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By K. Thuro, R. J. Plinninger

ABSTRACT: Determining tunnel stability is a key issue during preliminary site investigation. In contrast, problems of excavatability have been largely ignored. While the choice of an economic tunnelling method is admittedly a clear priority in the planning stage, special investigations focus-sing on rock fragmentation (e.g. drilling or cutting performance, rock mass blastability or tool wear) are rarely carried out. This paper explores possibilities to quantify key parameters for rock mass excavatability in drilling, blasting and cutting by TBMs and roadheaders. RÉSUMÉE: La détermination de la stabilité du tunnel est une question clé lors des études prélimi-naires. En revanche, les problèmes d'excavabilité sont souvent en grande partie ignorés. Tandis que le choix d'une méthode de percement économique est évidemment une priorité claire dans l'étape de planification, des investigations spéciales se concentrant sur la fragmentation de la roche (par exemple le comportement de la roche au forage, à l’excavation ou au dynamitage et l’usure des outil) sont rarement effectuées. Cet article explore les possibilités pour quantifier les paramè-tres clé de la roche lors d’excavation par forage, dynamitage, au tunnelier (TBMs) ou à l’excavatrice. ZUSAMMENFASSUNG: Beim Tunnelbau wir meist die Vorhersage der Stabilität des ausgebrochenen Hohlraums als Schlüsselfragestellung betrachtet. Im Gegensatz dazu werden Probleme der Gebirgslösung weitgehend ignoriert. Während der Wahl einer wirtschaftlichen Vortriebsmethode während der Planungsphase meist noch eine gewisse Priorität beigemessen wird, werden spezielle Untersuchungen zur Gebirgslösung (Bohr- oder Schneidbarkeit, Sprengbarkeit oder Werkzeugverbrauch) nur sehr selten durchgeführt. Diese Publikation zeigt Möglichkeiten der Quantifizierung von Schlüsselparametern für die Gebirgslösbarkeit auf, also der Bohr- und Sprengbarkeit, der Fräsbarkeit mit Teilschnittmaschinen und der Schneidbarkeit mit TBMs.

Jan 1, 2003

By J. H. Maritz, Uludag. S.

"*Paper written on project work carried out in partial fulfilment of B.Eng(Mining Engineering) degreeAfriTin Mining Limited plans to reopen the Uis tin mine in Namibia and establish a pilot processing plant for phase 1 of the Uis tin project, which is scheduled to commence in the last quarter of 2018 . A mining plan is required for phase 1 to supply the new pilot processing plant with 500 kt of run-of-mine ore per annum, for a period of 5 years. New geological mapping and three-dimensional modelling of the mining area were utilized to identify the most optimal mining locations that require low initial waste stripping. An open-pit mining method was selected to target the surface outcrops of the pegmatite orebodies. The mine design criteria were determined and used as input to generate the mine design by utilizing professional engineering software. The mine design was optimized and an overall stripping ratio of 0.81 was achieved. A 5-year production schedule was developed for the mine design according to quarterly periods of three months. A fixed production target of 125 kt of ore was assigned to the quarterly periods, and a ramp-up production target of 65 kt of ore was assigned for the first period. The mobile mining equipment requirements were calculated, and recommendations were made for implementing the 5-year mining plan. IntroductionAfriTin Mining Limited is the owner of the Uis tin project in Namibia and plans to reopen the Uis tin mine, which is located near the town of Uis, approximately 164 km north of Swakopmund. The Uis tin mine was owned and operated by Imkor Tin, a subsidiary of Iscor South Africa. Mining commenced in 1958, and the operation was closed in 1991. Steffen Robertson & Kirsten (SRK) defined the life of mine (LOM) plan for the historical Uis mine in 1989. The SRK report estimated the historical resources and reserves, which consisted of sixteen cassiterite-bearing pegmatite orebodies. SRK developed the most economical pit designs to provide the highest average tin grade at the lowest practical waste stripping ratio. Exploration data from the SRK report of 1989 was used extensively throughout this study, since no new exploration drilling has been conducted. The pegmatites are present as large, subvertical and outcropping veins up to 100 m in thickness. Once phase 1 is operational, mining will be conducted using conventional open pit mining methods. Initial production will be from exposed pegmatite veins in the old mine workings. AfriTin plans to establish a pilot processing plant by the end of 2018 to beneficiate run-of-mine ore at a rate of 500 kt per annum."

