Economic valuation of coal deposits – The value of geological information in the resource recognition process

Michał Kopacz, Jarosław Kulpa, Dominik Galica, Artur Dyczko and Jacek Jarosz

Resources Policy, 2019, vol. 63, issue C, -

Abstract: Resource and economic assessment under uncertainty and risk is quite a difficult process. Many geological, mining, technical and economic aspects should be taken in to consideration simultaneously. The assessment process is also subject to errors, including measurement and interpretation errors and errors resulting from lack of knowledge or over-optimism. Uncertainty about the true value of the geological parameters is reduced as the recognition process and the knowledge about deposits improve. Especially at the first stages of mine development, the information available is insufficient and can lead to incorrect interpretation.

Keywords: Coal; Coal deposit; Economic evaluation; Value of geological information; Monte Carlo simulation; Ogive distribution; Copulas; IRR, NPV and EBITDA indicators (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:63:y:2019:i:c:s0301420719301837

DOI: 10.1016/j.resourpol.2019.101450

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