Dynamic coal mine model. [Generic feedback-loop model]
This study examines the determinants of the productive life cycle of a single hypothetical coal mine. The article addresses the questions of how long the mine will operate, what its annual production will be, and what percentage of the resource base will be recovered. As greatly expanded production requires capital investment, the investment decision is singled out as the principal determinant of the mine's dynamic behavior. A simple dynamic feedback loop model was constructed, the performance of which is compared with actual data to see how well the model can reproduce known behavior. Exogenous variables, such as the price of coal, the wage rate, operating costs, and the tax structure, are then changed to see how these changes affect the mine's performance.
- Research Organization:
- Geological Survey, Reston, VA
- OSTI ID:
- 5021172
- Journal Information:
- Energy Syst. Policy; (United States), Vol. 2:2
- Country of Publication:
- United States
- Language:
- English
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Related Subjects
POLICY AND ECONOMY
01 COAL, LIGNITE, AND PEAT
COAL MINES
LIFE-CYCLE COST
SIMULATION
ENERGY MODELS
CAPITAL
COAL MINING
DECISION MAKING
ECONOMETRICS
ECONOMICS
INVESTMENT
OPERATION
PERFORMANCE
RECOVERY
TAXES
COST
MINES
MINING
294001* - Energy Planning & Policy- Coal
290100 - Energy Planning & Policy- Energy Analysis & Modeling
012000 - Coal
Lignite
& Peat- Mining