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Abstract of the Article

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Optimization of Mining Schedule in Se-Chahun Iron Ore Deposit, Using NPVS+ and COMFAR III Softwares

Authors:
[ A. Shevaee ] - Project manager, Kavoshgaran Consulting Engineers
[ B. Farshadi ] - Senior engineer, Kavoshgaran Consulting Engineers
[ F. Nassaj ] - Head of computer center, Kavoshgaran Consulting Engineers

Abstract:

Se-Chahun Iron Ore Deposit with some 94 million tones of iron ore is planned for a production capacity of about 3.4 million ton of ore per year with 37±5% grade to be used in Chogart expansion project. In this paper, work done to define the best mining schedule to produce the required ore with the proper grade, minimizing the amount of waste to be removed, are described. This in fact makes the highest achievable Net present value (NPV) for the mine. To obtain the maximum NPV, well known NPVS+ software has been utilized. This software makes the ultimate pit by L&G algorithm and schedules mining for maximum NPV with described targets. The most effective input data to software are economical data. In contrast with the technical parameters, economical parameters are highly variable and usually change with time. Therefore a flexible economical model should be introduced. COMFAR III software has been found as a proper solution for this problem. With this software one may assign several cost centers such as: capital costs, mining costs and G&A costs to the model. With such economical model, the authors were able optimize the mining schedule of Se-Chahun iron ore deposit. The authors succeeded to decrease waste removal about 51 million tonnes in first 15 years of operation.

Keywords:

Final pit limit, Mining schedule, Net present value, Economical model