who should attend - cosmocosmo.mcgill.ca/wp-content/uploads/2015/08/b-acge_2015 sme lr… ·...
TRANSCRIPT
Registration Deadline - August 21, 2015
Send registrations to: Laura Johnson
Meetings & Membership Department 12999 E Adam Aircraft Cir.
Englewood, CO 80112Tel: 303-948-4222 - Fax: 303-979-3461
E-mail: [email protected] online: www.smenet.org
SME, CIM, AusIMM, and SAIMM
o Members: $2,400 USD (Excluding taxes)
o Non-members: $2,800 USD (Excluding taxes)
Title: __________ Name: _________________________
SME, CIM, AusIMM or SAIMM Member #: ____________
Job Title: ______________________________________
Employer: _____________________________________
Postal Address: _________________________________
City: _________________________________________
Prov / State: ________ Postal / Zip Code: _____________
Country: ______________________________________
Phone: ________________________________________
Fax: __________________________________________
Email: ________________________________________
I will bring a laptop: Yes o No o
SPECTRUM SERIES VOL. 17 CD o or BOOK o
Payment:Visa o MasterCard o Amex o Cheque o Wire Transfer o
Card Number: __________________________________
Expiry Date: _____ / _____ Amount $: _______________
Name on Card: _________________________________
Signature: _____________________________________
Registration includes course notes, lunch, and morning and afternoon tea.
Participation in this course may be a valid activity towards continuing professional development with up to 26 contact hours. Participants receive a Certificate of Completion.
Notification of Cancellation received in writing up to August 25, 2015 (minimum of 10 working days before the course) will incur a 20% cancellation fee. No refund will be made after this time. An alternative participant may be nominated.
Who should attendThis course is designed for professionals involved in making decisions regarding mining projects during exploration, evaluation, development, and operations, including managers, financial analysts, mining engineers, metallurgists, geol-ogists, and public policy makers.
InstructorsJean-Michel Rendu graduated as a mining engineer from École des Mines de Saint Etienne, France, and obtained a Master’s and a Doctorate in mining engineering from Co-lumbia University, New York. In 2001 he retired as Vice President Resources and Mine Planning of Newmont Min-ing Corporation, with responsibilities for estimation and public reporting of resources and reserves, and for mining engineering services worldwide. He is currently working as an independent consultant. He is the author of approx-imately 50 publications on mining, and authored textbooks on geostatistics and cut-off grade estimation. He is an elected member of the U.S. National Academy of Engineering, a Fellow of AusIMM and SAIMM and a Registered Member of SME. He was recognised by SME as a Distinguished Member and a Krumb Lec-turer, and received two SME President’s Citations, the SME Daniel C. Jackling Award, and the AIME Mineral Economics Award. He received the American Mining Hall of Fame Medal of Merit Award in 2009.
Venue DetailsMcGill University Department of Mining and Materials Engineering McGill University3450 University Street Frank Dawson Adams Building, Room 126 Montreal Quebec Canada H3A [email protected]
Logistics Lectures are given from 9 AM (refreshments at 8:30 AM) to 5 PM with two 15 minute coffee breaks and a 1 hour lunch break.
COSMO - Stochastic Mine Planning Laboratory, a global centre for leading-edge research and graduate education in “orebody modelling and strategic mine planning with uncertainty”, is supported by AngloGold Ashanti, Barrick Gold, BHP Billiton, De Beers, Newmont Mining, Vale, and the Canada Research Chairs Program, NSERC, and CFI.
