Simulation models for mineral processing plants

Abstract Simulation is the process of designing a computerized model, of a system or procedure, for the purpose of understanding its behaviour and developing strategies to control its operation. Simulation models are rapidly becoming an effective tool for mineral processing plants. Powerful software and fast hardware are more readily available than a basic understanding of the theory of mathematical probability and applied statistics that process simulation models demand.
Simple spreadsheet software can be used to develop simulation models that take into account any set of conditions at a mineral processing plant. In addition to an unbiased estimate for each variable in the set on which two-and three-product formulas are based, reliable variance estimates for all variables are required. How to estimate variances, effectively and at the lowest possible cost, and how to compute variances for simple functions such as the metal content of a quantity of ore or concentrate, or more complex functions such as the percentage recovery at a mineral processing plant, are the key to useful simulation models.
Keywords: Mineral processing plants, Simulation models, Models.
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Publication: CIM Bulletin
Author(s): Alan R. Hill
Keywords: American Barrick Resources Corporation, Mining operations, Goldstrike Mine, Holt-McDermott Mine, Mercur Mine, Gold mining.
Issue: 953
Volume: 84
Year: 1991
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Publication: CIM Bulletin
Author(s): Joanna LaForte
Issue: 953
Volume: 84
Year: 1991
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Summary: This paper gives an insight into the various processes available to treat gold ores. A brief overview is given of the various types of refractory gold ores. Particular emphasis is given to comparing the costs of oxide vs refractory gold ore processes, inclusive of grinding through to dore bar.
Publication: CIM Bulletin
Author(s): K.G. (Ken) Thomas
Keywords: Mineral processing, American Barrick, Gold, Refractory gold ores.
Issue: 953
Volume: 84
Year: 1991
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Summary: Part 1 (CIM Bulletin, August 1991) of this article identified the limitations of the traditional modelling methods and demonstrated the approximations and errors introduced by their application to complex mining situations. The objective of Part 2 is to describe the evolution of new, proven technology which eliminates these deficiencies and provides precise and practical alternatives. These promote the use of realistic geological and mining shapes and eliminate altogether the rectangular...
Publication: CIM Bulletin
Author(s): Simon Houlding
Keywords: Computer applications, Modelling.
Issue: 953
Volume: 84
Year: 1991
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Summary: American Barrick has always balanced its aggressive operating approach with a conservative financial strategy. In fact, what enables their mining team to pursue such aggressive plans with confidence is the conservative financial strategy adhered to by the company. These policies are built on a prudent mix of gold linked financings, equity and gold price hedging.
This paper outlines these policies and focusses in particular on American Barrick's gold price hedging program.
Publication: CIM Bulletin
Author(s): Robert B. Wickham
Keywords: American Barrick Resources Corporation, Mineral economics, Price hedging, Gold price hedging.
Issue: 953
Volume: 84
Year: 1991
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Summary: The feasibility study determines the technical and economic viability of a project at the level of accuracy required by the owner to make an investment decision. The economic analysis usually includes calculation of the discounted cash flow. Key components of the cashflow include the project capital cost, the operating costs, construction schedule, production rate, product prices and financial details.
This paper examines the feasibility study for a typical mining project. The paper discusses...
Publication: CIM Bulletin
Author(s): J.R. Goode, M.J. Davie, L.D. Smith, C.R. Lattanzi
Keywords: Mineral economics, Feasibilty studies, Economic analysis.
Issue: 953
Volume: 84
Year: 1991
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Summary: From a company'spoint-of-view, a good investment decision is one which results in the purchase of an asset that is worth more than it costs. Thus, in order to judge the merit of an investment opportunity, it is necessary to estimate the value of the assets to be acquired.
Discounted cashflow (DCF) analysis has become widely adopted by companies in assessing potential new investments. The principle is a simple one: invest in projects which have a positive net present value, and reject those...
Publication: CIM Bulletin
Author(s): John Smith
Keywords: Mineral economics, Discounted cash flow analysis, Valuations.
Issue: 953
Volume: 84
Year: 1991
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Summary: Concurrent with the continuing demise of many Canadian mining towns is the rise of a new method of providing remote mine sites with a workforce. This is the Long Distance Commute (LDC) which uses commuter labour and requires no permanent settlements to support the mine operation. It provides a flexible and cost-effective method of operation to the industry and relieves both governments and industry of the expense of building and maintaining mining towns. However, little attention has been...
Publication: CIM Bulletin
Author(s): M. Phyllis Bray
Keywords: Human resources.
Issue: 953
Volume: 84
Year: 1991
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