A Formal Approach to Economic Analysis of Pit Slope Design

A proper economic analysis of pit slope design must reflect the trade-off between the benefits and the increased risks of slope fail- ure inherent in steeper slope angles. However, no formal framework for a proper analysis existed to date. This paper describes the results of the past four years' effort in which a formal eco- nomic analysis framework was developed and tested through a case study. This framework, in essence, consists of the availability of tested procedures and com- puter programs. The procedures as well as the programs are divided into two broad functional categories; (1) the first category related to assessing the economic benefits and costs associated with various pit slope angles and (2) the second category that determines the overall financial impact which the assessed benefits and costs exert to the mine operator's overall economic stature.