Defining an Economic Scenario

You can define economic parameters either using a user-defined block calculation method or using an existing attribute value. These economic parameters are required to drive pit optimization strudy and phase generation.

Before you begin:
See Also
Preparing an Optimization Block Model
Creating a Scenario
About Scenarios
  1. From the Pit Optimization section of the action bar, click Economic Scenario .
  3. In the Economic Scenario dialog box, select the Block Valuation Method to specify how the block value is calculated.
    OptionDescription
    User-defined Applies a user-defined block value.

    By default, this option is selected.

    Value Attribute Enables you to apply an attribute value that has been previously defined and imported in the semantic dictionary

    The semantic dictionary defined in Data Setup is filtered to show only attributes that are related to the block model open in session.
  4. Select the User-defined check box to configure specific options, including commodity price and costs.
  5. In the Commodities and Prices section, select a grade attribute from thhe Element Grade Attribute list, and enter the required value per product quantity in the Price feld.
  6. In the Mining section, specify the value of the cost of mining in the Mining Cost field. The magnitude is cost per mass.
  7. Expand the Processing section to define the financial parameters relevant to the processing of the commodity.
  8. Enter the required Recovery percentage of materials that can be recovered from the processing plant. By default, 80% is defined.
  9. Specify the cost of processing the material per mass in the Processing Cost field
  10. From the Ore Selection Method options, selecton of the following
    OptionDescription
    Cash Flow Identifies the ore by the profit of the block calculated according to financial parameters. The block value is calculated implicitly. No additional parameters are required for this option.
    Cutoff Grade identifies the ore by a user-defined cutoff grade. This overrides the implicit ore selection criteria.
    • Using the Value AttributeBlock Valuation Method the block value is precalculated and exists within the block model. To configure a Value Attribute Block Valuation Method:
    1. Click Value Attribute.
    2. Select the required Block Value Attribute from the list.
  11. Click Ok.