151
5.2.2 Results and discussions
Evaluation of the copper deposit with the integrated Mixed Integer Linear Programming
(MILP) model indicates that a combined sequential and simultaneous open pit and underground (OPUG) mining operation is the preferred mining option with the highest Net Present
Value (NPV) of $265.89 billion. The integrated MILP model was modified to evaluate the
ore body for an independent open pit (OP) mining option and an independent underground
Table 3. Economic, mining and processing data for evaluating the copper deposit.
No.
Parameter
Value
1
Open pit mining cost ($/t)
8.0
2
Underground mining cost ($/t)
300.0
3
Processing cost ($/t)
15.0
4
Selling cost ($/lb)
1.5
5
Selling price of copper ($/lb)
3.5
6
Discount rate (%)
10.0
7
Processing recovery (%)
95.0
8
Max open pit (OP) processing capacity (Mt/year)
8.0
9
Min open pit (OP) processing capacity (Mt/year)
0.0
10
Max open pit (OP) mining capacity (Mt/year)
20.0
11
Min open pit (OP) mining capacity (Mt/year)
0.0
12
Max underground (UG) processing capacity (Mt/year)
3.0
13
Min underground (UG) processing capacity (Mt/year)
0.0
14
Max open pit & underground (OPUG) processing capacity (Mt/year)
8.0
15
Min open pit & underground (OPUG) processing capacity (Mt/year)
0.0
16
Max underground (UG) mining capacity (Mt/year)
3.0
17
Min underground (UG) mining capacity (Mt/year)
0.0
18
Incremental bench cost ($/15 m)
4.0
19
Operating development cost ($/m)
7000
20
Capital development cost ($/m)
15,000
21
Max operating development (m/year)
5000
22
Max capital development (m/year)
30
Table 1. Statistical description of the synthetic copper deposit.
No.
Description
Value
1
Total mineralized material (Mt)
116.10
2
Minimum value of Cu (%)
0.719
3
Maximum value of Cu (%)
3.000
4
Average value of Cu (%)
1.051
5
Variance (%
2 )
0.394
6
Standard deviation (%)
0.628
7
Number of levels/benches
5
Table 2. Distribution of the metal quality and quantity in the
deposit.
Level
no.
Total metal content
(% × million)
Total ore tonnage
(t × million)
Value
1
19.10
12.15
9
2
40.22
52.65
39
3
4.05
5.40
4
4
15.74
20.25
15
5
42.84
25.65
19
5.2.2 Results and discussions
Evaluation of the copper deposit with the integrated Mixed Integer Linear Programming
(MILP) model indicates that a combined sequential and simultaneous open pit and underground (OPUG) mining operation is the preferred mining option with the highest Net Present
Value (NPV) of $265.89 billion. The integrated MILP model was modified to evaluate the
ore body for an independent open pit (OP) mining option and an independent underground
Table 3. Economic, mining and processing data for evaluating the copper deposit.
No.
Parameter
Value
1
Open pit mining cost ($/t)
8.0
2
Underground mining cost ($/t)
300.0
3
Processing cost ($/t)
15.0
4
Selling cost ($/lb)
1.5
5
Selling price of copper ($/lb)
3.5
6
Discount rate (%)
10.0
7
Processing recovery (%)
95.0
8
Max open pit (OP) processing capacity (Mt/year)
8.0
9
Min open pit (OP) processing capacity (Mt/year)
0.0
10
Max open pit (OP) mining capacity (Mt/year)
20.0
11
Min open pit (OP) mining capacity (Mt/year)
0.0
12
Max underground (UG) processing capacity (Mt/year)
3.0
13
Min underground (UG) processing capacity (Mt/year)
0.0
14
Max open pit & underground (OPUG) processing capacity (Mt/year)
8.0
15
Min open pit & underground (OPUG) processing capacity (Mt/year)
0.0
16
Max underground (UG) mining capacity (Mt/year)
3.0
17
Min underground (UG) mining capacity (Mt/year)
0.0
18
Incremental bench cost ($/15 m)
4.0
19
Operating development cost ($/m)
7000
20
Capital development cost ($/m)
15,000
21
Max operating development (m/year)
5000
22
Max capital development (m/year)
30
Table 1. Statistical description of the synthetic copper deposit.
No.
Description
Value
1
Total mineralized material (Mt)
116.10
2
Minimum value of Cu (%)
0.719
3
Maximum value of Cu (%)
3.000
4
Average value of Cu (%)
1.051
5
Variance (%
2 )
0.394
6
Standard deviation (%)
0.628
7
Number of levels/benches
5
Table 2. Distribution of the metal quality and quantity in the
deposit.
Level
no.
Total metal content
(% × million)
Total ore tonnage
(t × million)
Value
1
19.10
12.15
9
2
40.22
52.65
39
3
4.05
5.40
4
4
15.74
20.25
15
5
42.84
25.65
19