Open pit optimization is the determination of the ultimate contour of the pit which maximizes the net present value for a given deposit subjected to a set of mining and economic constraints. The size and shape of the pit depends on economic factors and design or production constraints. ... The Lagrange model indicated that the capital costs can ...
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Mining capital cost (MCC) is one of the essential criteria for asses-sing the feasibility of an open-pit mine (or underground mine). The MCC heavily influences the net …
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and has reconfigured the open pit haulage network with an increase in the number of dumps. Therefore, new methods for dump design optimization are of the highest priority in mine planning management. This paper presents a methodology to model and optimize the design of a dump by minimizing the total haulage costs. The loca-
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This paper outlines open pit optimization techniques that were utilized in mine planning of Okobo Coal Reserve, Located in Enjema District of Ankpa Local Government Area, Kogi State, Nigeria, as a ... available for profit after covering capital costs, overhead, interest, taxes, and other cost better defined and applied during the economic ...
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production rates, operating capital cost, metallurgical performance and product quality. On the other hand, ... open pit optimization under uncertain market con-ditions.
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Cash Operating Costs: Total costs involved in the mining and processing operations (excluding depreciation and financing costs). Example : Cash costs can include …
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Open pit mines operation costs highly depends on material handling. 50 to 60 percent of operating costs in an open pit mine is spent on digging and transporting the material. So, reducing a small portion of it will save billions of dollars in a large open pit mine. Generally there are two ways to reduce this cost: transferring higher amount of
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The ultimate pit limit resulting from the optimization of the pit limit using Surpac is shown in Figure 7. The pit design is based on the mining method applied by the company, namely the open pit mining method. The open pit mining method is …
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This presentation will outline open pit optimization techniques that are available today and how they can be used to improve overall economics of projects that are being planned or in production. The open pit design and scheduling problem is a large-scale optimization problem that has attracted considerable attention during the last 40 years The development of the "know-how" …
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This study aims to propose a novel artificial intelligence model for forecasting the capital cost (CC) of open-pit mining projects with high accuracy. It is a unique combination of a deep neural network (DNN) and ant colony optimization (ACO) algorithm, abbreviated as ACO-DNN. ... open pit mining methods, open pit optimization techniques, mine ...
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Open pit mines operation costs highly depends on material handling. 50 to 60 percent of operating costs in an open pit mine is spent on digging and transporting the material.
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The trend for using larger equipment in open pit mining to achieve cost effectiveness raises the question about the optimum economic point of scale in the current world of globalization. The present paper treats this question …
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These include ultimate pit determination, production scheduling, cut-off grade optimization, cost (capital and operating cost) estimation and NPV calculation. All the values of planning parameters (physical, technical and economic) are assumed during the mine planning process of open cast mine. ... Vu, D.-A., Bui, X.-N.: Forecasting mining ...
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Unlock the secrets of open pit optimization with K-MINE software. Discover the critical steps, tools, and strategies to maximize profitability and ensure long-term success in mining operations. ... This includes capital expenditures for purchasing (or reactivating) equipment, contractor agreements, dewatering the site, constructing a processing ...
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The discount rate applied could be regarded as pure cost of capital. It is the rate of return a company must generate to compensate its investors. A risk-adjusted discount rate should be applied in the subsequent cash flow analysis. ... Open pit optimization - strategies for improving economics of mining projects through mine planning.
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this paper presents a simple adaptive mining cost optimization model with the intention of illustrating the importance of modelling different unit operations. In order to obtain the best …
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The Lagrange technique on Cobb-Douglas model was used to determine operating level using capital and labor cost. The historical cost profile of the mine shown in Table 8 was …
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Optimization of Open Pit Gold Mine Design Capacity Using Lag Modeling Approach A. A. Ordina,b,c* and I. V. Vasil'evd aChinakal Institute of Mining, ... account the economic damage due to freezing of capital costs in the period of mine construction. To this effect, (2)–(4) are added with a construction lag as a linear function of the mine ...
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Open pit mines operation costs highly depends on material handling. 50 to 60 percent of operating costs in an open pit mine is spent on digging and transporting the material.
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technology allowed open pit mines to have powerful desktop computers that can solve complex optimization problems on site. Due to applications of optimization techniques developed in the early 1960*s, for example, Chuquicamata Open Pit Mine in Chile re-evaluated their cutoff grade strategy and improved Net Present
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This study aims to propose a novel artificial intelligence model for forecasting the capital cost (CC) of open-pit mining projects with high accuracy.
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Because of high capacities, excellent flexibility, and relatively low operating and capital costs, excavators and dump trucks represent the most widely used load-and-haul method in open-pit mines . Considerable attention …
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This presentation attempts to layout a common path for dealing with capital costs and royalties in open pit optimization and mine design. A modified real case study is used to demonstrate the …
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This study analyzes the distribution of operating costs along the value chain of an open-pit copper mine with a focus on key operational units or operations such as drilling, blasting, loading, hauling, stockpiling, blending, …
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conditions, capital cost, operating cost, organizational complexity, and road infrastructure. The third phase evaluates the criteria and alternatives by fuzzy optimization and makes
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This presentation will outline open pit optimization techniques that are available today and how they can be used to improve overall economics of projects that are being planned or in production. ... Figures and Parameters used for …
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Initial development costs (permits, environmental studies). Stay in Business cost (major investment to be done later for equipment, expansion, etc.) Example: $100 million in initial capital costs ...
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In this paper, costs in open pit mines are categorized into four groups: (1) capital costs, (2) operating costs, (3) general and administrative (G&A) costs, and (4) fixed costs. Capital costs
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Repurposing a closed mine as lower reservoir is a cost-effective way for the construction of pumped storage hydropower (PSH) plant. This method can eliminate the expenses of mine reclamation, reservoir construction, and land acquisition, resulting in significant cost savings and benefits for the PSH project, known as the PSH benefit. The construction of PSH …
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The author(s) have found that there is no consensus about how to deal with royalties and sustaining capital costs in the process of the open pit mine design. This presentation is an attempt to layout a common path for dealing with these two important items and to open a forum to discuss it in detail.
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