Abstract
This paper challenges mining geostatisticians to start solving today’s problems, in particular to produce more meaningful recoverable reserve estimates for input into financial risk assessment studies. After reviewing several techniques for risk analysis, it focuses on Monte Carlo simulation and encourages geostatisticians to develop a new type of grade—tonnage simulation, a shortcut on traditional conditional simulations. Using high quality interactive graphics in colour, these simulated grade—tonnages curves could be displayed as a 3D cloud with metal price as the variable giving the third dimension. This would allow mining engineers and financial analysts to visualise the inter-relationships between the recoverable reserves and the metal price in a new and appealing way.
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© 1994 Springer Science+Business Media Dordrecht
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Armstrong, M. (1994). Is Research in Mining Geostats as Dead as a Dodo?. In: Dimitrakopoulos, R. (eds) Geostatistics for the Next Century. Quantitative Geology and Geostatistics, vol 6. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-0824-9_34
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DOI: https://doi.org/10.1007/978-94-011-0824-9_34
Publisher Name: Springer, Dordrecht
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