Opening a new mine or expanding an existing operation can be a challenging and daunting task. Aside from assessing and evaluating social-environmental concerns and designing the mining and material movement approach, the first question often asked is, "how much will it cost us to mine?" This may need to be determined even before you decide that there is …
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— Replacement of mining equipments has significant impacts on revenues and costs of a mining project. In fact, the lifespan of any equipment considerably impacts to its total cost of ownership and ...
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researches on mining equipment replacement are rarely observed in the literature. Qualitative evaluation of mining equipment replacement decision has been made by various authors [2-8].
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This document discusses the economics of replacing diesel mining equipment with electric alternatives. It notes that rising diesel fuel costs and pressure to reduce diesel emissions underground provide incentives to …
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— A finite-horizon equipment replacement analysis is presented by Hartman and Murphy (2006) in which the authors develop a dynamic programming model with stationary costs and the economic life as ...
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The operating cost can be defined as the sum of the recurring costs for efficiently operating the equipment in question. The operating cost data were collected from the mining company for the same period as that covered by the maintenance cost data collected (i.e. April 2016 to …
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— This paper discusses the first steps in a process which combines historical production and cost data with long term mine schedules to develop an equipment …
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— The proposed model shows that the absolute economic replacement time of the drill rig investigated in this case study is 81 months and the mining company operating the rig can replace it with an ...
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— Therefore, to maximize on profits a piece of equipment should be planned to be replaced before it reaches the economic life. The equipment life-cycle cost analysis consists of equipment replacement analysis and models, life-cycle costs and equipment decision procedures. Life-cycle costs for equipment consist of ownership and operating …
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equipment and costs incurred subsequently to add to, replace part of, or service it. The cost of an item of property, plant and equipment may include costs incurred relating to leases of assets that are used to construct, add to, replace part of or service an item of property, plant and equipment, such as depreciation of right-of-use assets.
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— The content provides comprehensive insights into cost estimation in the mining industry, covering various key components in detail. Skip to content. 25 Sep 2024. ... Economic Evaluation in Mining: Key Steps and Considerations. AllMinings 1 month ago 1 …
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— Based on an analysis performed in a case study, a life cycle cost (LCC) optimization model has been developed, taking the most important factors affecting the economic replacement time of drilling ...
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equipment and introduces a cost driver model developed by the which demonstrates authors how implementing electric equipment could lead to reduced operating and capital costs. Based on the cost driver model, the results of an economic assessment of electric mining using a discounted cash flow model will be presented and some case studies …
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ajulian.varaschin@gmail [email protected] Economics of diesel fleet replacement by electric mining equipment Julian Varaschina, Euler De Souza Ph.Db aGoldcorp, Ontario, Canada bQueen's University, Kingston Ontario Canada Over the past 10 to 15 years escalating energy costs, especially for diesel fuel, have helped erode the …
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— The global mining industry is under pressure. In the short term, falling commodity prices are squeezing cash flow. Looking ahead, many existing mines are maturing, resulting in the extraction of lower ore grades and longer haul distances from the mine face; ore-body-replacement rates are in decline; and new-mine-development times …
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The proposed model shows that the absolute economic replacement time of the drill rig investigated in this case study is 81 months and the mining company operating the rig can replace it with an identical one within an optimal replacement range of 6 months (i.e. from month 79-84) when the minimum total cost can still be achieved in practice.
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The open pit design and scheduling problem is a large-scale optimization problem that has attracted considerable attention during the last 40 years The development of the "know-how" to improve economics of open pit mining projects through the use of mathematical optimization techniques goes back to early 1960's.
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The proposed model shows that the absolute economic replacement time of the drill rig investigated in this case study is 81 months and the mining company operating the rig can replace it with an ...
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— In order to develop a reliable and effective equipment life cycle model, the stages of equipment life have to be defined. Equipment life can be defined using three different variables namely physical life, economic life and profit life (Mitchell, 1998).Both the physical and economic life must be calculated when considering equipment life because …
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— The operating costs of the equipment used in coal mining are simplified to facilitate the analysis of the different mining methods. ... gangue disposal, coal replacement, etc., can be considered. (1) Calculation of proceeds from coal sales ... and provide a reference basis for coal mining-related enterprises to choose a lower economic cost ...
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The purpose of this article is to develop a practical economic replacement decision model to identify the economic lifetime of a mining drilling machine. A data-driven optimization …
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Fundamentals of Asset Management 5 Concepts of cost particularly useful to AM Current replacement cost - The full cost to replace an asset in its current operating environment Life cycle cost - The total cost of an item throughout its life, including the costs of planning, design, acquisition, operations, maintenance, and
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Development of an economic replacement time model for mining equipment: a case study Hussan Al‑Chalabi1 Received: 17 January 2022 / Accepted: 5 March 2022 ... The life cycle cost of equipment is determined by sum-ming up …
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In mining operation equipment replacement represents a strategic decision problem. This paper presents an economic replace- ment time model for mining drill rigs.
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— The findings reveal that this mining system should replace conveyor belts yearly. It is concluded that, an equipment replacement policy for conveyor belts is a necessity in a mining system so as to achieve an optimal contribution to the economic value that a mining system may accrue within a period of time. DOI: …
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Under condition of market economy, long-term maintenance costs of the equipment should become the optimization goal of fully-mechanized coal mining machinery parts management. Using the average loss optimization model with consideration of reliability analysis, the minimum average loss oriented parts replacement cycle was solved and an …
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— The components are proposed to be replaced at their MTTF. However, replacements at optimal age of the components may yield better economic values. The age replacement models of heavy equipment and their reliability analysis are studied in many research works [17, 28]. For RCM of dragline components, the following procedures are …
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— Some authors have evaluated mining equipment performance using methods such as life cycle cost (LCC) for analyzing the replacement time or ... and replacement in mining equipment [1,3] and, for this reason, the OMEE index could be a potential tool to analyze this relationship. On the other hand, the OMEE index obtained from Mine 2 runs …
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— An asset is recognized if it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity, and the cost can be reliably measured. ... Cost of Mining Equipment: $1,000,000; Installation and Handling: $50,000; Total Cost (Book Value on Acquisition): $1,050,000;
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— The purpose of this article is to develop a practical economic replacement decision model to identify the economic lifetime of a mining drilling machine. A data …
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— What Is Replacement Cost? Replacement cost is a cost that is required to replace any existing asset having similar characteristics. An organization often chooses to replace its assets when the repair and maintenance costs increase beyond an acceptable level over some time. The company involves the insurance company to do the needful.
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