Grade/Tonnage Curves and Optimization of a Mining Project

Since its beginning, with the works of D. Krige and later, G. Matheron, geostatistics has been analyzing in detail the essential factors at play in ore reserves estimation problems, with the ever-present aim of an optimal use of the available information. Not only do the reserves depend on the geological in situ resources, they also require a correct appraisal of many technical and economical parameters. The objective of the present paper is to show how the method of technical parameterization of reserves, which is at the heart of the geostatistical approach, provides an extremely powerful and versatile tool for characterizing a mining project. After a review of the main properties of the technique, its use in the economic optimization of a project will be examined. Two examples from copper and gold deposits will be given.