Melola Discovery

← Melola Discovery

Akses terbuka Jurnal SINTA 1

From resources to reserves: a real option approach to quarry mining in the Aimasi River, West Papua

Journal of Degraded and Mining Lands Management · Vol. 13 No. 1 (2026) · hlm. 9343–9354

DOI
10.15243/jdmlm.2026.131.9343
ISSN
2502-2458, 2339-076X
Terbit
2026-01-01
Penerbit
Brawijaya University
Bahasa
eng
Lisensi
creativecommons.org/licenses/by-nc/4.0

Abstrak

The Aimasi River in West Papua contains substantial sand and gravel deposits with potential for quarry development. While previous assessments emphasized geological aspects, their economic feasibility has not been systematically examined. This study applied Net Present Value (NPV) and Real Options Analysis (ROA) to evaluate the viability of investments and their implications for converting resources into reserves. The NPV of the proposed project is USD 5,915.56, which is considerably lower than the option value of deferring the investment for one year (USD 116,197.59). Extending the decision horizon from one to three years raises the option value from USD 61,650.15 to USD 116,197.59. Several nodes yield positive payoffs, supporting immediate investment (classified as proved reserves) or deferral (classified as probable reserves), while nodes with zero payoffs are more appropriately classified as resources. These findings demonstrate the value of ROA in bridging geological potential and economic feasibility, thereby strengthening the framework for resource-to-reserve conversion in small-scale quarry mining.

Kata kunci

Jaringan kolaborasi para penulis

10 penulis · 15 tautan kepenulisan bersama · 6 lintas organisasi

Arahkan kursor atau ketuk sebuah nama untuk menyorot rekan penulisnya. Klik dua kali untuk membuka halaman penulis.

  • State University of Semarang
  • Universitas Papua
  • Kementerian Pemuda dan Olahraga Republik Indonesia
  • Diponegoro University
  • Organisasi berbeda
  • Organisasi sama
  • Afiliasi tidak diketahui
  • Garis lebih tebal = lebih banyak artikel bersama · lingkaran lebih besar = lebih banyak artikel
Tampilkan sebagai tabel
Rekan penulisOrganisasiArtikel bersama
Nani Sri NarniState University of Semarang1
Nasuka NasukaState University of Semarang1
Rivan Saghita PratamaState University of Semarang1
Wahyu Astri HanaState University of Semarang1
Hermawan HermawanDiponegoro University1
Agung Hadi SaputroKementerian Pemuda dan Olahraga Republik Indonesia1
Rubianto HadiState University of Semarang1
Afzal KhanState University of Semarang1

Afiliasi berasal dari OpenAlex; metadata OAI-PMH jurnal tidak memuatnya. Penulis tanpa ID OpenAlex dicocokkan berdasarkan nama, sehingga dua orang bisa tergabung atau satu orang bisa terpisah.

Sumber metadata: OAI-PMH (metadata jurnal) http://jdmlm.ub.ac.id/index.php/jdmlm/oai, pertama di-harvest 9 Nov 2026, terakhir terlihat 9 Nov 2026.
Metadata asli (oai_dc) 
<oai_dc:dc xmlns="http://www.openarchives.org/OAI/2.0/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:oai_dc="http://www.openarchives.org/OAI/2.0/oai_dc/" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.openarchives.org/OAI/2.0/oai_dc/  http://www.openarchives.org/OAI/2.0/oai_dc.xsd">
	<dc:title xml:lang="en-US">From resources to reserves: a real option approach to quarry mining in the Aimasi River, West Papua</dc:title>
	<dc:creator>Setiawan, Arif</dc:creator>
	<dc:creator>Hutapea, Ricardo O. M.</dc:creator>
	<dc:subject xml:lang="en-US">Aimasi River</dc:subject>
	<dc:subject xml:lang="en-US">Net Present Value (NPV)</dc:subject>
	<dc:subject xml:lang="en-US">quarry mining</dc:subject>
	<dc:subject xml:lang="en-US">Real Options Analysis (ROA)</dc:subject>
	<dc:subject xml:lang="en-US">resource-to-reserve conversion</dc:subject>
	<dc:subject xml:lang="en-US">West Papua</dc:subject>
	<dc:description xml:lang="en-US">The Aimasi River in West Papua contains substantial sand and gravel deposits with potential for quarry development. While previous assessments emphasized geological aspects, their economic feasibility has not been systematically examined. This study applied Net Present Value (NPV) and Real Options Analysis (ROA) to evaluate the viability of investments and their implications for converting resources into reserves. The NPV of the proposed project is USD 5,915.56, which is considerably lower than the option value of deferring the investment for one year (USD 116,197.59). Extending the decision horizon from one to three years raises the option value from USD 61,650.15 to USD 116,197.59. Several nodes yield positive payoffs, supporting immediate investment (classified as proved reserves) or deferral (classified as probable reserves), while nodes with zero payoffs are more appropriately classified as resources. These findings demonstrate the value of ROA in bridging geological potential and economic feasibility, thereby strengthening the framework for resource-to-reserve conversion in small-scale quarry mining.</dc:description>
	<dc:publisher xml:lang="en-US">Brawijaya University</dc:publisher>
	<dc:date>2026-01-01</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://jdmlm.ub.ac.id/index.php/jdmlm/article/view/17441</dc:identifier>
	<dc:identifier>10.15243/jdmlm.2026.131.9343</dc:identifier>
	<dc:source xml:lang="en-US">Journal of Degraded and Mining Lands Management; Vol. 13 No. 1 (2026); 9343-9354</dc:source>
	<dc:source>2502-2458</dc:source>
	<dc:source>2339-076X</dc:source>
	<dc:source>10.15243/jdmlm.2026.131</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://jdmlm.ub.ac.id/index.php/jdmlm/article/view/17441/1869</dc:relation>
	<dc:rights xml:lang="en-US">Copyright (c) 2026 Journal of Degraded and Mining Lands Management</dc:rights>
	<dc:rights xml:lang="en-US">https://creativecommons.org/licenses/by-nc/4.0</dc:rights>
</oai_dc:dc>