Jul 1, 2019

By H. B. Arntzen, P. O. Grøntvedt, T. Lindstad, R. J. Ishak, M. Syvertsen

Better utilisation of electric power and coke is vital in reducing production costs and CO2-emissions in production of ferromanganese. All FeMn smelting operations consume 10 to 30 % more carbon than the carbon needed to reduce MnO and FeO to metal and the carbon contained in the alloy. Potassium which re-circulates and builds up in the furnace has been shown to be the main culprit causing both excessive carbon consumption, by catalysing the Boudouard reaction, and increased electric power consumption. The reaction between CO2 and ordinary metallurgical coke or coke impregnated with potassium has been studied at temperatures from 800 to 1100°C in a thermobalance apparatus. Ordinary coke did not react to any great extent at temperatures up to 1000°C, whereas the addition of potassium (2-10 %) resulted in a huge increase in reaction rates. The ultimate goal is to fit the results into a reaction rate model containing the equilibrium constant for the solid-gas heterogeneous reaction between CO2 and a free active site on the carbon reactant producing CO and adsorbed oxygen (an occupied site). The model includes the partial pressures of CO and CO2, a reaction rate constant that is a function of both the total number of reaction sites of carbon, and the potassium content. The potassium dependency is taken care of by introducing activity coefficients for the carbon sites. As the first step towards such a model, a regression line for the Boudouard reaction rate has been established.

Jan 1, 2004

By K. Ford, R. Urquhart, D. Hobbs

CIS countries are home to some of the world's largest producers of chrome, manganese and silicon ferro alloys and leading suppliers to world export markets. The region's ferro alloys production is rising faster than demand from its domestic steel industry - unit alloy consumption in domestic steelmaking is in fact falling as process efficiencies improve - and there is significant spare capacity available to increase production. CIS producers enjoy certain strategic advantages in the production of ferro alloys - for example, captive ore sup-plies, low power and labour costs - but must also meet certain challenges - such as lower labour productivity and greater distance to market than some of their competitors. CIS producers are ambitious but new investment is needed to upgrade some aging plants and overhaul outdated process technologies if they are to be more competitive with the world's leading producers and address the environmental issues that are now moving up the agenda. This paper describes the structure of the region's ferro alloys industry and discusses its advantages and disadvantages by alloy and by country. It considers how the ongoing process of restructuring and new investment in the industry might move forwards, based on its strengths and weaknesses, technical and environmental factors and the strategies of the main players. It asks how the industry might maximise its substantial potential - in particular, for the production of chrome and manganese ferro alloys - and examines the implications this holds for all global ferro alloys players.

Jan 1, 2007

By Willem Le Roux

Occupational health and safety is regulated by statute and common law. South Africa has, like many other countries, legislated extensively on occupational health and safety. Despite the body of legislation, the common law continues to play an important role as far as it concerns contractual, delictual and criminal liability. Two major Acts regulate occupational health and safety viz. the Occupational Health and Safety Act, No. 85 of 1993 (?OHASA?) and the Mine Health and Safety Act, No. 29 of 1996 (?MHSA?). The MHSA applies to mines and works as defined and related aspects. OHASA applies to other industries but does not apply to employers and workplaces to which the MHSA and certain matters covered by the Merchant Shipping Act, No. 57 of 1951 apply. See section 1(3) of OHASA. 2 The employer?s health and safety obligations in terms of the MHSA 2.1 Section 2(1) of the MHSA provides amongst others, as follows: ?The employer of every mine that is being worked must: (a) ensure, as far as reasonably practicable, that the mine is designed, constructed and equipped: (i) to provide conditions for safe operation and a healthy working environment (ii) ... (b) ensure, as far as reasonably practicable, that the mine is commissioned, operated, maintained and decommissioned in such away that employees can perform their work without endangering the health and safety of themselves or of any other person?.

Jan 1, 2011

By W. Dziurzynski, S. Nawrat, A. Krach

The paper presents research on the influence of the goaf methane inflow on a fire. The problem was investigated by a computer simulation of a fire developing in a goaf. A relevant mathematical model of the fire was selected, which considered both burning of coal and methane. The combustion process is very sensitive on the oxygen and methane concentrations, which was indicated on graphs of the fire temperature evolution. Examples of computer simulation for various location of the fire were considerd. Analysys of results confirms the influence of the content of the goaf methane on development of fires.

