Economic Model Setup and Pit Optimization Guide

Rumus Excel untuk PIT OPTIMASI Data

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Economic Model Setup and Pit Optimization Guide
Economics Settings: Options
The Options tab of the Economic Settings dialog, is used to set general options
relating to the specification of an economic model.

Field Details:

Cost Model: the preferred option whereby the Economic Model Generator calculates
revenues and costs, and classifies material as ore (raw material) or waste
following the logic of maximizing the deposit’s economic value.

Profit Model: any of the imported elements (products and attributes) can be used as
block net value field. The ore-waste classification is based on value; the blocks
with positive value are classified as ore and the remaining blocks are classified
as waste. MAO and MFO will not work with this option.

Product by ore type: the box is grayed out because the products are always included
in the Economic Model.
Attributes by ore type: if you imported elements other than products, you can
choose to include them in the Economic Model or not. This will not affect your
ability to use the attributes in recovery and cost formulas.

Waste types: you can maintain separate waste types for reporting and scheduling
(select this check box), or you can treat all waste as one to save resources (clear
the check box).

Volume: enable this to see the volume reported alongside tonnage for each Rock type
and Destination. It can also be used for defining scheduling targets.

Economic Model Essentials

The following information outlines key information relating to the generation of an
Economic Model.

Lexicon of terms
Economic Model

Cost Model: NPV Scheduler-calculated revenues and costs. The Cost model has up to
four dollar fields: Revenue, Processing Cost, Mining Cost and (optionally)
Underground Value, that is net block value when mined by the underground method.

Profit Model: Imported block net values. The Profit model has one dollar field
representing block net values. If you import block values instead of letting NPVS
calculate them, you will not be able to run MAO or MFO.

Reduced Economic Model: this economic model contains information relating only to
the Revenue, Processing Cost, Mining Cost and Value.

Full Economic Model: this economic model contains the following data fields; Rock
Type, Ore Tonnage, Mass, Product Grades, Recovered Products, Revenue, Processing
Cost, Mining Cost and Value.

Product Recovery: the fraction of product mass recovered by a given processing

method. For example, a Mill Au recovery of 0.9 means that 9 grams of gold will be
recovered by Mill from blocks containing 10 grams of gold. Product recovery can be
defined directly as fraction or as a formula.

Revenue: total receipts from selling products recovered from a block; accounts for
product prices and selling costs.

Processing Costs: method-specific costs of processing an ore block; a sum of up to

three components:

Upstream Costs: defined per mass unit of ore (raw material) directly or with a
formula.

Downstream Costs: defined per unit of recovered product for one or more products.

Ore Mining Differential Costs: a difference in mining costs when an ore parcel is
mined as ore and the same parcel is mined as waste; NPV Scheduler calculates these
costs automatically.

Mining Costs: costs of mining a block as waste.

Underground Value: revenue less processing and mining costs from a block if mined
by underground method; used by Lerchs-Grossmann optimization when underground
alternative is considered. To generate underground values, define at least one
Underground processing method.

[Link] (1017 bytes) Note that processing costs in this case must include mining
costs.

Mining Recovery: the percentage or fraction of ore parcel that reaches the
processing plant; for example, 90% mining recovery means that only 900 tons of 1000
tons parcel reaches the plant. Mining Recovery below 100% has the following
consequences:

The recovered product mass is reduced.

The Revenue and Upstream Processing Costs are reduced.

The net block values are reduced.

The reported in situ ore tonnages and element grades are unchanged. Multiply the in
situ ore tonnages by Mining Recovery factor to obtain tonnages processed.

Mining Dilution: ratio of rock mass sent to processing plant to ore mass; for
example, 5% Mining Dilution gives 1.05 dilution factor meaning that instead of a
1000 ton parcel the plant receives 1050 tons of diluted ore. Above zero Mining
Dilution has the following consequences:

Unit upstream processing costs increase by dilution percentage; for example

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Economic cutoff grades increase.

If product recoveries are defined as functions of grades, the recoveries are

reduced because of grade dilution.

The net block values are reduced.

Ore tonnages may be reduced owing to higher cutoffs.

[Link] (1017 bytes) Note that NPVS reports in situ ore; to obtain diluted
tonnages multiply in situ ore by the dilution factor.
In situ and recovered product mass may be reduced.

Mining Cost Adjustments (MCAF): block-specific or rock type specific multipliers

applied to reference mining costs.

