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By J Välivaara

The mining industry will face numerous challenges over the next 10–15 years as new deposits are likely to be more remote and lower grade and existing deposits will be mined deeper. As a result, mines and mining contractors operating in deep-mine conditions will need to focus on the quality of drilling and blasting to minimise unnecessary waste rock excavation to keep costs at an acceptable level. In addition, increased demand for improved safety and operator ergonomics will set greater demands on original equipment manufacturers of mining equipment. Finally, difficulties finding a skilled and experienced workforce, particularly in remote mine locations, have already negatively impacted mines’ ability to achieve high productivity and low operating costs.This paper introduces techniques and shares practical experiences in increasing productivity and reducing the costs of excavation in underground face drilling. The paper uses Sandvik’s new DD422i automated mining jumbo as an example of the type of equipment needed to deliver the features and corresponding benefits for future mine development. Case studies using this equipment are presented to illustrate the points made in this paper.CITATION:Välivaara, J, 2016. Automated drilling features for improving productivity and reducing costs in underground development, in Proceedings Seventh International Conference and Exhibition on Mass Mining (MassMin 2016), pp 723–730 (The Australasian Institute of Mining and Metallurgy: Melbourne).

May 9, 2016

By Todd Schrauf, James Scott, Mark Smith

"Cyanide heap leaching of gold ores in areas with extremely low winter temperatures requires special considerations to prevent freezing of the leach solution. Factors that impact the solution temperature include ore temperature at the time of stacking and during operation, burial of drip irrigation lines, use of geomembrane covers and heating of the leach solution. Thermodynamic modeling was performed to simulate expected ore and solution temperatures under different operating strategies for Kaminak Gold’s Coffee gold project in the Yukon Territory. Mean monthly temperatures at the site ranged from a low of -22.5 °C (-8.5 °F) to a high of 13.6 °C (56.4 °F), while in situ ore temperatures ranged from -0.5° to about -1.5 °C (31 ° to 29 °F). The modeling results were used to optimize the operational parameters and indicated that a combination of drip line burial and heating of the leach solution during the winter months was required to maintain solution temperatures above freezing during the initial years of stacking, although as the size of the heap increased, heating was no longer necessary.Modeling objectivesThe successful operation of a cyanide heap leach under extremely cold winter temperatures requires the implementation of operational strategies to prevent freezing of the leach solution and the ore within the heap. Thermodynamic modeling of the heap provides the means to quantify the effectiveness of these different operational parameters on maintaining the required operating temperatures to avoid freezing within the heap. The operational parameters that were evaluated with the model included:"

Apr 1, 2016

By N Cusworth, W R. Mackenzie

"In 2007, the authors presented a framework for the conduct of resource project feasibility studies and provided guidance on minimum standards and best practice (Mackenzie and Cusworth, 2007).This paper will present the authors’ observations in relation to feasibility studies undertaken to support investments made during the unprecedented period of resource project capital investment since 2007. It will also provide comments on general trends in the mining industry’s approach to project assessment and update recommendations on best practice.CITATION:Mackenzie, W R and Cusworth, N, 2016. The use and abuse of feasibility studies – has anything changed?, in Proceedings Project Evaluation 2016, pp 133–148 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By P McCarthy

"This paper is based on 30 years of involvement in feasibility studies as a participant, study manager and the leader of a firm that provides study components and overall study management. The following topics are discussed:the purpose of feasibility studiesaligning the goals of the study team with those of the ownerthe difference between optimisation and designhow the types and levels of studies affect the organisation of the studythe relative merits of various management structures and contractual arrangementssetting scopes of work and tendering the work outthe selection of a study manager and the study management teamcommunications within the study team and externallythe project management trianglemanaging scope changes and maintaining flexibility to respond to study findingsprogress paymentsmanaging a study crisisinnovation, risk aversion and bankabilityreporting the resultsthe dangers and benefits of value engineering.CITATION:McCarthy, P, 2016. Making studies work – organisation, communication and management, in Proceedings Project Evaluation 2016, pp 20–30 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By A A. Roberts, R F. Dewhirst