Jan 1, 2003

By L. Andrews

Electron microbeam analysis of metallurgical samples covers abroad field and has applications in the areas of minerals processing, hydrometallurgy, pyrometallurgy, physical metallurgy and corrosion. Some idea of the possibilities of microbeam techniques can be illustrated by examining the following example of a run of mine gold ore sample. Milling and bulk chemical analysis of the ore will provide major and minor element analysis as well as the gold grade. More detailed chemistry can also reveal the presence of trace elements that may be advantageous or deleterious to downstream processing. Electron microbeam analysis can provide additional information in the form of size, liberation, association and composition of the gold, the percentage of refractory gold, the size, liberation, association and composition of enclosing sulphide or arsenide phases and the levels and association of the trace elements that may affect processing. In most cases electron microbeam analysis complements bulk chemistry, and does not replace it. Both techniques should be used in parallel for maximum effect. This paper touches on the origin and history of electron microbeam techniques, as well as the theory behind microbeam analysis and processing. The more common types of instruments and their applications will also be dealt with briefly.

Jan 1, 2007

By P. Venter, N. Naude

"Coal mining is a thriving industry and 53% of the coal mined in South Africa is used for electricity generation. Mechanization has made coal mining more efficient, but fines generation has subsequently increased. Up to 6% of the run of mine material can report to the -200 µm fraction. Common problems associated with fines handling include dust formation, storage problems, and high moisture levels. A method to turn this material into a saleable product instead of stockpiling it can add value to a company.Briquetting is a pressure agglomeration method where loose material is compacted into a dense mass (FEECO International, 2014). The briquettes must be able to withstand rigorous handling and transport operations without disintegrating. This study aims to investigate the optimum binder and moisture conditions required to produce a mechanically strong briquette using two different binders - a PVA powder (binder A) and a starch powder (binder B).It was found that for binder A the optimum moisture level was 12% to 14%. At this moisture level the greatest compression strength gains were observed, and low amounts of fines produced in impact and abrasion tests. The minimum amount of binder added while still obtaining a strong briquette was 0.5% binder A. For binder B the optimum moisture level was also 12% and the minimum amount of Binder B to be added was found to be 1%. Briquettes that were dried outside reached their peak strength after about four days, whereas the briquettes that dried inside took about 20 days to reach their strength plateau. Hardly any degradation took place on the surface of the binder A film after exposure of 300 hours of artificial weathering. Thermogravimetric analysis confirmed that neither binder A nor binder B will add to the ash content of the coal fines, as both binders totally decompose above 530°C.Binder B yielded stronger briquettes after 15 days and also generated less fines. It is therefore superior to binder A and would be recommended for further use.Paper written on final year project work carried out in partial fulfilment of B.Eng degree in Coal Beneficiation"

Jan 1, 2015

By S. Rolseth, J. Thonstad

The traditional electrolyte for aluminium electrolysis is based on molten cryolite (Na3AlF6), acting as solvent for the raw material, alumina (Al2O3). Over the years there has been a trend to increase the content of excess aluminium fluoride (AlF3) to the cryolite-based electrolyte, in order to enhance the current efficiency of the process. In most cases one has ended up at 11?13 wt% excess AlF3because higher contents makes it difficult to control the heat balance of the process. This problem may be overcome if sensors are developed that will allow online control of electrolyte temperature and composition, and we may then see a surge towards still higher AlF3contents. In the development of new anode materials to replace the carbon anode with inert, oxygen-evolving anodes, focus is on anode corrosion, and a low electrolyte temperature is then highly desirable. While the conventional process operates at around 960°C, electrolyte temperatures as low as 750°C are being tested. This is achieved by having large excess contents of AlF3(40 wt%). The consequences of using such electrolyte compositions are discussed.

Jan 1, 2004

By M. Matema

Paper written on project work carried out in partial fulfilment of BSc (Eng.) Metallurgy and Materials Engineering Small and large welded aluminium specimens were tested in fatigue and the results compared with design curves for aluminium in specification BS8118. Metallurgical tests were also performed on the specimens in order to correlate microscopic and macroscopic phenomena. The small-scale fatigue test results were in reasonable agreement with results in BS8118, whereas the large-scale fatigue tests showed that BS8118 is conservative.