Processing Cost Adjustments (PCAF): block-specific multipliers applied to

processing costs.

Rehabilitation Costs: costs of dumping unprocessed ore parcel.

Economic Cutoff: product grade at which revenue from selling the product equals the
costs of processing ore containing that product.

Minimum Cutoff: user-defined parameter; the effective cutoff is set to the greater
of two numbers: Minimum Cutoff and Economic Cutoff.

Maximum Cutoff: user-defined parameter; the effective cutoff is set to the smaller
of two numbers: Maximum Cutoff and Economic Cutoff.

Ore tests
The first test listed below is the most often-used. It works equally well for one
product as for multiple products; maximizing the revenue from the deposit by
selecting the optimum processing method for each rock parcel that is worth
processing. The remaining three tests are useful if you wish to control cutoff
grades directly by setting minimum cutoff or maximum cutoff. These three tests are
equivalent for one product models but quite different for multi-product ones.

Revenue exceeds Rehabilitation Costs: rock parcel is classified as 'ore' if

processing the parcel by at least one method is more profitable, or costs less,
than dumping it and paying rehabilitation costs. In the absence of rehabilitation
costs, it means that at least one method must yield revenues exceeding processing
costs.

Sum of grades divided by cutoffs greater than 1: the parcel is 'ore' if the sum of
product grades divided by product economic cutoffs is greater than 1.

All grades greater than their cutoffs: the parcel is 'ore' if grades of all
products exceed their respective economic cutoffs.

Any grade greater than its cutoff: the parcel is 'ore' if the grade of just one
product exceeds the product economic cutoff.

Economic Cutoff defined

The economic cutoff grades are calculated from the equation:

revenue per mass unit = processing cost per mass unit

The exact form of this equation depends on how the processing recovery is defined,
as a constant fraction or as a function of grade:

Notation
Symbol
Meaning

p
Product price.

s
Selling cost.

r
Product recovery.

r(y)
Product recovery as function of product grade.

d
Mining dilution.

c
Processing cost per mass unit of ore.

a
Processing cost per mass unit of product.

x
Economic cutoff grade in product unit per mass unit.

Constant recovery
The equation in the case of constant product recovery is:

(p-s-a)rx = d*c

hence;

x = d*c/[(p-s-a)*r]

If the product grade is defined as percentage grade, the reported economic cutoff
grade is 100*x.

Variable recovery
If you defined the product recovery (r) and/or processing cost (c) by a formula,
the recovery and cost are functions of grade where the grade adjusted for mining
dilution is given by x/d. Thus, the cutoff grade equation is

(p-s-a)*r(x/d)x = dc(x/d)

This, in general, is a nonlinear equation with respect to x which doesn't yield a

simple formula for x and must be solved numerically.

If the product grade is defined as percentage grade, the equation changes to

(p-s-a)r(100x/d)x = dc(100*x/d)

The reported economic cutoff grade is 100*x.

Actual cutoff versus reported cutoff

Economic cutoffs for all rock types, processing methods and products are reported
in economic settings reports. These cutoffs are calculated for a fictitious
“reference” ore parcel and do not necessarily match the actual cutoffs used by ore
tests which may vary from parcel to parcel for the following reasons:

Processing costs for a block are modified by location specific processing cost
adjustment factor (PCAF).

Product recoveries and/or processing costs are defined with formulas involving
other element grades contained in ore parcels.
Mining costs are adjusted for benches with different parameters (exit bench or cost
rate) for waste and ore.

Mining costs adjustments by bench

How the mining costs are adjusted
The mining costs for a parcel of ore or waste located at bench k are calculated as

Mining Cost = Reference Mining Cost + (k – Reference Bench) * Incremental Cost

Below for all benches below the Reference Bench.

Mining Cost = Reference Mining Cost + (Reference Bench - k) * Incremental Cost

Above for all benches above the Reference Bench.

Different mining costs for waste and ore

The differences between mining costs for waste and processing methods are usually
caused by different locations of processing plants, leach pads and waste dumps.
These differences may affect cutoff grades and ore tonnages.

For example, suppose that the cost of mining a block as waste is

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15=-11, if ore is treated as waste the block value is
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alto15, then the block would be classified as ore and have value $-11.
In other words, the differences between mining costs as waste and as ore must be
treated as extra processing costs rather than normal mining costs. Economic Model,
MAO, and MFO treat these cost differences in this way, which is reflected in the
program reports.

