineering Journalinstname:Fundação Gorceix (FG)instacron:FG10.1590/0370-44672018720093info:eu-repo/semantics/openAccessSouza,Felipe RibeiroCâmara,Taís RenataTorres,Vidal Félix NavarroNader,BeckGalery,Robertoeng2019-09-13T00:00:00Zoai:scielo:S2448-167X2019000500625Revistahttps://www.rem.com.br/?lang=pt-brPRIhttps://old.scielo.br/oai/scielo-oai.php||editor@rem.com.br2448-167X2448-167Xopendoar:2019-09-13T00:00REM - International Engineering Journal - Fundação Gorceix (FG)false
dc.title.none.fl_str_mv Optimum mine production rate based on price uncertainty
title Optimum mine production rate based on price uncertainty
spellingShingle Optimum mine production rate based on price uncertainty
Souza,Felipe Ribeiro
production rate
marginal profit
mine optimization
elasticity
price simulation
title_short Optimum mine production rate based on price uncertainty
title_full Optimum mine production rate based on price uncertainty
title_fullStr Optimum mine production rate based on price uncertainty
title_full_unstemmed Optimum mine production rate based on price uncertainty
title_sort Optimum mine production rate based on price uncertainty
author Souza,Felipe Ribeiro
author_facet Souza,Felipe Ribeiro
Câmara,Taís Renata
Torres,Vidal Félix Navarro
Nader,Beck
Galery,Roberto
author_role author
author2 Câmara,Taís Renata
Torres,Vidal Félix Navarro
Nader,Beck
Galery,Roberto
author2_role author
author
author
author
dc.contributor.author.fl_str_mv Souza,Felipe Ribeiro
Câmara,Taís Renata
Torres,Vidal Félix Navarro
Nader,Beck
Galery,Roberto
dc.subject.por.fl_str_mv production rate
marginal profit
mine optimization
elasticity
price simulation
topic production rate
marginal profit
mine optimization
elasticity
price simulation
description Abstract The production rate of a mining operation has an important effect on the operational cycle and gross profit, which are often evaluated based on engineering practices. Assessment of the economic performance of mine operations in mining engineering is of great importance because an incorrect production rate can result in significant financial losses. The production rate is composed of two bases: the cost estimation and the price scenario. Bureau of Mines studies performed on American mines indicated that processing costs can be estimated through the production rate. This article proposes to connect the model presented by the Bureau of Mines and queuing theory to describe the operational costs, which are used to develop a production optimization methodology. The proposed cost composition describes a production system to verify the law of diminishing returns and the economy of scale. Between these regions of the production curve, the optimum point was determined with mathematical precision.
publishDate 2019
dc.date.none.fl_str_mv 2019-10-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://old.scielo.br/scielo.php?script=sci_arttext&pid=S2448-167X2019000500625
url http://old.scielo.br/scielo.php?script=sci_arttext&pid=S2448-167X2019000500625
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 10.1590/0370-44672018720093
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv text/html
dc.publisher.none.fl_str_mv Fundação Gorceix
publisher.none.fl_str_mv Fundação Gorceix
dc.source.none.fl_str_mv REM - International Engineering Journal v.72 n.4 2019
reponame:REM - International Engineering Journal
instname:Fundação Gorceix (FG)
instacron:FG
instname_str Fundação Gorceix (FG)
instacron_str FG
institution FG
reponame_str REM - International Engineering Journal
collection REM - International Engineering Journal
repository.name.fl_str_mv REM - International Engineering Journal - Fundação Gorceix (FG)
repository.mail.fl_str_mv ||editor@rem.com.br
_version_ 1754734691428073472

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