Jan 1, 2005

By J. Dahner

Total milling cost is composed of energy, liner and grinding media costs. In primary high ball load milling, the grinding media play the biggest role in total milling cost. This cost can be drastically reduced by improving the impact condition inside the mill. The impact condition inside the mill is influenced by shell liner design (as well as feed end and discharge design) and the type of discharge. The improvement of the impact condition will result in a significant decrease in grinding media consumption. The softened impact condition allows for better alloy optimization, resulting in a further reduction in grinding media consumption. Optimized liner design can also improve energy consumption as less energy is wasted in the projection of the grinding media. Magotteaux utilizes tools to simulate and show the grinding media trajectories for shell and end liners. This paper will present some practical examples where the media and energy consumption can be or has been reduced by optimizing liner design. Keywords Comminution, grinding, liner design, grinding media wear.

Jan 1, 2011

By S. E. Olsen, M. Tangstad

The main source of Mn in raw materials for SiMn production is Mn-ore and Mn-rich slag from the high carbon FeMn production. The amount of slag per tonne of SiMn metal is mainly determined by the ore/slag ratio. Increasing share of FeMn slag at expense of Mn-ore will lead to larger slag/metal ratio in the SiMn process. High volume of slag leads to an increased consumption of energy and probably to higher losses of metal inclusions in the final slag. Excavation of a SiMn furnace has shown that only modest pre-reduction of Mn-ore with CO gas seems to be obtained. Nearly all reduction of MnO was finished at the top of the cokebed. Dissolution and reduction of quartz obviously takes place in the cokebed zone after the main reduction of manganese oxide is finished. Probably the ?pick up? of Si in the metal is quite fast and takes place as the metal trickles down through the cokebed towards the metal bath. The distribution of Si between SiMn alloys and multicomponent MnO-SiO2-CaO-Al2O3-MgO slags is mainly determined by the process temperature, the silica content of the slag and its R-ratio = (CaO+MgO)/Al2O3. As an example, the equilibrium content of Si in the alloy will increase by about 6 % if the R-ratio is reduced from 2 to 1, provided constant temperature and silica content. The effect of temperature is also considerable. The equilibrium content of silicon will increase by approximately 6 % per 50°C in the temperature range 1550°C to 1700°C. The equilibrium content of MnO in SiMn slags depends first of all on the temperature and secondly on the silica content of the slag. At 1600°C the MnO content decreases from about 9 % at silica saturation to a minimum of about 3-4% when the silica content is reduced to about 40-45%.

Jan 1, 2004

By FJ Fourie

This paper describes the concept and development of the use of a uni-delay shock tube system in the timing and initiation of the development rounds, specifically in flat development. It was extended from stoping and now constitutes the only initiation system is use at Kopanang mine. The two explosives initiation systems in general use in underground mines are the conventional fuse-igniter cord system, and the more modern Long Period Delay shock tube system, better known as the numbered LP system. Both are well accepted but have many drawbacks which can result in poor breaking and substantial wastage of the blasting material. Both of these deficiencies cause an increase in the cost of a blast. Hitherto, the limited number of delays available has complicated the use of shock tubes in development blasting. Over eighteen month period to the end of 2007, a project team comprising members from Kopanang Mine and AEL developed a method for the use of a uni-delay shock tubes to time any development round. These uni-delay shock tubes are better known as Reef Masters® or EZ-Stopers® depending on the supplier, and the system has particular application in flat development. During the project, two new shock tube system components were designed, tested and manufactured; namely Splitters and Starter Packs. The system has been successfully tested and implemented in both on-reef and off-reef development ends. At Kopanang, it has now been rolled out across the entire mine. Other AnglogoldAshanti mines are conducting trials and implementations into production sections. Initial results indicate improvements in the ground conditions and excavation profiles. The cost of blasting is showing a downward trend. The authors consider that the system is a tool for use in further blast optimization and will contribute to rationalization of the explosives commodities basket on mines.

Jan 1, 2008

Published experimental data on thermodynamic behaviour of cobalt-containing slags have been reviewed and used in validating a recently developed thermodynamic model. The results from the exercise show that the model provides a reasonably good description of behaviour of cobalt in multi-component slag systems. The models for cobalt containing slags, matte and oxide solid solution phases were incorporated into CSIRO?s multi-phase equilibrium (MPE) package, which was used to calculate the equilibrium distribution of cobalt between matte and slag phases under various conditions. The results agreed well with the experimental data. Furthermore, the good agreement between the calculation and the plant data indicates that the operating conditions of industrial smelting and converting processes are close to equilibrium. Two diagrams showing the effects of slag chemistry and SO2and O2partial pressures on the distribution of cobalt between phases were generated for conditions similar to smelting and converting processes. These diagrams provide some useful guidelines for developing new strategies to improve cobalt recovery.

