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Category: Uncertainty

General / Mineral economics / Mining business / Uncertainty

What NASA’s James Webb Telescope Project Teaches Us About Cost Overruns

Image of Carina Nebula taken by the James Webb Telescope. Credits: NASA, ESA, CSA, and STScI This week, NASA released the first photographs from the James Webb Space Telescope. They …

General / Mine planning / Mineral economics / Mining business / Public disclosures / Uncertainty

Implications of mining project cost overruns for QP liability

Cost overruns are not new to engineering projects. It is a problem when the scale and frequency is high. Unfortunately, the mining industry has a reputation for cost overruns during …

Dice
Simulation / Uncertainty

Assessing uncertainty: What is the most important variable?

Many mine engineering analyses involve uncertainty due to variability in input variables. Examples include mine production planning analyses with uncertainty surrounding production rates and other production parameters and geomechanics analyses …

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