Exploitation
E. Bakhtavar; A. Jafarpour; S. Yousefi
Abstract
In order to catch up with reality, all the macro-decisions related to long-term mining production planning must be made simultaneously and under uncertain conditions of determinant parameters. By taking advantage of the chance-constrained programming, this paper presents a stochastic model to create ...
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In order to catch up with reality, all the macro-decisions related to long-term mining production planning must be made simultaneously and under uncertain conditions of determinant parameters. By taking advantage of the chance-constrained programming, this paper presents a stochastic model to create an optimal strategy for producing bimetallic deposit open-pit mines under certain and uncertain conditions. The uncertainties of grade, price per product, and capacities of the various stages in the process of production of the final product were considered. The results of solving the deterministic and stochastic models showed that the stochastic model had a greater compatibility and performance than the other ones.
M. J. Babaei; M. A. Molaei; A. Dehghani
Abstract
This study aims to estimate the function of copper consumption using the Johansen approach in time series data, between 1991-2011 in Iran. The literature review of specialized consumption and demand functions shows factors influencing the consumption of copper including copper price variables, aluminum ...
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This study aims to estimate the function of copper consumption using the Johansen approach in time series data, between 1991-2011 in Iran. The literature review of specialized consumption and demand functions shows factors influencing the consumption of copper including copper price variables, aluminum price as a substitute commodity, oil price as a complementary commodity, and industrialization intensity. For this purpose, raw data from the World Bank and International Copper Study Group, were used to extract the initial data needed for the current study, and then research variables were calculated and applied in a seasonal manner. In the next stage, using vector autoregressive, Johansen cointegration test, and vector error correction model, the existence of long-run cointegrated equilibrium relationship was surveyed by vector error correction model. Model estimation results show that there is a positive correlation between between industrialization intensity variable and the price of substitute product (Aluminum) and copper consumption ratio Moreover, there was a significant negative correlation between copper prices and complementary commodity price (Oil), during the review period in Iran. It should be noted that aluminum and copper prices can impact the copper consumption, and an awareness of this can influence making copper sales contracts domestically and abroad.