Mining project calculations in the model Calculating contained gold – additions to the mining stockpileĪs a prerequisite, set up the period start dates, end dates and the binary flags signifying the development and milling phases at the top of the worksheet. Waste mined is outside the scope of this tutorial, but you should know that it is a big driver for mining costs such as haulage and drill & blast. You would also find either strip ratio or the waste mined (tonnes) in here as well. At its most basic level it should contain (screenshot 1) ore mined (tonne) and the corresponding ore grade (grams/tonne) for each type of ore. The mining schedule is a summary of the physical aspects of the mining process and is usually provided by the engineers. Mining schedule in inputs sheet – foundation for stockpile calculations Financial modelling of stockpiles is a common challenge in any mining project, and this tutorial is inspired by the contents of our training course in financial modelling for mining projects. There are some things we suggest you put in your model from the outset to make the calculations transparent and easy to follow. Modelling the contained gold stockpile account.Calculating the milled ore from the ore mined.Creating the ore stockpile account with financial modelling techniques.How to calculate contained gold from the mining schedule.In this tutorial we will cover an approach to modelling stockpiles in mining projects. The build-up of stockpile requires careful treatment to ensure the right grade of the ore milled is modelled and that the right value of this stockpile is reported on the balance sheets. If you are ready to get started calculating stockpile volumes with a drone or iPhone, contact us and we’ll set you up with a stockpile inventory expert that can evaluate your needs and get you started with Stockpile Reports.For many mining projects, the open pit/cut mining process often begins months or even years before the milling plant starts operating. By implementing stockpile volume reporting into your organization via the Stockpile Reports app and drone measurement program, you’ll create cohesiveness and transparency throughout your entire organization. You won’t worry about the fear of running out (FORO) because you’ll be more confident in your inventory numbers. Knowing how much inventory you have on hand allows you to avoid the hidden costs of too much inventory and enables companies to align their sales and operations teams. If you already have an established drone program, your certified drone pilots can fly your worksites, upload the imagery to our system, and we’ll generate custom stockpile volume reports for your team. If you are interested in learning how to start your own drone program, you can check out our blog on how to get started flying your own drone. You’re welcome to fly your own drone with Stockpile Reports as well. Review and share the stockpile volume reports with your team.Identify which stockpiles you’d like measured.Our pilots come out and fly your worksites on your schedule.Schedule your drone flights with Stockpile Reports.Within 24 hours or less, you’ll have a custom stockpile volume report. Review the pile video and send it for processing.Measure the pile by pressing “record” to begin the measurement, walking the perimeter of the pile.Stand in front of one of the cones and frame the pile on the iPhone screen.
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