Summary

This review describes how to estimate the cost of opening, developing, operating, reclaiming, and closing an ore body and mine site. The review describes cost estimating methods, gives ranges of costs, provides spreadsheet that may be used to estimate mining costs, for open pit and underground mines, and lists consultants and websites where additional information may be obtained.

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INTRODUCTION

Estimate the cost of construction, operation, and closure of the new mine and its ore body. Faced with this instruction, most would panic. What information does the internet provide to help you estimate the cost of opening and operating and closing a new mine and hence meet this management demand made late Friday pm (COB)?

Open Excel; set up a spread sheet; list every item you can think of and get the dollars per unit rate for each activity. The first three activities are easy; the last, an exercise in the genius of experience, web skills, and guessing. This review provides guidance on the list of items and the places on the internet where information is to be found rapidly and at no cost. With this information you can estimate the cost of opening, operating, and reclaiming a mine site and an exciting ore body prospect.