"Extensive literature surveys, research in the project environment and personal experiences both within and consulting to project teams have revealed some consistent ‘people factors’ that contribute most to ultimate project success. Outside of purely technical and business case issues, there are a small number of leadership characteristics – probably only ten – that if correctly applied can positively leverage a team’s impact on project success.Of the top seven project success characteristics that were consistently highly rated in a recent study, five of them were around leadership. The authors have focused on this topic, noting that good leaders need to display the following traits:passionate commitment to deliveryconsistent modelling and reinforcement of correct values and behaviourfocus on managing relationships well and energising teams and individualscarefully clarifying project vision from front-end loading stages onwardseffective decision making.Not every project manager can and does practise these behaviours all of the time, but being aware of them and receiving training or facilitation in improving their application of these skills can equip project managers with the essential tools to markedly improve their own performance and that of their teams.This paper draws upon experiences in the field and provides lessons – both good and bad – to illustrate. As well as examining leadership traits, the way in which a leader can establish, organise, motivate his or her team and ultimately lead them to success is examined. The paper shares methodologies that have been successfully used to track status within a team and generate appropriate recovery plans where required.In particular, the paper will examine a case study based on an amalgamation of real project issues in some challenging situations using virtual teams (ie physically distant teams located in different centres) to illustrate the importance of strong and positive leadership in achieving success across geographies, time zones and languages.CITATION:Roberts, A A and Dewhirst, R F, 2016. Leadership in projects – a recipe for success, in Proceedings Project Evaluation 2016, pp 49–58 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By B E. Hall, D B. Kahler

"'Optimisation' has become a catchcry among many mining companies looking to tell the market how mining businesses will be improved and shareholder value increased. Consequently, the term 'optimisation' has been adopted by many service providers as they look to assist mining companies in achieving their objectives. But the explosion of services and products being offered with the label 'optimisation' has created some confusion. Mining companies ask for help in 'optimising' and service providers offer their assistance because they have a product that has the word 'optimisation' in its title. This is of course an over-simplification, but not by much! The authors' discussions in recent years with both mining companies and service providers have uncovered a number of very different definitions of optimisation.This paper provides a framework for identifying the scope and approach of different mining optimisation products and services, particularly the distinction between optimisation of components of the operation and the business as a whole. The different types of business optimisation are discussed, highlighting the failings of the mining industry's typical approach of strategy selection (as opposed to strategy optimisation). Mining business optimisation is discussed as a wicked problem, with the implication of this on how strategy optimisation models should be used and what the objectives of a business optimisation study should be.Case studies are also included to illustrate how fully flexible strategy optimisation models have been applied to assist decision-makers understand the impacts of changes in one part of the operation on the whole mining and treatment process, from geological models to the sale of product to customers.CITATION:Kahler, D B and Hall, B E, 2016. Strategic decision-making in mining – business optimisation using flexible evaluation models, in Proceedings Project Evaluation 2016, pp 215–225 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By R Knight

"In project evaluation there are two matters of keen interest to non-executive directors: the process by which an investment recommendation is reached, as well as the investment itself, as presented. It is sometimes mistakenly believed that Boards of directors are interested only in the result. That is not so. The process by which project evaluations are derived and socialised with the Board is as important as the result, sometimes more so.Setting aside the gloomy predictions of the doomsayers and looking through short-term volatility in supply and demand, the overall availability of mineral resources more often than not exceeds demand. There are in reality more development projects in prospect at any one time than are needed to meet the market. Only the fittest will prosper, although some others may survive.Optimism springs eternal in the mining industry and every project promoter, executive or entrepreneur has a convincing project development case. Some will create value for shareholders, but the historical evidence suggests that many will fail to meet the expectations set in their evaluation.Boards of directors make the final decision to invest, or not, in a new mine. Knowledge is power, and on that basis the balance of power favours management. Management has the facts (or in some cases, what passes for fact) and the passion to invest. The non-executives have the power of approval – yes or no – but before making a decision directors must demonstrate due diligence, the essential precursor to project approval.Management has a vital part to play in facilitating that due diligence process and in encouraging the independent thought processes of the Board. A closed approach by management fosters a negative, risk-averse attitude on the part of the Board. One that encourages an understanding of the rigour of the project evaluation process and the robustness of the result will allow directors to understand better the implications of their decision.CITATION:Knight, R, 2016. Project evaluation – a non-executive director’s perspective, in Proceedings Project Evaluation 2016, pp 11–19 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

