Mine viability

• Factors that impact the viability of Mineral Exploitation:

  • Purity
  • Chemical form
  • Industrial Infrastructure
  • Transport costs
  • Market demand and mineral price
  • depth of deposit
  • overburden quality
  • land value
  • size of deposit
  • drainage problems
• Viability - Purity

  • If the ore grade is low the more rock will need to be mined, more waste materials are produced, more energy is needed for mining and processing, more pollution will be generated and the cost will increase
• Viability - chemical form

  • the form affects the ease of chemical extraction
• Viability - industrial infrastructure

  • more infrastructure decreases the cost as it doesn't need to be built
  • needs to be close by to refine the mineral
• Viability - Transport cost

  • needs to be close to the area of demand
  • ease of bulk transport
• Viability - Market demand and mineral price

  • if people are willing to pay more then more mineral can be extracted
  • there needs to be a demand
  • increase in market price means lower ore grades can be mined, so the COOG decreases and more money can be used for extraction/refining/exploration of lower grade ore
• Viability - Depth of deposit

  • the deeper it is the higher the cost to mine it and the more overburden waste is produced
• Viability - overburden quality

  • If the overburden is hard rock and difficult to get through, it costs too much to reach the mineral
  • If it can be sold and used for other purposes there is more profit
• Viability - Land value

  • The land needs to be bought, so a lower value is needed
  • The best place is natural green area
  • The worst place is urban areas
• Viability - Size of deposit

  • the larger the size the higher the profit
  • if it is small it is not worth the effort
• Viability - Drainage Problems

  • Can't mine underwater if it builds up in the mine
  • Need to install a drainage system of pipes and pumps which is costly