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Minerals
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Applied Mineral Economics: Valuation, Decision Making and Risk Analysis
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Applied Mineral Economics: Valuation, Decision Making and Risk Analysis

A special issue of Minerals (ISSN 2075-163X).

Deadline for manuscript submissions: closed (31 December 2015) | Viewed by 32234

Special Issue Editor

Dr. Mustafa Kumral

E-Mail Website
Guest Editor
Department of Mining and Materials Engineering, McGill University, Montreal, QC H3A 0E8, Canada
Interests: mine risk management; mine planning and optimization; mineral economics; bed-blending and homogenisation operations; reliability analysis and maintenance optimization of mining systems

Special Issue Information

Dear Colleagues,

The extraction of mineral resources requires a value chain, which has a series of sequential operations (e.g., drilling, blasting, loading, hauling, blending, milling, and concentration) concerning the conversion of raw materials, which vary qualitatively and quantitatively, into products. This process has to be achieved in a controlled fashion. The process can be interpreted as an operation portfolio. Mining enterprises also have a project portfolio consisting of licensing, exploration, development, extraction, and closure. These enterprises, which have sophisticated structures, encounter serious risks/uncertainties, at technical and managerial levels, which are associated with investment strategy, organization, engineering, portfolio management, and operational decision-making. The valuation and management of such operations/enterprises constitute significantly challenging problems. This Special Issue will concern recent research and applications regarding mineral economics, mine valuation, mine risk management, real options, value chain analysis, mine finance, mine portfolio management, and related topics.

Dr. Mustafa Kumral
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Minerals is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.


Published Papers (4 papers)

