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Mining Example Models

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» Mining Operating Costs

@RISK Models

xls Mining Operating Costs

Minimum Edition: @RISK Professional. This model uses historical mining costs for seven years to project costs for the coming year. The model forecasts line items for the coming year in two very different ways. First, it uses @RISK's Distribution Fitting tool to fit the historical data. This is a reasonable approach, but it can be argued that seven data values are not a sufficient basis for fitting a distribution. The second approach uses a more general distribution, the Trigen distribution. The bottom line is that the choice of input distributions can definitely make a difference in the distributions of the outputs.


xls Gold Mine Optimization
xls Optimización de Mina de Oro (Español)
xls Otimização de Mina de Ouro (Portugués)

Minimum Edition: @RISK Industrial. A gold mining project is divided into five separate mines, each with unique geological characteristics and cost variables. These variables (input costs, declination rates, plateau length, etc.) are all uncertain, and the price of gold is also uncertain. What is the optimal strategy for maximizing the project’s profits, given so many unknown variables and possible strategies? @RISK, with its RISKOptimizer tool, is used to optimize this problem to determine when, and in what order, each of the mines should be exploited.


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