ABSTRACT
Today, the technical challenges for estimating closure time and cost are two significant parts of mine closure management. In this paper, a simulation-based framework is established to determine the probable open-pit mine closure times and mine closure costs. The model incorporates the price uncertainty into the probable mine closure time. To estimate more accurate mine closure costs the Hutchison’s technique was modified using the predefined mine closure time. The Hutchison’s technique uses Monte Carlo method and decision tree analysis to provide mine closure cost estimation in a probabilistic manner. The proposed framework is applied in a 2D hypothetical geological model. The results showed that the model works well and it can be used for real cases.
