A Hybrid Model for Risk-Based Strategic Planning in Open-Pit Mining: Integrating Deterministic, Stochastic, and ISO 31000 Approaches

A Hybrid Model for Risk-Based Strategic Planning in Open-Pit Mining: Integrating Deterministic, Stochastic, and ISO 31000 Approaches

The strategic planning of open-pit mining projects is highly influenced by geological variability, economic fluctuations, and operational uncertainties. Traditional deterministic optimization models often fail to account for these uncertainties, leading to potentially misleading economic evaluations...

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Bibliographic Details
Main Authors: Petar Markovic, Dejan Stevanovic, Bozo Kolonja, Dragana Slavkovic, Daniel Krzanovic
Format: Article
Language:English
Published: MDPI AG 2025-02-01
Series:Applied Sciences
Subjects:
hybrid risk management
pit limit optimization
Monte Carlo simulations
decision support in mining
uncertainty modeling
economic risk analysis
Online Access:https://www.mdpi.com/2076-3417/15/5/2500
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