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Case Study: Model for Economic Lifetime of Drilling Machines in the Swedish Mining Industry
Luleå University of Technology, Department of Civil, Environmental and Natural Resources Engineering, Operation, Maintenance and Acoustics.ORCID iD: 0000-0001-5620-5265
Luleå University of Technology, Department of Civil, Environmental and Natural Resources Engineering, Operation, Maintenance and Acoustics.ORCID iD: 0000-0001-7744-2155
Luleå University of Technology, Department of Civil, Environmental and Natural Resources Engineering, Operation, Maintenance and Acoustics.ORCID iD: 0000-0001-7083-4009
Luleå University of Technology, Department of Engineering Sciences and Mathematics, Mathematical Science.ORCID iD: 0000-0001-7656-7271
2015 (English)In: The Engineering Economist, ISSN 0013-791X, E-ISSN 1547-2701, Vol. 60, no 2, p. 138-154Article in journal (Refereed) Published
Abstract [en]

The purpose of this paper is to develop a practical economic replacement decision model to identify the economic lifetime of a mining drilling machine. A data driven optimisation model was developed for operating and maintenance costs, purchase price and machine resale value. Equivalent present value of these costs by using discount rate was considered. The proposed model shows that the absolute optimal replacement time (ORT) of a drilling machine used in one underground mine in Sweden is 115 months. Sensitivity and regression analysis show that the maintenance cost has the largest impact on the ORT of this machine. The proposed decision making model is applicable and useful and can be implemented within the mining industry.

Place, publisher, year, edition, pages
2015. Vol. 60, no 2, p. 138-154
National Category
Other Civil Engineering Probability Theory and Statistics
Research subject
Operation and Maintenance Engineering; Mathematical Statistics
Identifiers
URN: urn:nbn:se:ltu:diva-14705DOI: 10.1080/0013791X.2014.952466ISI: 000353499300003Scopus ID: 2-s2.0-84928644059Local ID: e20b5005-d939-4ebe-a128-136ec348a9c2OAI: oai:DiVA.org:ltu-14705DiVA, id: diva2:987678
Note

Validerad; 2015; Nivå 2; 20140915 (andbra)

Available from: 2016-09-29 Created: 2016-09-29 Last updated: 2023-09-14Bibliographically approved

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Al-Chalabi, HussanLundberg, JanAhmadi, AlirezaJonsson, Adam

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