Open Cut Metals – Life of Mine Planning
MEC Mining was engaged by ASX-listed Company operating an open cut metal mine in northern Europe to undertake a full review of their deposit and to produce a Life of Mine Plan (LOM). The goal of the project was to produce a plan that was to be both sustainable and achievable, while maximising economical mining reserves and confidence.
MEC produced a plan with the following strengths:
- An improved understanding from the client of the risks associated with the LOM plan.
- An improved client awareness of the ultimate pit limits of all pits across their tenement.
- A strategic focus on future drilling targets that would add significant project value and subsequent JORC reserve upgrades.
- Nameplate Production achieved consistently across the majority of the LOM plan; exceeding outcomes of previous LOMs.
- A significant increase in mine life and ultimately project value.
- Planned crusher move postponed significantly, deferring major capital expenditure.
- LOM Plan achieved with the existing digger fleet, removing the requirements for major CAPEX associated with fleet upgrades.