"Recognising that the mining industry is wedded to the break-even cut-off grade rather than a cut-off grade that optimises value, the author examines some perils and pitfalls in the use of break-even grades that lead to what the author calls ‘negatively geared ore reserves’.Negatively geared ore reserves occur when a portion of the ore reserves actually has a negative value and is effectively being subsidised by the more profitable portion of the ore reserves. This situation is generally difficult to detect with the level of information available to the public investor. The ore reserves can still be quite profitable in total, but now possess a level of risk that may not be appreciated.The risk profile (financial risk) of a negatively geared ore reserve is far greater than for a non-negatively geared ore reserve. Like a negatively geared investment property in a falling property market (for readers familiar with the Australian tax minimisation investment strategy), when the price of a commodity falls, a company that possesses a negatively geared ore reserve loses value at a magnified rate relative to a company that has a neutral or positively geared ore reserve. In the extreme case of a major commodity price reduction, as happened with the gold price in mid-2013, the negatively geared ore reserve can easily become negative value in total, not just in part.The negatively geared ore reserve is sometimes intentional – for instance in order to increase published ore reserve tonnages and meet the CEO’s key performance indicators – but is also often unintentional, resulting from various errors in the break-even calculation. Common errors in calculating a break-even grade include using fixed metallurgical recoveries, not including allowances for ideal laboratory versus real plant results, ignoring available operational data and using modal rather than mean parameter values in cost and performance calculations.This paper examines a common value distribution profile in many ore reserves and the effect of common break-even grade errors on this profile.CITATION:Poniewierski, J, 2016. Negatively geared ore reserves – a major peril of the break-even cut-off grade, in Proceedings Project Evaluation 2016, pp 236–247 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By D Hunter, N Cusworth, J Miller

"Recent project failures have called into question the use and relevance of benchmarking and independent reviews, forcing a rethink of traditional processes and procedures.With cost estimates and schedules dramatically varying from lows seen around the global financial crisis to peaks experienced in the recent mining boom, benchmarking has ranged between essential and misleading.Profound shifts are now underway in future project delivery strategies as the market moves away from cost-plus engineering, procurement and construction management. The current trends in project implementation are to utilise more lump-sum design and construct or fixed-price supply and construct contracts. This trend will remove transparency in detailed cost information by reducing the sources and clarity of cost data.Independent peer reviews (IPRs) of studies and investment recommendations performed over the last decade have both failed to prevent flawed or deficient projects from proceeding to approval and funding, and been successful in ensuring that owners did not proceed with doomed investments.In recent times, it has been recognised by some owners, contractors and engineers that traditional benchmarking checks or IPRs, or a combination of both, will not necessarily produce reliable assessments of study conclusions and of the forecasts of project outcomes. To be of value, the benchmarking process now also needs to recognise the highly volatile responses from the engineering and construction industry to the current and future markets for their services.Similarly, reviewers who draw upon benchmarks of past project experiences on an understanding of the things that shaped and influenced their outcomes need to be more aware of how a future dynamic market may impact the outcome of the projects and raise warning flags accordingly.With the commodity cycle currently approaching what is hoped is its bottom, ensuring that benchmarking and independent reviews evolve into reliable, transparent and worthwhile processes becomes even more important. This can only be achieved with more transparent and analytical benchmarking and business-orientated reviews that both recognise and calculate the impacts of dynamic markets on project implementation.CITATION:Cusworth, N, Hunter, D and Miller, J, 2016. The role of benchmarking and independent reviews, in Proceedings Project Evaluation 2016, pp 249–259 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By R Jacobs

