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The impact of variability and correlation of selected geological parameters on the economic assessment of bituminous coal deposits with use of non-parametric bootstrap and copula-based Monte Carlo simulation

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  • Kopacz, Michał
  • Sobczyk, Eugeniusz J.
  • Galica, Dominik

Abstract

This paper presents an assessment of the impact of variability and interdependencies of selected deposit parameters on the net present value (NPV) and internal rate of return (IRR). The subjects of the analyses were three economically viable seams at one of the bituminous coal deposits in Poland. The source of information was the geological model and operational data of the mine “X”. The simulation was developed based on non-parametric bootstrapping, where the influence of coal quality parameters, seam thickness, spatial density of coal, and waste rock derived from coal partings, floor cutting and dinting, and roof falls, was tested.

Suggested Citation

  • Kopacz, Michał & Sobczyk, Eugeniusz J. & Galica, Dominik, 2018. "The impact of variability and correlation of selected geological parameters on the economic assessment of bituminous coal deposits with use of non-parametric bootstrap and copula-based Monte Carlo sim," Resources Policy, Elsevier, vol. 55(C), pages 171-183.
    • Handle: RePEc:eee:jrpoli:v:55:y:2018:i:c:p:171-183
    DOI: 10.1016/j.resourpol.2017.11.015
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    References listed on IDEAS

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    1. Christian Gollier & Phoebe Koundouri & Theologos Pantelidis, 2008. "Declining discount rates: Economic justifications and implications for long-run policy [‘Regime switches in interest rates’]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 23(56), pages 758-795.
    2. Gawlik, Lidia & Szurlej, Adam & Wyrwa, Artur, 2015. "The impact of the long-term EU target for renewables on the structure of electricity production in Poland," Energy, Elsevier, vol. 92(P2), pages 172-178.
    3. Graham, John R. & Harvey, Campbell R., 2001. "The theory and practice of corporate finance: evidence from the field," Journal of Financial Economics, Elsevier, vol. 60(2-3), pages 187-243, May.
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    Cited by:

    1. Kopacz, Michał & Kulpa, Jarosław & Galica, Dominik & Olczak, Piotr, 2020. "The influence of variability models for selected geological parameters on the resource base and economic efficiency measures - Example of coking coal deposit," Resources Policy, Elsevier, vol. 68(C).
    2. Sobczyk, Eugeniusz J. & Galica, Dominik & Kopacz, Michał & Sobczyk, Wiktoria, 2022. "Selecting the optimal exploitation option using a digital deposit model and the AHP," Resources Policy, Elsevier, vol. 78(C).
    3. Aldin Ardian & Mustafa Kumral, 2021. "Enhancing mine risk assessment through more accurate reproduction of correlations and interactions between uncertain variables," Mineral Economics, Springer;Raw Materials Group (RMG);Luleå University of Technology, vol. 34(3), pages 411-425, October.
    4. Qadan, Mahmoud & Aharon, David Y. & Eichel, Ron, 2019. "Seasonal patterns and calendar anomalies in the commodity market for natural resources," Resources Policy, Elsevier, vol. 63(C), pages 1-1.

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