Incorporation of geological uncertainty in pit optimization with geostatistics simulation

Abstract Risk mapping processes in mine planning and ore recovery are constantly used in the mining industry to increase decision making certainty based on the available information. However, it is not possible to predict the risk behavior in all of the project's boundary conditions and small variations in some of these conditions can cause a great impact on its financial return. Among the countless uncertainties existing in a mining project (operational, costs, market change), many authors define the geological uncertainty as the most critical one, capable of influencing the success of the pr...