"The Jaguar project is relatively unique in that it was evaluated, financed, built and operated to completion within the last ten years, providing the opportunity to holistically review and reconcile expectations against the actual outcomes. It is a case study that allows wider conclusions to be drawn with respect to the risks and opportunities involved with project evaluation and execution.Jaguar is located in the Leonora Mining District of Western Australia and was commissioned in mid-2007 as an underground accessed, single high-grade volcanic-hosted massive sulfide (VHMS) deposit with an on-site concentrator, producing copper and zinc concentrates exported via the Port of Geraldton to South-East Asian markets.The feasibility study (FS) had several iterations (JML, 2005a); the last dated July 2005 was specifically targeted to secure project funding, and summarised the reserves-only portion of the resource and its planned exploitation. The commissioning of the mine was the transition for the owner Jabiru Metals NL from junior explorer to producer and the project was the dominant asset of the company.Jaguar operated through several significant deviations from the linear project plan set out in the FS, including the Global Financial Crisis (GFC), a corporate takeover and disruption to the mine plan from the onset of material geotechnical issues. Whilst the GFC or mining disruption were not specifically predicted in the FS or peer reviews, the generic effects of the events were assessed in the project risk assessment and they influenced subsequent management decisions. In parallel to the internal project-specific risks, the short planned life of Jaguar was a risk to the continuation of the corporate entity which was being addressed by significant investment into brownfields exploration to extend or replicate the project, and ultimately added value such that attracted a corporate takeover.Holistically, the project delivered the returns predicted in the FS, but in a much different guise than was expected. This paper will describe the reality of operations compared with the study predictions and expectations through the perspective of the project and corporate risk assessment.CITATION:Jacobs, R, 2016. Jaguar base metals project case study – has reality reflected the study?, in Proceedings Project Evaluation 2016, pp 86–97 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Mar 8, 2016

By Phillip R. Mulligan, Kevin Gantz, Aaron J. Ward, allen shirley, Sean Treadway

Understanding the impulse transferred into a structure by the coupled two-phase loading produced by an explosive charge buried in soil is of interest for various applications. The most common impulse measurement technique involves a buried explosive charge and a steel plate/test structure suspended above the charge. Upon detonation of the charge, the soil and overpressure heave the plate into the air. The plate’s trajectory and velocity provide the necessary information to calculate the total impulse transferred from the charge configuration.

Jan 1, 2016

By R. G. Eggert

"A critical element, as the term has come to be used, provides essential properties to a modern engineered material and is subject to supply risk. The rare-earth elements became perhaps the most prominent of the critical elements in recent years because of their important uses in permanent magnets, advanced lighting, and military materials; the geographic concentration of production in China; and the dramatic run-up in prices in 2010-2011 followed by price collapse between 2011 and 2016. Yet criticality extends beyond the rare earths. What is critical depends on your perspective – who and where you are, and when you ask. This paper reviews the many perspectives on, or faces of, critical elements. It compares and contrasts perspectives of industry (General Electric), national or regional manufacturing sectors (Japan, European Union), emerging energy technologies (as seen by U.S. Department of Energy and, separately, Joint Research Centre of the European Commission) and the world as a whole (as evaluated by academics). This comparison reveals a diversity of not only perspectives but also methodologies and time frames of concern.INTRODUCTIONRare-earth elements appeared prominently in the news in 2010 and 2011 because of the dramatic increase in their prices; their important uses in permanent magnets, advanced lighting, and military materials combined with the geographic concentration of production in China, which reduced export quotas significantly. Rare earths became the most prominent of what have become known as critical elements or materials – that is, those that provide essential properties to modern engineered materials and yet are subject to supply risks.Yet criticality, the state of being both essential and subject to supply risks, extends beyond rare earths. What is critical depends on your perspective. This paper begins by reviewing a little history and presenting a general conceptual framework from which to think about critical materials. It then reviews the many perspectives on, or faces of, critical elements – corporate, national, and global, as well several that focus on emerging energy technologies. The paper concludes with thoughts on what to do to mitigate the potentially negative effects of the supply risks associated with criticality."

Jan 1, 2016

By Rob Farnfield, Ben Williams, Ashley Haslett, Diane Cartledge

Major accidents that occur within our industry are often tragic and expensive, damaging reputation and threaten the livelihood of the business. There isn’t anything in them that can be seen as positive for those that experience them. They undertake what are usually very painful, detailed and time consuming investigations to discover how the incident occurred and what needs to be done in the future to prevent similar incidents occurring. Many admirably choose to share the lessons learnt through industry organizations such as SAFEX International so that we can all have the opportunity of preventing similar incidents from occurring within our own organizations.

