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A test and re-estimation of Taylor's empirical capacity-reserve relationship

Natural Resources Research

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DOI: 10.1007/s11053-009-9088-y

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Abstract

In 1977, Taylor proposed a constant elasticity model relating capacity choice in mines to reserves. A test of this model using a very large (n = 1,195) dataset confirms its validity but obtains significantly different estimated values for the model coefficients. Capacity is somewhat inelastic with respect to reserves, with an elasticity of 0.65 estimated for open-pit plus block-cave underground mines and 0.56 for all other underground mines. These new estimates should be useful for capacity determinations as scoping studies and as a starting point for feasibility studies. The results are robust over a wide range of deposit types, deposit sizes, and time, consistent with physical constraints on mine capacity that are largely independent of technology. ?? 2009 International Association for Mathematical Geology.

Additional Publication Details

Publication type:
Article
Publication Subtype:
Journal Article
Title:
A test and re-estimation of Taylor's empirical capacity-reserve relationship
Series title:
Natural Resources Research
DOI:
10.1007/s11053-009-9088-y
Volume
18
Issue:
1
Year Published:
2009
Language:
English
Larger Work Type:
Article
Larger Work Subtype:
Journal Article
Larger Work Title:
Natural Resources Research
First page:
57
Last page:
63
Number of Pages:
7