Determination of optimal cutoff grade policy for an copper mine in Turkey
The objective of the planning process for an open pit is usually to find optimum annual schedules that will give the highest Net Present Value (NPV) while various production,blending,sequencing and pit slope constraints. In the paper,the cutoff grade policy,one of the most important parameters which affects the strategic mine planning process,was studied considering the all constraints mentioned above for a copper mine in Turkey. This paper describes the process to determine the cutoff grade strategy used in a mining operation based on Lanes algorithm using an optimisation factor which is iteratively calculated for every production year which dynamically adjusts the remaining reserves and thus the total life of the mine to maximise the project NPV. The introduced algorithm is an adaptation from Lanes algorithm that incorporates an iterative routine used to calculate the optimisation factor embedded in the cutoff grade equation. The authors have observed an improvement of the total NPV using the general reduced gradient (GRG) approach.
Mineral Economics Net Present Value Cutoff Grade Open Pit Mining
Atac Bascetin Antonio Nieto Serkan Tuylua
Istanbul University,Engineering Faculty,Mining Engineering Department,34320,Avcilar,Istanbul/Turkey Virginia Polytechnic Institute and State University,Mining and Minerals Engineering,100 Holden Hall,
国际会议
北京
英文
307-315
2008-10-20（万方平台首次上网日期，不代表论文的发表时间）