Minimisation of Surface Mining Costs using Artificial Neural Network

doi:10.15242/ijrcmce.iae03170002

Cited by 1 publication

(1 citation statement)

References 3 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Ozdemir, B. and Kumral, M. [28] proposed a cost model that considers all activities in the mining cycle, adopting a system-wide approach to minimizing the total cost of bench production. Guo, H. et al [29] relied on artificial intelligence to estimate costs in open-pit copper mining [30]. An empirical analysis of mining operations in Australia was conducted by Valle de Souza, S. et al [31].…”

Section: Introductionmentioning

confidence: 99%

Empirical Analysis of Mining Costs Amid Energy Price Volatility for Secondary Deposits in Quarrying

Patyk,

Bodziony

2024

Energies

View full text Add to dashboard Cite

The outlined methodology for calculating operating costs in open-cast mines and quarries not only facilitates the selection of optimal mining equipment and systems for working lower-grade secondary deposits but also adds significant value in navigating the challenges of fluctuating prices of energy carriers and fuels. Moreover, the study rigorously assesses the impact of mining operations on the performance of deployed mining equipment and the overall viability of the rock mining project. The selection procedure relies on a comprehensive analysis of the technical and economic parameters of selected solutions, providing critical insights to guide decisions regarding the continuation or discontinuation of mining operations. We analyse, based on empirical data, the technical and economic parameters of several variants of mining equipment to be used for the extraction of rocks and stones from secondary deposits in conditions of fluctuation depending on the level of energy prices, in order to find the best configuration in terms of operating costs and potential revenue. In addition to analysing the structure of operating costs, the article presents their correlation with the required profit from the sale of raw materials using the linear correlation method. The results clearly demonstrate the economic viability of mining secondary deposits, taking into account the actual costs incurred by mining companies.

show abstract