Mine Project Evaluation
Mine design and long-term production Scheduling is an intricate and critically important part of mining ventures.
It provides the technical plan to be followed from mine development to mine closure having a profound effect on the economic value of the mine.
The determination of an optimum production schedule is essentially a problem of trading net income early in the life of the mine for net income later in the life of the mine.
That is, a high production rate today may result in a larger current income; but the question is, will this income compensate for the loss of income at some future time because of depletion of the ore body or higher prices?
Also, there is not a dollar-for-dollar trade, since, at higher production rates, metallurgical efficiencies drop and, consequently, the income from a ton of ore drops.
ROMPEV‘s mathematical methods provide analytical tools and an advanced mine optimisation process for optimizing mine production scheduling considering not only economic and operational variables but also the effect of their inherent uncertainty; i.e., the effect of geological (metal grade), metal prices and operating costs uncertainties on project key indicators and value.
ROMPEV solutions for mine project evaluation and production scheduling covers the following:
- Mine plan and design selection
- Mine project throughput analysis (i.e., block /panel size selection and reserve estimation)
- Mine production schedule and cut-off grade optimisation
- Upside/Downside analysis
- Identification of data deficiency and high risk/potential areas (i.e., high/low grade variability, limited metallurgical design confidence and high/low cash flow)
- Risk analysis of key operating project indicators