Typically, bigger mines with high production rates have lower operating costs. But is bigger always better? Building a big mine can require significant capital expenditures. These will impact the overall economics of a project.
On October 1, 2018, Mining Intelligence will launch the Surface Evaluation Application. This cloud-based application is the latest innovation in mine project evaluation. It helps you perform scoping-level capital and operating cost estimates and economic evaluations for open pit mining and mineral processing operations quickly and consistently using an engineering-based cost estimating method.
The application allows you to run multiple scenarios to see how production rates impact not only the mine life, but also capital costs, operating costs, payback period, net present value, and other economic indicators. For many projects, there is a best fit or "sweet spot" that maximizes the profitability of a potential mine based on production rates. The Surface Evaluation Application reveals where the best fit is so you can make design decisions earlier in the project timeline, thereby saving you money and time.