By Jean-Michel Rendu
An advent to Cut-off Grade Estimation examines probably the most vital calculations within the mining undefined. Cut-off grades are necessary to picking the commercial feasibility and mine lifetime of a venture. Profitability and socioeconomic influence of mining operations are encouraged through the alternative of cut-off grades. Cut-off grades play a key function in estimating mineral reserves that may be publicly reported.
This new version is less complicated to learn and of higher useful curiosity to practitioners. the connection among optimization of web current worth, capability constraints, and chance price is defined in better aspect. a brand new part discusses mixing ideas, which play a severe position in more and more mining operations.
Author Jean-Michel Rendu, an the world over well-known specialist within the administration, estimation, and public reporting of mineral assets, offers functional insights. As a supervisor in significant mining businesses, a specialist, and an educator, Rendu has obtained substantial adventure in all points of mining engineering, adventure that was once integrated into this publication.
This is a must-read for mine managers, analysts, geologists, mining engineers, and public policymakers who are looking to remain at the innovative in their profession.
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Extra resources for An Introduction to Cut-Off Grade Estimation, Second Edition
40 g/t if the recovery could be maintained at 65%. Laboratory tests confirmed that recovery was independent of grade, and the decision was made to lower the cut-off grade and add the lower-grade material to the pad. After two months of operation, managers realized that the gold production target for the year was not going to be met. If nothing changed, the amount of gold sold was going to be less than expected before the cut-off grade was decreased. Management immediately requested a review of the situation.
This calculation must be made on a discounted basis, taking all physical constraints into account. Optimization of Stope Size When designing a stope, one must take into account the constraints imposed by mining method and geotechnical conditions. One must also determine whether lower-grade material located along the boundary of the stope should be included in the stope. Such material should be mined only if the expected value of the recoverable product it contains exceeds all incremental costs, including mining, haulage, processing, backfilling, and other costs.
The loss is represented by the difference between the utility of the chosen process and that of the optimal process for the same average grade. Figure 3-13 shows the opportunity cost incurred per metric ton when a leach-mill cut-off grade of 5 g/t is used. Mathematical Formulation Let U1(x) be the utility of leaching one metric ton of material of grade x and U2(x) be the utility of milling the same metric ton. These utilities can be written as follows (in these equations the cost of sales R is included in V, and the overhead costs Oo are included in Mo, Po1, and Po2): U1 ( x ) = x ⋅ r1 ⋅ V − ( M o + Po1 ) U 2 ( x ) = x ⋅ r2 ⋅ V − ( Mo + Po2 ) The optimal cut-off grade is x c = ( Po1 − Po2 ) ( r1 − r2 ) V Copyright © 2013 Society for Mining, Metallurgy, and Exploration, Inc.