Underground mining alternative

For projects for which both open pit and underground mining methods are considered,
the economics of underground mining may affect the ultimate open pit.

The ultimate pit in the presence of an underground alternative is obtained by

modifying economic block values used for optimization as follows:

new value = block value when mined above ground - block value when mined
underground

To consider an underground alternative you need to define at least one underground

processing method for at least one rock type.

The underground methods are used to calculate the block values when mined
underground and Pit Optimizer uses these values when calculating the ultimate pit
and phases. Note, however, that only the block values when mined in open pit are
used for pit statistics, so the true open pit statistics are reported and charted.

Underground mining alternative notes

Waste parcels are ignored. If block contains waste and ore sub-cells (parcels),
only the ore sub-cells are assumed to be mined underground.

Include all underground mining costs in processing costs. Mining costs are ignored
when calculating Block values when mined underground, so you must include all
underground mining costs in the processing costs of underground processing methods.

Some open pit parameters are ignored. The following parameters are ignored for
Block values when mined underground calculations:

positional mining and processing cost adjustment factors (when imported with the
block model)

the rock type mining cost adjustment factors

mining dilution

mining recovery

rehabilitation cost.

Use a different rock type code for selective underground mining. If only some
blocks (sub-cells) are considered for underground mining, you should assign a
different rock type to these sub-cells and define an underground processing method
only for this rock type.

Pit Optimizer allows for switching off the underground option.

How it works
Economic Model Generator evaluates all blocks in the input Parcel Model parcel by
parcel, applying the selected ore test and calculating revenues and costs. This
results in two economic models: Full and Reduced.

Checking model calculations

You can follow the logic of the Economic Model Generator with the Check Values
button of Optimization screen's Economic Model group.

Economic parameters
The Check Values function uses economic parameters defined in the Economic Settings
dialogs prior to opening the spreadsheet document. Changes in Economic Settings do
not affect opened or saved reports. If you wish to see revenue calculations for a
different set of economic parameters; make changes in the Economic Settings dialogs
and use the Check Values command again.

Report at a glance
The Check Values report has white cells, green cells, yellow cells, and push
buttons. The program populates the white cells automatically and are read-only. The
columns to the right of the automatically generated text are editable, and can be
used for making notes. The green and yellow cells are used for entering the parcel
and block parameters, and amending the yellow cells is optional.

The buttons deliver signals to perform calculations. Note that some calculations
are performed automatically when you type a number into a cell and press <Enter> or
de-select the cell.

You enter the parcel and block parameters in the green cells at the top left corner
of the spreadsheet. The revenue and cost calculations for the parcel are displayed
below after you click Calculate. In a column to the right you can type parcel
tonnages and, optionally, block tonnage or volume. The revenues and costs for all
parcels and the block are displayed automatically in columns further to the right.
Still further to the right, you can click Check to call the procedure employed by
the Economic Model program and compare the results.

Parcel and block parameters

Parcel rock type. Select the rock type from the list of all rock types.

Parcel element grades. Type the grades in the green cells next to element labels.
The grades of elements other than products are relevant only if they are used in
recovery or processing costs formulas. If they are not, you can leave the
corresponding cells empty.

The bench, 1, 2, 3, etc. counting from the top, at which the block is located. This
entry is relevant only if you defined mining cost adjustments by bench; else, you
can leave this cell blank.

The block processing cost adjustment factor (PCAF).

The block mining cost adjustment factor (MCAF).

Notes
The bench, PCAF, and MCAF parameters must be the same for the entire block which
may consist of many parcels. Therefore, the program will allow you to change these
parameters only before creating more than a single parcel.

For all calculations, the percentage grades are replaced by tonnes of element per
tonne of ore grades. In other words, the entered percentage grade values are
multiplied by 0.01. These modified grades are shown in the Result column whenever
grades (e.g. cutoff grades) are mentioned.

The additional parameters allow you to specify the tonnage of each created parcel
and, optionally, the tonnage of the entire block (the block tonnage is replaced by
block volume if, on the Economic Settings screen, you had chosen the Mining cost by
volume option). The difference between the block tonnage and the sum of parcel
tonnages is treated as "undefined waste", which is displayed one row below the row
showing the block parameters.

Step by step
Enter the parcel parameters in the top left corner of the spreadsheet.

Click Calculate.

Repeat steps 1) and 2) to create more parcels (up to 100). Note that if you change
the bench, PCAF, or MCAF parameter after creating one parcel, the parcel data will
be recalculated but a new parcel will not be created.

