DETERMINING THE LIMITING DEGREE OF DIFFERENTIATION OF BOARD CONTENT
Keywords:
cut-off grade, condition differentiation, reserve optimization, net present value (NPV), production capacity, subsoil use, economic efficiencyAbstract
This article examines the impact of differentiation of cutoff grades for minerals by years of production on the economic efficiency of deposit development. Using a model of an ore deposit with reserves of 10 million tons, a multi-variant optimization of production capacity and balance reserves was conducted. Using iterative calculations, the maximum degree of differentiation (up to ±67%) was established, which ensures equality between the grade in the last portion of mined ore and the final cutoff grade. It is proven that the use of dynamic conditions during gross mining can significantly increase the project's net present value (NPV)—in this example, from $30.6 million to $38.3 million—and also increase the volume of recoverable reserves.
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