The poor reconciliation between the values of estimated and actual grades can cause major economic losses to the mining industry. In a mining operation grade reconciliation is comparing the values of estimated grade calculated in exploration stage with actual grade obtained from blastholes' data. Many different factors affect the degree of reconciliation in a mining operation. In this paper we investigate the factors related to estimated grade which affects the reconciliation process in the exploration stage of the orebody. These factors are the sources of uncertainty in the rest of mine life. In this area the most important factors are inherent variability, statistical uncertainty and systematic uncertainty. A probabilistic model was presented to model each source of uncertainty. The implementation of proposed model was checked and its validity was investigated using real data in an iron open pit mine in Iran._x000D_
FORMAL CITATION:Parhizkar, A, Ataee, M, Moarefvand, P, Rasouli, V and Bangian, A H, 2010. A new model to improve ore grade reconciliation between the exploration model and the mine, in Proceedings Mine Planning and Equipment Selection (MPES) 2010, pp 89-94 (The Australasian Institute of Mining and Metallurgy: Melbourne).