MNE442

042484

Mine planning involves making decisions at different stages of a mining operation that meets stakeholders' goals given operational and regulatory constraints. Suboptimal decision-making often leads to unsustainable resource exploitation. Therefore, it is important to minimize risk and evaluate all feasible alternatives in decision-making to achieve an efficient mine plan. The first part of this course introduces students to the process of identifying, quantifying, and managing the economic risk inherent in mining as part of the decision-making process (using Monte Carlo simulation). Second, discrete event simulation (in Arena®) is used to select \"the best option,\" such as the optimal number of haulage equipment, given operational risks to meet stakeholders' goals.

GRD - Regular Grades A, B, C, D, E

Undergraduate

018898

MNE542