Basic Elements In The Economics Of An Open Pit Design

The economics of open pit mine design are dictated by three basic elements: cut-off grade, stripping ratio and slope angle. Although these elements are functions of a number of independent parameters, they are interrelated through their influence on the overall economics. The optimum slope angle is the most uncertain element to determine, because rock mass properties are difficult to obtain. However, for preliminary estimation, the slope angle can be determined from the relationship between the probability of failure and the safety factor. The economics of the slope selected will depend on a profit versus risk judgment. In this paper, the author will present an actual case of application of this postulate.