Lecture Unit 2

Lecture Unit 2 - Introduction to Mining Lecture Unit 2...

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Introduction to Mining Colorado School of Mines Mining Engineering Department Spring 2007
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Traditional Definitions Mine : An excavation in the earth’s surface made for the expressed purpose of extracting and selling an economically valuable mineral or material …. or an ORE Ore : A mineral and/or material that can be mined at a profit Cutoff Grade : Ore grade at which the recoverable value per ton equals the production cost/ton
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Ramifications of these Definitions High Grade Mineralization May Not Be Ore High production and processing costs, low commodity prices, and/or low mill recovery can negate the economic benefits of high grade deposits. A mine can exhaust its ore although the grade and price remain constant, due to increased operating costs associated with changing depth (hoisting or stripping), rock conditions, haulage distance, mineralization (processing costs), etc.
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Ramifications of these Definitions Ore Reserves are Dynamic Fluctuate over time as a function of changing price, costs, and technology. Extremely relevant to the evaluation of large surface properties (long pre-production periods)
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Ramifications of these Definitions Cutoff Grade Varies with changing prices, costs, location, and philosophy In some foreign countries, the cutoff grade is artificially dictated by regulation to insure resource utilization. Resource vs. Orebody
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Distinctive Features of the Mining Industry Located Irregularly Some types of minerals are often concentrated in very specific areas Example:Molybdenum in Colorado Borax Minerals in California
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Distinctive Features of the Mining Industry Absent in others Example: Large Bauxite Deposits in the US As a rule: the more irregular in distribution, the more valuable the mineral Example: Diamonds vs. Aggregate
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Localized Occurrence Deposits occur where they’re found. This fact has serious repercussions given the recent trends towards federal and state land withdrawals and the resolution of land-use conflicts. In general, the lower the mineral value, the
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This note was uploaded on 04/08/2008 for the course MNGN 101 taught by Professor Bigguy during the Spring '07 term at Mines.

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Lecture Unit 2 - Introduction to Mining Lecture Unit 2...

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