Economic Factors Affecting Mill Design

Let's review the economic factors in mill design. Talking about engineering economics in mill design reminds me of an old' saying "There are several ways to handle women but nobody knows what they are." I'm sure that the same economic factors do not apply to each of our mill designs, but for the sake of emphasis, it is well to review a few of them. They are so simple that we are apt to feel they are not important. Other speakers today are talking about the engineering factors of mill design, but I'm asking the question "Have we checked the economic factors involved in these designs? Have we checked the obvious? Many great discoveries have resulted from analysis of the things that appeared to be obvious all the time. What are some of these economic factors? Perhaps the most basic one is simply the value of minerals in place if minerals have value in the ground, they have value only because many important and different considerations add up to the probability that the minerals can be mined, beneficiated and disposed of profitably. The size formation and quality of the ore body, the distance from market, and the transportation available to the market area, depreciation rates, taxes, and the ownership interests involved are but some of the factors that must dovetail into the answer of profit, an answer prerequisite to hoped-for financing.