Optimization of Mining Engineering Design in Mineral Valuation (47fdecf1-74c7-4bff-9be5-ff07b7309617)

The investment worth of a mineral deposit can only be realistically evaluated in relation to specified engineering design criteria which fully detail the proposed method of exploitation. The operational design of a mine falls essentially within the technical discipline of the mining engineer, under the constraint that the technical design should be aimed at optimizing the financial attractiveness of the project. In the case of a marginally viable proposition it becomes vitally necessary to identify the best set of design parameters which together will add up to an optimum investment proposal. This paper examines some fundamental logic of optimization for a "wasting asset" type of investment such as a mine, with special reference to the rate of annual production and the strategy of selective mining.