IC 8480 Evaluating The Economic Availability Of Mesabi Range Taconite Iron Ores With Computerized Models

The Bureau of Mines developed computerized mathematical models to estimate the economic availability of Mesabi Range taconite concentrates; these are a quality model, a cost model, and an economic availability model. The quality model evaluates metallurgical test data; the cost model determines iron unit cost from mining and processing cost data; and the economic availability model determines quantity from geologic and ore quality data. By correlating all of the physical resource quality factors and dimensional characteristics with the economic cost factors associated with producing iron ore pellets, these three models combine to establish a final relation between iron ore reserve quantities and iron unit cost.