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Cost analysis of material handling systems in open pit mining: Case study on an iron ore prefeasibility study

Author

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  • Marco de Werk
  • Burak Ozdemir
  • Bellal Ragoub
  • Tyrrell Dunbrack
  • Mustafa Kumral

Abstract

Selection of the optimal material handling system is one of the most significant decisions to be made in mineral industries. Rapid economic changes and technological improvements make cost analysis a complicated process. On the other hand, current low commodity prices have put a greater emphasis on cost reduction and process optimization to ensure viability of mining projects. In this article, two material handling systems, a semimobile in-pit crusher and conveyor systems (IPCC) and traditional truck and shovel systems (TS), are compared through the cost analysis of an iron ore prefeasibility study. Furthermore, robustness of the design parameters is evaluated through a sensitivity analysis to determine the relative importance of project parameters. Finally, risks associated with uncertain design parameters affecting cost analysis are assessed through Monte Carlo simulation. The results indicated that IPCC is more cost effective than TS.

Suggested Citation

  • Marco de Werk & Burak Ozdemir & Bellal Ragoub & Tyrrell Dunbrack & Mustafa Kumral, 2017. "Cost analysis of material handling systems in open pit mining: Case study on an iron ore prefeasibility study," The Engineering Economist, Taylor & Francis Journals, vol. 62(4), pages 369-386, October.
    • Handle: RePEc:taf:uteexx:v:62:y:2017:i:4:p:369-386
    DOI: 10.1080/0013791X.2016.1253810
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    Cited by:

    1. Keopaseuth Ketumala & Panlop Huttagosol, 2018. "Influence of Block Dimension and Equipment Selection on the Final Pit Determination of Small Coal Deposit at Bojan Village, Heenherp District, Vientiane Province, Lao PDR," International Journal of Technology and Engineering Studies, PROF.IR.DR.Mohid Jailani Mohd Nor, vol. 4(5), pages 179-188.
    2. Nakousi, C. & Pascual, R. & Anani, A. & Kristjanpoller, F. & Lillo, P., 2018. "An asset-management oriented methodology for mine haul-fleet usage scheduling," Reliability Engineering and System Safety, Elsevier, vol. 180(C), pages 336-344.

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