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. A modified real case study will be used to ...

The optimization study was based on three scenarios namely: (i) open pit mining only (OP); (ii) open stope mining only (OS); and (iii) concurrent open pit and open stope mining (COPOS). All scenarios were based on a high pre-production capital with corresponding lower operating costs.

Mining capital cost (MCC) is one of the essential criteria for assessing the feasibility of an open-pit mine (or underground mine). The MCC heavily influences the net present value (NPV) of the projects over the lifetime of the mine.

The steepness of the slopes of an open pit mine has a substantial influence on the financial return of the mine. The paper proposes a novel design methodology where overall steeper pitwalls are employed without compromising the safety of the mine. In current design practice, pitwall profiles are often planar in cross-section within each rock …

Total costs are one of the important parameters that affect equipment selection given that the operating cost of load-and-haul systems amount to 60% of the overall expenses of an open-pit mine . If the same production capacity can be achieved with different types of haulage systems, then optimization boils down to optimizing costs.

In the proposed method, the optimal cutoff grade starts at 0.503% and at the end of the project lifetime to 0.22%. as well as the NPV obtained from the proposed method is $ 94,408,000. In the PSO algorithm, optimum cutoff grade at the start of the project of 0.512% and at the end of life reaching 0.225% and the NPV is $ 94,867,884.

The standard optimization of open-pit mine design and production scheduling, which is impacted by a variety of factors, is an essential part of mining activities. ... operating and capital costs ...

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 [20]. Considerable attention has been paid to the factors that affect excavator performance [21], especially during the bucket cycle [22,23]. The most commonly used excavators are ...

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. In this model, MineAP (annual mine production), SR (stripping ratio), MillAP …

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" to improve economics of open pit mining projects through the use of mathematical optimization techniques goes back to early 1960's.

@article{Zhang2020DevelopingAN, title={Developing a novel artificial intelligence model to estimate the capital cost of mining projects using deep neural network-based ant colony optimization algorithm}, author={Hong Zhang and Hoang Nguyen and Xu{^a}n-Nam Bui and Trung Nguyen-Thoi and Thu-Thuy Bui and Nga …

Abstract: 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 …

Abstract and Figures. The overall steepness of pitwalls significantly influences the financial return of an open pit mine. In current practice, pitwall profiles are planar in cross-section. In ...

To establish the fundamental principle of this model, in the beginning, capital cost data of the 52 open pit porphyry copper mine were stored in a database. Section snippets Literature review. ... open pit mining methods, open pit optimization techniques, mine closure, reclamation, and mine sustainable development. Professor Osanloo …

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 are ...

The typical design process is illustrated in Figure 1. There are two principal methods to determine the shape of the optimal pit, namely the floating cone method (Laurich, 1990) and the method defined by Lerchs and Grossmann (1965). This method provides an exact and computationally tractable method for open pit optimization.

This study considered and developed four artificial intelligence (AI) techniques to estimate mining capital cost (MCC) for open-pit copper mining projects with high accuracy, including...

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 …

capital cost for development and potential delays in production but can provide. ... Global optimization of open pit mining complexes with. uncertainty. Appl Soft Comput J 40(C):292–304. doi: ...

Abstract Ultimate pit limit optimization plays a major role in the mining industry as it serves as the elementary foundation of all the activities in mine planning. This paper reviews and documents some methods used in ultimate pit limit optimization and gives a clear insight of these algorithms, their functionalities and limitations to open up …

Technical and economical optimization ofThe impact of adapting Automated Haulage Systems to a. Technical and economical optimization of surface mining processes Development of a data base and a program structure Figure 10 Distribution of total capital costs in open pit min 26 Figure 11 A mobile in pit crusher 54 In this article we explore …

The implementation of mine planning software and mine monitoring systems have resulted in significant increases in production and revenue while realizing lower …

Open-pit mining plans include implementing operations throughout the entire life of the mine. In addition to geometric and geotechnical constraints, it is important to ensure an uninterrupted ore feed by optimizing production plan. In order to achieve this and at the same time maximize the net present value, the most well-known method is …

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 present value (NPV) of the projects over the lifetime of the mine. In open-pit mining, optimization issues in designing and mining planning have been made (e.g. Ahmadi and

This paper describes the result of a research program aiming to develop an innovative cost management methodology that applies Activity-Based Costing (ABC) and PDCA's Deming cycle tools to develop a cost …

Guo et al. (2019) tested multiple techniques to predict mining capital costs based on annual mine and mill production, reserves average grade and mine life for a dataset of 74 open-pit copper ...

An initial solution for the optimization of the gold complex was generated by: (i) Considering the current mining plan in the underground mine that was developed by the mine planners using Enhanced Production Scheduler (EPS) software; (ii) using Milawa scheduler in Whittle software for the open-pit using the e-type of the orebody …

The pit optimization for iron ore mine has been carried out successfully using Whittle Software to identify the optimal pit shell across a range of selling prices as …

"A stochastic optimization method with in-pit waste and tailings disposal for open pit life-of-mine production planning," Resources Policy, Elsevier, vol. 57(C), pages 112-121. David Easley & Maureen O'hara, 2004. "Information and the Cost of Capital," Journal of Finance, American Finance Association, vol. 59(4), pages 1553-1583, August.

Therefore, it is highly advisable to combine these three design parameters (e.g., safety, productivity, and cost) together when selecting overall slope angle of open-pit mines. View Show abstract