Study on iron mining grade optimization method of open-pit mine based on marginal cost analysis

Author

Chao, Chen ; Zhang, Yabin ; Gan, Deqing ; Lu, Hongjian

Author_Institution

Coll. of Min. Eng., Hebei United Univ., Tangshan, China

fYear

2012

fDate

21-23 April 2012

Firstpage

3534

Lastpage

3537

Abstract

Cut-off grade is the critical grade between ore and waste rock, the technical parameters which has a major impact on the open-pit´s overall economic benefits. In this paper, it is studied that the marginal cost theory, combined with open-pit´s production and management characteristics, determines a reasonable cut-off grade. The economic viability of exploiting low-grade iron is studied, and it is the technical support to exploit fully the mineral resources and to improve economic performance and social cost-benefit.

Keywords

costing; industrial economics; iron; minerals; mining; optimisation; economic performance; economic viability; iron mining grade optimization method; low-grade iron exploiting; marginal cost analysis; marginal cost theory; mineral resources; open-pit management characteristics; open-pit mine; open-pit production characteristics; ore; social cost-benefit; technical parameters; waste rock; Economics; Indexes; Iron; Minerals; Optimization; Production; cost analysis; cut-off grade; marginal analysis;

fLanguage

English

Publisher

ieee

Conference_Titel

Consumer Electronics, Communications and Networks (CECNet), 2012 2nd International Conference on

Conference_Location

Yichang

Print_ISBN

978-1-4577-1414-6

Type

conf

DOI

10.1109/CECNet.2012.6202047

Filename

6202047