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economics of open pit mining

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open pit mining | intechopen

Oct 08, 2019 · Open pit mining method is one of the surface mining methods that has a traditional cone-shaped excavation and is usually employed to exploit a near-surface, nonselective and low-grade zones deposits. It often results in high productivity and requires large capital investments, low operating costs, and good safety conditions. The main topics that will be discussed in this chapter will include

easy profit maximization method for open-pit mining

Oct 01, 2013 · It consists in defining the hourly profit function L ($/h) by the following relation: (1) L = P T U V − P (M + E R + B) − F where P (t/h) is the hourly production of the mine, which is sent to the mill; T (%) is the average grade of ore that is mined; U (%) is the metal recovery rate obtained in the concentration plant; V ($/t) is the sales price per ton of metal (or useful substance) out of the plant; M ($/t) is the cost …

open pit mining - an overview | sciencedirect topics

Large, low-grade ore deposits are usually economically attractive because it permits high recovery of the resource and allows sufficient space for large and efficient mining equipment. An open pit mine could recover almost 90% of the oil shale in a very thick deposit [17]. It is said that strip mining could provide an even higher recovery

open-pit mining methods

Apr 08, 2020 · The question of whether to mine by open-pit or underground methods is an economic one. The economic limit for open-pit mining is reached when the preparatory and stripping costs per ton of ore plus the open-pit mining cost per ton of ore plus the cost of equipment, interest, and amortization charges equal the cost per ton by mining underground plus equipment and development cost and interest and …

everything you need to know about open pit mining

Nov 01, 2018 · Increased Efficiency. One of the biggest benefits open pit mining produces is the growth in the overall efficiency when compared to deep-shaft mining methods. Mining occurs on the surface, so there aren't any space restrictions arising from narrow tunnels and shafts

open pit development | nevada copper corp

Strong economics for the open pit production plan. LoM of 37kstpd for 6 years and then 13 years at 70kstpd production rate (19 years) Timing of expansion to 70kstpd is flexible and decision will be based on market conditions. There is no obligation to expand in a specific year for technical reasons

open-pit mining definition | anglo american

Open-pit mining is the most common method used throughout the world for mineral mining and does not require extractive methods or tunnels. This surface mining technique is used when mineral or ore deposits are found relatively close to the surface of the earth. Open-pits are sometimes called ‘quarries’ when they produce building materials and dimension stone. Benefits of open-pit mining include: Ease …

surface mining planning and design of open pit mining

1.2) Open pit Mining method Mine working open to the surface. It is usually employed to exploit a near- surface deposit or one that has a low stripping ratio. Operation designed to extract mineral deposits that lie close to the surface. It is used when the orebody is near the surface and little overburden (waste rock) needs to be removed. Large hole exposes the ore body. Waste rock (overburden) is removed. It often …

environmental risks of mining

Open pit mining, where material is excavated from an open pit, is one of the most common forms of mining for strategic minerals. This type of mining is particularly damaging to the environment because strategic minerals are often only available in small concentrations, which increases the amount of ore needed to be mined

eo 130 seen leading to lifting of open-pit mining ban

1 day ago · Open-pit or surface mining has been a contentious issue among miners and environmental advocates. The Chamber of Mines of the Philippines (COMP) said it is a globally accepted mining …

(pdf) mining methods-part ii: surface mining-planning and

Mining Methods, Surface mining. 2.1) Introduction. As the first step for long or short-range planning, the limits of the open pit. must be set. The limits (ultimate pit) define the amount of ore

open pit optimizationstrategies for improving economics

The most open pit mines are designed and scheduled by using cutoff grades that are calculated by using breakeven economic analysis. The use of breakeven cutoff grades during open pit planning results in schedules that maximize the undiscounted profits (Dagdelen, 1992)

slope angle influence in the economic value of an open pit

The theory behind this approach is that the deepest is the operation or the highest is the slope angle in an open pit mine, the fastest is the extraction of reserves and the best is the economic result

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