Using Run-of-mine Tonnage and Grade to Predict Cost and Categorize Gold Mines

Research Area: Volume 7,Issue 3, May 2018 Year: 2018
Type of Publication: Article Keywords: Cost, Gold Mine Category, Rom Grade, Rom Tonnage
Authors:
  • Karim Rajabu Baruti
Journal: IJEIR Volume: 7
Number: 3 Pages: 152-158
Month: May
ISSN: 2277-5668
Abstract:
This paper focuses on establishing logistic model of cost effect of run-of-mine tonnage and grade in the justification of categorization of gold mines. Gold mines could be categorized based on the abilities of rom-grade and rom-tonnage to predict cost. The data used in the generation of the logistic model were cash-cost as dependent variable vs. rom-grade, rom-tonnage as independent variables together with the type of mine obtained from 160 gold mines selected from the top 20 gold rich countries in the period of 7 years from 2002 to 2008. Logistic Regression Analysis using SPSS software was carried out to determine the probability of occurrence of low cost given rom-grade and rom-tonnage for either an open pit, underground or both mines together. The results indicated that only rom-grade with a cut-off value 5.385 g/t can be used to categorize gold mines as low and high grade while there was not enough evidence to categorize gold mines based on their rom-tonnage. The full model established in this study has a percentage correct of 62.9 compared to 57.9 percent by guess. The relationship between cost vs. rom-grade and rom-tonnage indicated that only 6.9 percent of the cost is accounted by rom-grade and rom-tonnage. This is a weak relation indicating that rom-grade and rom-tonnage are not the only determinants and therefore on their own must be used with precaution. Validation of the model agrees well with the actual results

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