Practical Geostatistics At Newmont Gold: A Story Of Adaptation

Newmont Gold's methods for deposit modeling vary, depending on geology, mining and processing methods, economic feasibility and availability of historical information. It is argued that successful modeling requires understanding these factors, knowing the strengths and weaknesses of the various modeling techniques and being flexible in selecting the appropriate methods. Newmont is one of the world's largest gold mining companies, with operations in the United States, Peru, Mexico, Indonesia and Uzbekistan. And it is active in exploration worldwide. At the end of 1996, Newmont declared a total reserve of 1.15 equity kt (37.1 million equity oz) of gold and 2.17 equity Mt (2.39 million st) of copper. The gold deposits managed by Newmont totaled 752 Mt (829 million st) of ore containing 1.28 kt (41.3 million oz) of gold averaging 1.71 g/t (0.05 oz/st). In addition, Newmont is developing a porphyry copper-gold deposit that totals 9.1 Gt (1 billion st) of ore containing 380 t (12.1 million oz) of gold and 4.82 Mt (5.32 million st) of copper. (In May 1997, Newmont Gold Co. merged with Santa Fe Pacific Gold Corp., thus increasing Newmont's reserves to 1.72 kt or 55.2 million oz of gold and 2.17 Mt or 2.39 million st of copper.)