An Introduction to Cut-Off Grade Estimation, Second Edition by Jean-Michel Rendu

By Jean-Michel Rendu

An creation to Cut-off Grade Estimation examines probably the most very important calculations within the mining undefined. Cut-off grades are necessary to deciding upon the industrial feasibility and mine lifetime of a undertaking. Profitability and socioeconomic impression of mining operations are stimulated by way of the alternative of cut-off grades. Cut-off grades play a key function in estimating mineral reserves that may be publicly reported.

This re-creation is less complicated to learn and of larger functional curiosity to practitioners. the connection among optimization of web current price, skill constraints, and chance fee is defined in higher aspect. a brand new part discusses mixing ideas, which play a serious function in increasingly more mining operations.

Author Jean-Michel Rendu, an the world over well-known professional within the administration, estimation, and public reporting of mineral assets, presents functional insights. As a supervisor in significant mining businesses, a expert, and an educator, Rendu has obtained substantial adventure in all points of mining engineering, adventure that was once included 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 cutting edge in their profession.

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Extra resources for An Introduction to Cut-Off Grade Estimation, Second Edition

Sample text

All rights reserved. Breakeven Cut-off Grade 43 The expected revenues from sales are x ∙ rstp ∙ (Vstp – Rstp). The cut-off grade between waste and stockpile is xc = (expected re-handling and processing costs) ( rstp ⋅ Vstp − R stp ) Net present values do not enter in this equation. If the assumptions concerning prices, costs, and recoveries that will prevail at the time of processing are independent of time, the cut-off grade will also be independent of when the stockpile is processed. Special Case: High-Cost Waste Dumps Other situations occur where the cost of maintaining mineralized waste dumps is as high as that of stockpiling low-grade material for future processing.

Opportunity costs must be taken into account to quantify how the project net present value is modified over time by changing cut-off grade and mine plan. In this section, only undiscounted cash flows are taken into account, without discounting. Opportunity costs will be discussed in Chapter 4. The minimum conditions that must be satisfied to justify development of a new stope and how to determine the locations of stope boundaries, are two aspects of underground mining that are discussed in the next sections (see Figure 3-5).

Special Case: High-Cost Waste Dumps Other situations occur where the cost of maintaining mineralized waste dumps is as high as that of stockpiling low-grade material for future processing. However, waste dumps must be maintained for life, whereas low-grade stockpiles will be processed. If the expected life of the stockpile is n years and C is the yearly cost of maintaining either the stockpile or the waste dump, the net present value of maintenance costs is* Pwaste = C g ( i,n ) + C (1 + i ) i Pstp = C g ( i,n ) C g(i,n) is the net present value of a constant cash flow C over n years.

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