Du Plessis, ABrent, AC2007-07-032007-07-032006-06Du Plessis, A and Brent, AC. 2006. Development of a risk-based mine closure cost calculation model. Journal of the South African Industry of Mining and Metallurgy (SAIMM), Vol. 106, Pages: 443-4500038-223Xhttp://hdl.handle.net/10204/883Copyright: 2006 South African Institute of Mining and Metallurgy (SAIMM)The study summarised in this paper focused on expanding existing South African mine closure cost calculation models to provide a new model that incorporates risks, which could have an effect on the closure costs during the life cycle of the mine. This research is important because currently there are a number of mines that do not have sufficient financial provision to close and rehabilitate the mines. The magnitude of the lack of funds could be reduced or eliminated if the closure cost calculation is done in a more risk-orientated manner. The model consists of an expansion of existing closure cost calculation models, by applying the Monte Carlo risk simulation technique to model influences of external and internal change affecting closure costs. It is shown that the proposed risk -based models provides a way to understand better the implications of uncertainty on the closure costsenMining industryMine closure modelCost estimatesEnvironmental managementMCMArticleDu Plessis, A., & Brent, A. (2006). Development of a risk-based mine closure cost calculation model. http://hdl.handle.net/10204/883Du Plessis, A, and AC Brent "Development of a risk-based mine closure cost calculation model." (2006) http://hdl.handle.net/10204/883Du Plessis A, Brent A. Development of a risk-based mine closure cost calculation model. 2006; http://hdl.handle.net/10204/883.TY - Article AU - Du Plessis, A AU - Brent, AC AB - The study summarised in this paper focused on expanding existing South African mine closure cost calculation models to provide a new model that incorporates risks, which could have an effect on the closure costs during the life cycle of the mine. This research is important because currently there are a number of mines that do not have sufficient financial provision to close and rehabilitate the mines. The magnitude of the lack of funds could be reduced or eliminated if the closure cost calculation is done in a more risk-orientated manner. The model consists of an expansion of existing closure cost calculation models, by applying the Monte Carlo risk simulation technique to model influences of external and internal change affecting closure costs. It is shown that the proposed risk -based models provides a way to understand better the implications of uncertainty on the closure costs DA - 2006-06 DB - ResearchSpace DP - CSIR KW - Mining industry KW - Mine closure model KW - Cost estimates KW - Environmental management KW - MCM LK - https://researchspace.csir.co.za PY - 2006 SM - 0038-223X T1 - Development of a risk-based mine closure cost calculation model TI - Development of a risk-based mine closure cost calculation model UR - http://hdl.handle.net/10204/883 ER -