Forecasting drill bit consumption in surface mine production drilling operations - SME Transactions 2012

The goal of the drill bit consumption study was to develop an equation(s) based on various components that affect drill bit wear and use that equation(s) to estimate the consumption of bits during production drilling. Drill bit data from various geographic locations were compiled and used to develop linear regression equations using the Microsoft Excel software package. Multiple drill bit consumption equations were developed and statistical analysis was used to verify the accuracy of those equations. The equations will allow mining companies to more accurately forecast drill bit consumption when evaluating new mine properties. This capability becomes increasingly beneficial to forecasting as the cost of consumables increases.