Jan 1, 2004

By C. Nexhip, S. Sun

Critical to understanding and controlling phase mixing and separation in metallurgical processes, is the development of reliable experimental techniques to measure interfacial properties of melt systems. A series of experiments has been carried out to determine the effect of oxygen potential on the surface tension of liquid copper. Using an electromagnetic levitation method, a surface tension-oxygen chemical potential adsorption isotherm was produced for the Cu-O system at T 1400 K. The surface tension results show good agreement with the literature values e.g. within 3 per cent for pure copper. The Belton `ideal' adsorption isotherm was applied, and the following equation derived to best fit the experimental data ? =1251-77.5 1n41+ (2.79x105 . pO1/2)](mN.m Using this equation, the surface tension of copper was calculated/predicted as a function of oxygen potential at 1400 K, and showed excellent agreement with the experimental values. This confirmed that the adsorption behaviour of oxygen in liquid copper is ideal. The saturation coverage of oxygen on the surface of liquid copper was determined to be T0 = 6.65 µmoles.m,-2 corresponding to an area per adsorbed oxygen atom of ao ? 25 Å2. These values agree well with those cited in the literature, and our experimental data cover a very wide range of oxygen potential (10-5 to 10-17 atm). Keywords: levitation melting, surface tension, Cu-O alloys, oxygen potential, adsorption isotherm, surface coverage.

Jan 1, 2004

By C. Ware, R. Uken, G. Whitmore

The coastal dune cordon of northern KwaZulu-Natal is among the highest in the world reaching heights in excess of 180 m and up to 2 km in width. It comprises a complex system of Quaternary stacked dunes of various geomorphologies, types and ages (Sudan, 1999; Maud and Botha, 2002;Ware et al., 2001; Ware, 2003). The dunes contain economic heavy minerals that have been exploited for the last two and a half decades. Dune units have recently been defined based on sand composition and texture(Sudan, 1999; Ware, 2003). Despite this, little work has been undertaken on the clay-fraction (< 2 um). This work documents the weathering of dunes to form clays. From the documented clay assemblages and relative abundances, a simplified weathering sequence with increasing maturity can be summarized as follows: primary minerals ? illite + vermiculite ?illite +interstratifications ?illite + montmorillonite ?halloysite + interstratifications + kaolinite ?kaolinite. The dominant controlling factors in determining clay assemblages is pH and leaching conditions. The presence of carbonates results in an alkaline pH and high concentrations of Ca2+and Mg2+which favours the formation of montmorillonite and vermiculite. However, vermiculite tends to form under slightly acidic conditions and is indicative of palaeosols where organic acids produce localized acidic pH’s. In contrast to this, kaolinite will only form and concentrate when carbonates have been leached. Kaolinite dominated samples are considered very mature under current climatic conditions(Chamley, 1989). Halloysite represents a transitional phase between montmorillonite and kaolinite (Herbillon et al., 1981). Ion mobility and evacuation is also critical in determining clay assemblages. Past work and field studies indicate that the dune cordon acts as an open system, resulting in carbonates and mobile ions being readily leached and lost from the system. However, when prolonged weathering has caused an accumulation of fine-grained material, the permeability decreases substantially whereby mobile cations and silica cannot be readily evacuated. This results in the formation of montmorillonite rather than kaolinite, even when carbonates have been leached. Illite (sericite) is considered to alter directly from feldspars. However, dune stacking and geometries, vegetation, water fluxes, reworking and erosion complicates this sequence.

Jan 1, 2003

By A. Hiltunen, R. Hiltunen

The utilization of blast furnace and BOF slags has long traditions and well-known applications in the building and road construction industries and in soil conditioning. The starting point for product development has been the basic physico-chemical properties of slags. This development has led to the almost 100% utilization of blast furnace slags and also considerable amounts of steel slags. While new methods and applications are continuously being looked for and developed in order to recycle and utilize all types of slag, there is at the same time an increasing debate over the exact nature of the slags, whether they are products or waste material, and whether they should be considered substances or preparations. These questions have emerged as a consequence of the environmental effects of the slags and current environmental legislation. The environmental effects of slags can be seen to be both beneficial and less beneficial. There is no doubt about their benefits in the road construction industry, as they allow significant savings in terms of natural materials and in transportation. It is also a known fact that using slags as fertilizers and in the cement industry leads to reduction in CO2emissions. The less favourable effects are the possible harmful emissions into the soil and groundwater. In this paper we describe the properties of slag products and their environmental effects according to investigations carried out in Finland. Keywords: utilization, blast furnace slag, steel slag, properties, solubility, environment

