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

K. R. Long

doi:10.1007/s11053-009-9088-y

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

K. R. Long

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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.

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K. R. Long. 2009-01-30. A test and re-estimation of Taylor's empirical capacity-reserve relationship. https://doi.org/10.1007/s11053-009-9088-y

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