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Research

2699 KiB  
Article
Fault Reactivation Can Generate Hydraulic Short Circuits in Underground Coal Gasification—New Insights from Regional-Scale Thermo-Mechanical 3D Modeling
by Christopher Otto, Thomas Kempka, Krzysztof Kapusta and Krzysztof Stańczyk
Minerals 2016, 6(4), 101; https://doi.org/10.3390/min6040101 - 29 Sep 2016
Cited by 14 | Viewed by 4454
Abstract
Underground coal gasification (UCG) has the potential to increase worldwide coal reserves by utilization of coal deposits not mineable by conventional methods. This involves combusting coal in situ to produce a synthesis gas, applicable for electricity generation and chemical feedstock production. Three-dimensional (3D) [...] Read more.
Underground coal gasification (UCG) has the potential to increase worldwide coal reserves by utilization of coal deposits not mineable by conventional methods. This involves combusting coal in situ to produce a synthesis gas, applicable for electricity generation and chemical feedstock production. Three-dimensional (3D) thermo-mechanical models already significantly contribute to UCG design by process optimization and mitigation of the environmental footprint. We developed the first 3D UCG model based on real structural geological data to investigate the impacts of using isothermal and non-isothermal simulations, two different pillar widths and four varying regional stress regimes on the spatial changes in temperature and permeability, ground surface subsidence and fault reactivation. Our simulation results demonstrate that non-isothermal processes have to be considered in these assessments due to thermally-induced stresses. Furthermore, we demonstrate that permeability increase is limited to the close reactor vicinity, although the presence of previously undetected faults can introduce formation of hydraulic short circuits between single UCG channels over large distances. This requires particular consideration of potentially present sub-seismic faults in the exploration and site selection stages, since the required pillar widths may be easily underestimated in presence of faults with different orientations with respect to the regional stress regime. Full article
(This article belongs to the Special Issue Applied Mineral Economics: Valuation, Decision Making and Risk Analysis)
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7482 KiB  
Article
RTRO–Coal: Real-Time Resource-Reconciliation and Optimization for Exploitation of Coal Deposits
by Jörg Benndorf, Cansin Yueksel, Masoud Soleymani Shishvan, Heinrich Rosenberg, Thomas Thielemann, Robert Mittmann, Oliver Lohsträter, Matthias Lindig, Corinna Minnecker, Ralf Donner and Wojciech Naworyta
Minerals 2015, 5(3), 546-569; https://doi.org/10.3390/min5030509 - 25 Aug 2015
Cited by 15 | Viewed by 6826
Abstract
This contribution presents an innovative and integrated framework for real-time-process reconciliation and optimization (RTRO) in large continuous open pit coal mines. RTRO-Coal is currently developed, validated, tested and implemented as part of a multi-national multi-partner European Union funded R&D project. The key concept [...] Read more.
This contribution presents an innovative and integrated framework for real-time-process reconciliation and optimization (RTRO) in large continuous open pit coal mines. RTRO-Coal is currently developed, validated, tested and implemented as part of a multi-national multi-partner European Union funded R&D project. The key concept is to promote a shift in paradigm from intermittent discontinuous to a continuous process monitoring and quality management system in large scale coal mining operations. The framework is based on a real-time feedback control loop linking online data acquired during extraction rapidly with a sequentially up-datable resource model. The up-to-date model is integrated with a real-time optimization of short-term sequencing and production control decisions. Improved decisions are expected to lead to increased resource-and process efficiency and support a sustainable extraction of natural resources. This contribution introduces to the framework, discusses main building blocks and illustrates the value added by the means of selected examples. Full article
(This article belongs to the Special Issue Applied Mineral Economics: Valuation, Decision Making and Risk Analysis)
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992 KiB  
Article
Market Structure Differences Impacting Australian Iron Ore and Metallurgical Coal Industries
by Kurt Lawrence and Micah Nehring
Minerals 2015, 5(3), 473-487; https://doi.org/10.3390/min5030473 - 22 Jul 2015
Cited by 10 | Viewed by 9560
Abstract
Steelmaking relies on iron ore and metallurgical coal as main ingredients, the trade of which is hypothesized to theoretically change in tandem. However, strong correlation is not evident in historical trade prices of steelmaking inputs. To determine causes to this occurrence, the market [...] Read more.
Steelmaking relies on iron ore and metallurgical coal as main ingredients, the trade of which is hypothesized to theoretically change in tandem. However, strong correlation is not evident in historical trade prices of steelmaking inputs. To determine causes to this occurrence, the market factors that influence the Australian iron ore and metallurgical coal industries were studied. Data was collected over the past decade for worldwide resource production and trade quantities of crude steel, iron ore, and metallurgical coal. The data was analysed to reveal trends, allowing examination of the macroeconomic trade of metallurgical coal and iron ore with relation to worldwide and country specific steel production. It was determined that the influential growth of China’s steel production has spurred the growth of worldwide iron ore demand, which was met with increased production and supply, from Australia. The increased metallurgical coal demand has been met with increased production within China locally. Measures of supply elasticity were created for worldwide iron ore and metallurgical coal trade, where comparisons between Australia’s industries to the relevant greatest competitor were examined. The results, along with respective resource production data, highlighted the elevated competitive position that Australian iron ore producers enjoy compared to metallurgical coal producers. Trade characteristics revealed the different market structures that iron ore and metallurgical coal industries operate in, prompting a discussion of the effects these markets have on the two Australian industries. Full article
(This article belongs to the Special Issue Applied Mineral Economics: Valuation, Decision Making and Risk Analysis)
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2414 KiB  
Article
The Challenge of Integrating OHS into Industrial Project Risk Management: Proposal of a Methodological Approach to Guide Future Research (Case of Mining Projects in Quebec, Canada)
by Adel Badri
Minerals 2015, 5(2), 314-334; https://doi.org/10.3390/min5020314 - 01 Jun 2015
Cited by 15 | Viewed by 9116
Abstract
Although risk management tools are put to good use in many industrial sectors, some large projects have been met with numerous problems due to failure to take occupational health and safety (OHS) into consideration. In spite of the high level of risk and [...] Read more.
Although risk management tools are put to good use in many industrial sectors, some large projects have been met with numerous problems due to failure to take occupational health and safety (OHS) into consideration. In spite of the high level of risk and uncertainty associated with many industrial projects, the number of studies of methods for managing all known risks systematically remains small. Under effervescent economic conditions, industries must meet several challenges associated with frequent project start-ups. In highly complex and uncertain environments, rigorous management of risk remains indispensable for avoiding threats to the success of projects. Many businesses seek continually to create and improve integrated approaches to risk management. This article puts into perspective the complexity of the challenge of integrating OHS into industrial project risk management. A conceptual and methodological approach is proposed to guide future research focused on meeting this challenge. The approach is based on applying multi-disciplinary research modes to a complex industrial context in order to identify all scenarios likely to contain threats to humans or the environment. A case study is used to illustrate the potential of the proposed approach for application and its contribution to meeting the challenge of taking OHS into consideration. On-site researchers were able to develop a new approach that helped two mining companies in Quebec (Canada) to achieve successful integration of OHS into expansion projects. Full article
(This article belongs to the Special Issue Applied Mineral Economics: Valuation, Decision Making and Risk Analysis)
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