Geostatistics And Productivity In The Mining Industry - Part 1: From Exploration To Design Of A Global Project

The world mining industry is facing a severe recession. Thus, it is time to recall the value of geostatistical methods which were formerly developed as a money-saving and productivity-increasing tool. The situation has worsened, but the techniques of geostatistics have dramatically changed. Up to millions of dollars can be saved during exploration with simple use of variograms; then, during reserves estimation with kriging methods; and finally, with the parameterization of reserves, when evaluating a project and optimizing its global mining parameters.