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Paper Information

Title: 

DETERMINATION OF OPEN PIT/UNDERGROUND MINING LIMITS BY MAXIMIZING OF NET PRESENT VALUE

Type: PAPER
Author(s): SAYADI AHMAD REZA,SHAHRIAR K.,KARIMINASAB S.,SAMIMI NAMIN F.*
 
 *MINING ENGINEERING DEPT., AMIR KABIR UNIVERSITY
 
Name of Seminar: PROCEEDING OF IRANIAN MINING ENGINEERING CONFERENCE
Type of Seminar:  CONFERENCE
Sponsor:  IRANIAN SOCIETY OF MINING ENGINEERING
Date:  2005Volume 1
 
 
Abstract: 

Exploitation of mine deepening open pit encounters several technical and economical problems. For this reason the break-even dept for extraction of ore using open pit methods is determined. Different approaches have been proposed for determining open pit/underground limit. In this paper, using maximization of net present value (Nilsson‘s approach 1982) open pit/underground limit in NO.3 deposit of Golgohar (GEG) iron ore mine is determined. This deposit is a stratiform one and is extended in the N-S direction, the length of which is 2200 m and 2400 m in the N-S and W-E direction, respectively. Estimation for geological reserves is more than 600Mt magnetite with an average grade of Fe 53.8%. The average thickness varies from 90 to 140 m.
Different scenarios have been examined for selection of optimum dept as limit between open pit and underground mining. On the basis of this research, a dept of 250 m is considered to be suitable as break-even point.

 
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