Time Series Techniques for Mine Management

A number of forecasting methods are available to mine management to help predict the most likely outcome of some particular event thus enabling management to make more cost effective decisions. Three general classes of models can be used to predict future events qualitative, structural and time series, the most effective method in most cases being time series. Time series methods can be applied to predict future events from a series of past observations. Various time series techniques are reviewed with a comparison of their relative advantages and disadvantages.