Jan 1, 2016

By Anthony J. Konya

"This paper was written during part of the author’s student co-op with Cargill Salt at its Avery Islandunderground salt mine in Louisiana. Blasting salt is a unique type of blasting that is different than blasting other rock types. The plastic nature of salt, along with its large swell factor make salt a challenge to blast. The Cargill salt mines use and have tested a variety of different methods for breaking salt in an efficient manner, however these blasting methods are rarely used in other operations nor talked about today."

Jan 1, 2016

By Lifeng Li, Jhon Silva-Castro

In a previous work, the authors analyzed the overlapping probability of two adjacent charges in a single hole for pyrotechnic and electronic detonators. This document extends such work to a complete mine blast where more than two holes are detonated. In a mine blast, all the blast holes are connected as a network by detonators to follow a given initiation sequence. Such initiation sequence’s performance is based on the adequate timing between charges in the mine blast. The analysis of the reliability of a mine blast based on the timing between charges and the initiation type is presented in this document. For a long-run time and under proposed operating conditions, the reliability of the mine blast can be analyzed based on the network which is treated as a system. The failure of the system is defined as no success between any two delays charges either in a single hole or in between two holes.

Jan 1, 2016

By M. Poulton, J. A. Botín, C. Gatica

"The Chilean minerals industry faces a shortage of 27.000 new skilled professional by 2023. Enhancing the integration of women into the workforce is a possible solution. This study analyzes the state of women in the mining workforce over the past decade. Several key indicators are presented: percent in the workforce, salaries, career profiles, presence at management level, and participation in academia are studied. The study also analyzes the strategies used by government, industry, and universities to recruit and retain women for the minerals industry. The main results show that women represent 7.4% of the mining workforce in Chile and less than 1% of senior positions with a salary gap of approximately 30%. Systematically, women prefer professional programs in geology, chemistry, and environmental areas. The Chilean statistics are compared to data from the United States mining industry. INTRODUCTION The Chilean mining industry faces a significant shortage of professionals for the next decade which compromises competitiveness and productivity. The demand for human capital in mining depends on several factors. First, the age structure of workforce, which determines future retirement needs. Second, minerals market considerations, determining the amount and size of mining projects entering production in the coming years. Third, the evolution, positive or negative, of productivity, mainly driven by technology and innovation, and negatively affected by the declining ore grades. Finally, negative trends in lead times to production of mining projects, due to social opposition, changing regulations and other project contingencies, negatively affecting the demand for human capital. Regarding the supply of human capital, the fast increase in the technology level of the minerals industry and hence, the increase of technical qualification requirements of the human capital generates a rise in the time required for trade and university education of mining professionals, which may cause imbalances in the labor market. According to (Consejo Minero, 2014) human capital gap in Chile by 2023 will be around 27.000 workers for extractive, processing and maintenance jobs, which represents 14% of the current workforce (Figure 1)."

Jan 1, 2016

By M. R. MacIver, M. P. Pawlik

"An image analysis method based on chord length distributions is applied to the batch settling of polyacrylamide flocculated kaolin suspensions. Two features of the interaggregate void space, the void chord length distribution mean and the white-to-black distribution ratio are extracted from an image series obtained over the two hour settling experiments. This approach produces three signal values, from two different probability distributions that can be measured as an indication of underlying sediment bed density and aggregation state. Further work is required on the physical interpretation of the signal, the image acquisition conditions, and the parameter selection methods. It is suggested that this chord length based feature extraction technique may be a useful signal to monitor during batch settling or thickening.INTRODUCTIONFew in situ techniques are available that can be used to directly measure aggregate properties within sediment beds in thickeners or secondary settlers. Typical process variables monitored include rake torque and height, bed level and pressure, feed rate and density, underflow rate and density, settling rate, and overflow turbidity; yet these process variables are only weakly related to process dynamics (Concha et al. 2014). Additional process monitoring signals, based on the direct measurement of aggregate properties could improve solid-liquid separation control and allow the extraction of more detailed information from batch settling experiments.Several optical methods exist for measurement of moving suspensions of aggregated solids in the dilute concentration regime, such as focused beam reflectance measurement (Peng and Williams 1994), and the turbidity fluctuation method (Gregory 1985). In the more concentrated region of a thickener, acoustic backscatter penetration and attenuation measured with an acoustic probe and changes in the underlying solid concentration in the highly concentrated, near-bed region of a thickener as a function of height and time (Hunter et al. 2012). While machine vision for froth monitoring has been thoroughly studied with at least five commercialized technologies (Aldrich et al. 2010), its’ application to the study of thickening has been limited."