Jan 1, 2004

By M. K. Roberts

The approximately 2800 Ma old Ventersdorp Contact Reef is a unique Witwatersrand orebody, from which about 6% of the world?s gold production is derived. A major portion of this production is mined at depths exceeding 2500 m and deepest levels of mining are at about 3600 m. The orebody?s hangingwall consists of volcanic rocks. This differs from the older Witwatersrand orebodies, which have quartzitic hangingwalls. The thickness of the Ventersdorp Contact Reef is generally about 1.20 m, but is highly variable, at an average dip of about 18°. A pronounced unconformity beneath this orebody is also expressed by varying footwall rock type characteristics and frequent rolling of the reef plane. These rolls follow topographic variations of the palaeo-surface. More geological than rock mechanics studies were performed on the Ventersdorp Contact Reef prior to 1992. Recently, however, a multidisciplinary team comprising various rock engineering and geological disciplines has delineated geotechnical areas by a novel technique. Geotechnical areas are defined by distinct footwall/hangingwall rock assemblages. The presence of three footwall and two hangingwall rock types results in the definition of six geotechnical areas across a distance exceeding 60 km, including about 10 gold mines. Distinct rock mass behaviour has been documented in three of the six geotechnically defined areas. Different rock mass behaviour is expressed by features such as mining-induced fracturing, closure rates, fall of ground characteristics and seismic character. Some geological features override the rock mass behaviour as defined for the individual geotechnical areas. These are undulations of the orebody or the frequency, characteristics and attitude of major discontinuities. It is concluded that the concept of geotechnically subdividing orebodies is not only important for facies delineation and the associated grade, but also needs to be considered for safety aspects, in determining factors such as the appropriate support to be employed.

Jan 1, 1999

CSIRO Mineral has recently developed a new electron microprobe based system for characterizing zircon grains from heavy minerals sand deposits. The system acquires cathodoluminescence (CL) spectra, X-ray and backscattered electron (BSE) signals in parallel. By scanning over a specified target area, CL wavelength and X-ray element distribution maps of polished zircon grains can be acquired. Post-inspection of the combined dataset using in-house developed software enables correlations between chemistry and structure to be investigated. The new method offers significant benefits over traditional CL and BSE techniques in that direct comparison with the elemental concentrations over the same region is now achievable. By combining the electron microprobe results with data for the same mapped region obtained via a nuclear microprobe, significantly better detection limits (~ 1ppb) for elements with atomic numbers greater than iron are possible. The ability to measure spatially related analytical data and then investigate the correlation of the CL spectra with chemical data is an important advancement in the characterization of zircons. Key words: zircon, characterization, cathodoluminescence, backscattered electron, electron microprobe, nuclear microprobe, chimage, proton induced x-ray emission.

Jan 1, 2003

By M. Rahmanpour

"Mine planning is a multidisciplinary procedure that aims to guarantee the profitability of a mining operation in changing and uncertain conditions. Mine plans are normally classified as long-term, intermediate-term, and short-term plans, and many factors affect the preciseness of these plans and cause deviations in reaching the objectives. Commodity price is the heart of mine planning, but it has a changing and uncertain nature. Therefore, the determination of mine plans in the presence of uncertain mineral price is a challenge. A robust mine plan reduces the risk of early mine closure. A procedure is presented to determine the value at risk (VaR) in any possible mine planning alternative. VaR is considered together with downside risk and upside potential in order to select the most profitable and least risky plan. The model is tested on a small iron ore deposit. IntroductionMining projects are normally evaluated with the objective of maximizing economic value, as measured by the net present value (NPV). The aim of mine planning is to develop a yearly extraction plan that guides the mining operation to the highest NPV (Dagdelen, 2007; Yarmuch and Ortiz, 2011). This plan considers the technical constraints such as blending requirements, block sequencing, and pit slope (Caccetta and Hill 2003). Thus, the mine plan affects the economics and the payback period of mining operations.Mine planning is a procedure based on which the profitability of the mining operation is guaranteed in changing and uncertain conditions (McCarter, 1992). However, conventional mine planning ignores the volatility and uncertainty of future commodity prices and does not allow for managerial flexibility. It is common practice to assume a deterministic and constant commodity price through the mine life. The problem with this approach is that the commodity price is the heart of the mine planning procedure and governs the profitability and feasibility of the operation; thus ignoring price volatility will result in a sub-optimal mine plan."

Jan 1, 2016