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Conference Proceedings

Twelfth International Symposium on Mine Planning and Equipment Selection (MPES 2003)

Conference Proceedings

Twelfth International Symposium on Mine Planning and Equipment Selection (MPES 2003)

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Financial Model Analysing Tabular, Narrow-stope Long Hole Drilling in South Africa

In-stope long hole drilling (face parallel drilling) is a new technology currently being applied to shallow dipping (<25) tabular orebodies (locally referred to as reefs) at south african gold and platinum mines. this method has the potential to expand the mineable reserves in existing south african gold mines by effectively reducing the current pay limits. thus, it will be possible to extract previously uneconomical, low-grade narrow reefs through the successful implementation of this new mining method. in-stope long hole drilling is currently being applied at three sites at varying depths (about 1000 m, 2000 m and 3000 m) beneath surface, and on different reef types. as each site has different ground conditions, different drilling equipment is used to suit. obviously, the critical financial parameters of the in-stope long hole drilling method need to be fully understood for both the trial and full-scale operations, to ensure profitability at low ore grades, with the targeted paylimit being 300 cmg t. financial analysis of each site is carried out on an ongoing basis with the assistance of minecon financial modelling software. the model's results highlight the critical financial parameters that directly affect the profitability of the long hole drilling operation. modelling includes sensitivity analysis to confirm these key parameters. the interrelationship between these parameters, and their effects, are modelled. results ensure that long hole drilling is managed to maximise profit. for example, the relationship between hole burden and stope width have a very high impact on the profitability of the operation. the financial analysis and modelling results are graphic outputs, enabling simple daily monitoring of the operation on a real time basis. this enables rapid corrective action to be taken should a parameter exceed its tolerance (ie stope width), thus ensuring the operation remains in the maximum profit zone.>
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  • Financial Model Analysing Tabular, Narrow-stope Long Hole Drilling in South Africa
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  • Published: 2003
  • PDF Size: 0.335 Mb.
  • Unique ID: P200301073

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