Jan 1, 2016

By C. Pace, D. Darlington, A. Montera, C. Lingren

"A phosphate beneficiation plant in Utah is using isotope-based Prompt Gamma Neutron Activation Analysis (PGNAA) technology to analyze the entire slurry streams of the incoming feed and final product in order to adjust the flotation circuits in near real time and optimize the plant output. The plant has gained greatly improved visibility/control and has reduced product variability for improved profitability and product quality. This paper takes a look at the economics as well as application details and the difference this technology provides in a phosphate application. SIMPLOT PHOSPHATES INTRODUCTION Simplot’s Vernal, Utah Phosphate Mine and Mill are located in the northeast corner of the state in the Uinta Mountains along US Highway 191, eleven miles north of the town of Vernal. The phosphoric acid and fertilizer plant fed by the Vernal mine is located 94 miles Northeast of Simplot Phosphates in Rock Springs, WY.At the Vernal plant, loader and shovel mining to 85 Ton capacity trucks is done at an annual rate of 3.8 Million tons of ore. Run of mine ore is crushed in a mineral sizer to minus 14 inch diameter at the rate 11,500 tons a day and transported to the SAG Mill’s 130,000 ton surge stockpile by overland belt. ORE RESERVES The ore is a Phosphoria Formation of sedimentary rock type dating to the Permian Age. The ore body rests over a 25 mile area on Weber Sandstone from the Pennsylvania and Permian geologic period. Layers of Phosphate Rock can vary in thickness from 0.3 up to 2.1 feet, alternating with layers of Mudstone. The eastern edge of the ore’s body Panel “G” runs 16 feet deep with a feed grade of 21.5% P205 with lower MgO diluents of less than 2.79%."

Jan 1, 2016

By Alejandro Ferrada Vergara

Most blasting techniques that are designed to improve fragmentation and subsequently improve ore work index to downstream comminution processes, apply powder or energy factor increases, either by stretching the drilling pattern (burden/spacing ratio) implementing faster initiation sequences or using more energetic explosives. The new application will move detonation parameters up, making the blasting process riskier for the surrounding boreholes, explosive column or initiation systems functioning.

Jan 1, 2016

By M. Soleymani Shishvan

"Continuous mining systems containing multiple excavators producing multiple products of raw materials are highly complex, exhibiting strong interdependency between constituents. Furthermore, random variables govern the system, which causes uncertainty in the supply of raw materials: uncertainty in knowledge about the reserve, the quantity demanded by the customers, and the breakdown of equipment. This paper presents a stochastic-based mine process simulator capturing different sources of uncertainties. It aims to quantify the effect of geological uncertainty and its impacts on the ability to deliver contractually defined quantities and qualities of coal, and on the system efficiency in terms of utilization of major equipment. Two different areas of research are combined: geostatistical simulation for capturing geological uncertainty, and stochastic process simulation to predict the performance and reliability of a large continuous mining system.The process of modelling and simulation in this specific production environment is discussed in detail. Problem specification and a new integrated simulation approach are presented. A case study in a large coal mine is used to demonstrate the impacts and evaluate the results in terms of reaching optimal production control decisions to increase average equipment utilization and control coal quality and quantity. The new approach is expected to lead to more robust decisions, improved efficiencies, and better coal quality management.IntroductionContinuous coal mining systems containing multiple excavators producing multiple products of raw materials are highly complex and exhibit strong interdependencies between constituents. A network of conveyor belts is used for transportation of the extracted materials to different waste dumps or the coal stockpile.Optimal decision-making in short-term planning and production control are impacted mainly by geological uncertainty associated with incomplete knowledge of the coal deposit represented in the reserve block model. These uncertainties cause deviations from expected process performance. For more robust decision-making, understanding the impacts of these stochastic elements plays a key role."

Jan 1, 2016