COSMO – Stochastic Mine Planning Laboratory Mining Engineering - http://cosmo.mcgill.ca
September 9-11, 2015Montreal, Canada
Jean-Michel Rendu, JMR Consultants, USA
An Introduction to Cut-off Grade Estimation:
Theory and Practice in Open Pit and Underground Mines (with a new section on
blending optimization strategy)
www.smenet.org
Professional Development SeminarsStrategic riSk Quantification and ManageMent
for ore reServeS and Mine Planning
2015
Geologic Constraints and Opportunity Costs ☛ Cut-off grade when processing capacity is fixed
☛ Cut-off grade when mining capacity is fixed
☛ Cut-off grade when volume of sales is fixed
☛ Releasing capacity constraints: a base metal example
Cut-off Grade and Mine Planning☛ Open pit mine: economic valuation of a pushback
☛ Underground mine: economic valuation of a stope
☛ Similarities between open pit and underground mine planning
☛ Block and panel caving
☛ Relationship between mine selectivity, deposit modeling, ore control, and cut-off grade
Which Costs should be Included in Cut-off Grade Calculations?☛ General considerations
☛ How specific costs influence cut-off grade calculations
☛ Other costs and benefits
Blending Strategy☛ Blending two material types
☛ Blending three material types
☛ Blending to maximize tonnage
☛ Remarks concerning an increasingly complex blending problem
Closing Remarks
Content and ObjectivesCut-off grades are essential in determining the economic feasibility and mine life of a project. The fundamentals of cut-off grade calculation, first established by Ken Lane for-ty years ago, are revisited. In this course it is shown how direct and indirect costs, opportunity costs imposed by op-erational constraints, and other factors, such as political risk, legal, environmental, and regulatory requirements, must be taken into account. Mathematical equations are developed and graphical analytical methods are displayed, which can be used to solve most cut-off grade estima-tion problems. It is shown how minimum cut-off grades are estimated and how they must be modified to take into account constraints imposed by mine or mill capacity, or by limits on sales volumes. Multiple practical examples are given, illustrating the role of cut-off grades in mine planning, in allocating material to different processes, in optimizing mill operating conditions, and in poly-metal-lic deposits. Examples also show the relationship between cut-off grades and the design of pushbacks in open pit mines, the development of new stopes in underground selective mining, and the optimization of block sizes in caving methods. The relationship between mine selectivi-ty, deposit modeling, ore control and cut-off grade is also discussed. A new section has been added in which graphi-cal and mathematical solutions are introduced to optimize blending strategies. Included in the course of registration is a copy of the second edition of the instructor’s book “An Introduction to Cut-off Grade Estimation”.
Course Outline Introduction☛ Mathematical formulation: Utility Function☛ Cut-off grade and grade-tonnage relationship☛ Direct profit and loss☛ Net Present Value☛ Opportunity costs and benefits☛ Other costs and benefits☛ Cut-off grade and blending strategy
Breakeven Cut-off Grade ☛ Cut-off grade between ore and waste
☛ Cut-off grades in open pit mines
☛ Cut-off grades in underground mines
☛ Cut-off grade between two processes
☛ Cut-off grade with variable recovery
☛ Constant tail model of variable recovery
☛ Breakeven cut-off grade and polymetallic deposits
☛ Opportunity cost of not using the optimum cut-off grade
☛ Cut-off grade and low grade stockpiles
☛ Cut-off grade and optimization of processing plant operating conditions
Capacity Constraints and Opportunity Costs ☛ When marginal analysis no longer applies: a gold leaching operation
☛ Capacity constraint and increase in cut-off grade
☛ Decreasing cut-off grade over time: a strategic objective
☛ Cut-off grade below marginal cut-off grade
☛ Cut-off grade optimization with opportunity costs: practical considerations
An Introduction to Cut-off Grade Estimation: Theory and Practice in Open Pit and Underground Mines(with a new section on blending optimization strategy)
The 2010 AusIMM Spectrum Series Vol. 17: “Advances in Orebody Modeling and Strategic Mine Planning I: Old and New Dimensions in a Changing World” is included with the course materials
PLEASE NOTE it is strongly recommended that participants bring a laptop
The New 2014 SME Book: “An Introduction to Cut-off Grade Estimation” is included with the course materials