Enter the parcel tonnages next to "Parcel 1", "Parcel 2", etc. labels. If you wish,
enter the block tonnage. The parcel and block revenues and costs will be
recalculated after each entry. You can change any of these entries at any time.

Click Check to call the Economic Model procedure for calculating block parameters.

Editing parcel parameters

You can edit parcel rock type and grades anytime after the parcel has been created.
For example, in order to edit Parcel 4:

Select the cell with the "Parcel 4" label.

Choose the Parcel command from the Edit menu.

Edit the parameters in the Edit parcel parameters dialog and click OK. All
calculations for the parcel and the block will be automatically updated.

Mining costs adjusted by bench

The Economic Settings allow for specifying different mining cost adjustments by
bench for ore and waste. This difference may affect the calculations that determine
whether it is more profitable to process a given parcel as ore or treat it as
waste. To account for this, the difference in cost between mining a parcel as ore
and as waste is added to the processing cost and mining costs of all parcels is
bench-adjusted as for waste.

Mining costs by volume

If the mining costs are calculated by volume rather than by mass, the costs are
evaluated only for entire blocks, not for individual parcels. In this case, neither
adjustments by rock type nor by bench can be used. Instead, all adjustments must be
defined block by block as MCAF and imported with the block model.

Data Import Essentials

Lexicon of terms
Geological Block Model: a Block Model populated with ore (raw material) and waste
cells containing product grades (qualities) and other information. Air cells
(voids) need not be present.

Product: metal or other mineral element that can be recovered from ore (raw
material) and sold at a price. The Geological Block Model must define at least one
product.

Attribute: a mineral element or any other data item that is relevant for mine
planning, for example, to ore processing.

Density: a ratio of rock mass to rock volume.

Tonnage Factor: a ratio of rock volume to rock mass, the inverse of density.

Tonnage: the rock mass in tons or any other mass unit.

Ore Fraction: a cell or sub-cell fraction that is ore; the remaining part of the
cell is assumed to be waste. Ore Fraction is commonly used by applications that do
not support sub-cells.

Element grades (qualities) must be given relative to the effective ore tonnage, not
the entire cell tonnage.

Ore Percentage: the Ore fraction multiplied by 100.

Indicator Data: data item taking integer values. Rock types, surface collections,
slope regions are commonly defined by Indicator Data.

Mining Cost Adjustments (MCAF): on import, block specific multipliers applied to

reference mining costs.

Processing Cost Adjustments (PCAF): block-specific multipliers applied to

processing costs.

Reblocking: clustering sub-cells from a number of cells into a larger cell; process
used to optimize block model size for long-term planning, see the note below.

Geologic model content

One Product field is required; any number of product fields can be imported.

Attribute fields are optional; any number of attribute fields can be imported.

Density, Tonnage Factor and Tonnage fields all define cell (sub-cell) mass, so only
one of the three can be imported. These fields are optional; if none are present,
all cells will be assigned the same default density.

Ore Fraction and Ore Percentage fields define the same thing, so only one of the
two can be imported. Element grades (qualities) must be given relative to the
effective ore tonnage, not the entire cell tonnage. These fields are optional.

Rock Types field is optional; if present, rock types can be represented by

indicator data (integer rock codes) or by word labels.

Slope Regions field is optional; if present, slope regions can be represented by

indicator data (integer slope codes) or by word labels.

Up to two surface (pit) collections represented by indicator fields can be imported

with the Geological Model. The pits must be represented by positive (nonzero)
integer values; other values will be ignored. The two collections are referred to
as “Mining Surface” and “Property Surface”.

Volume field is optional; this field is commonly used to import cell percent (or
fraction) below topography fields. Volume cannot be imported in conjunction with
Tonnage field (cell rock mass defined directly).

MCAF and PCAF fields are optional.

Notes
One Product field is the only required field; all other fields are optional.

The Product field may represent profit (block value), see Profit Model.
You can also import data like surfaces and outlines (digitized strings)
independently of the geologic model.

Models with large numbers of small blocks (cells) are not appropriate for life of a
mine planning. Ideally, the block height should be close to the real bench height
while X and Y dimensions should be in the range of 10 to 40 meters. Reblocking
preserves all original geological information; it neither averages or dilutes
grades, nor mixes rock types. Reblocking affects the ultimate pit therefore
exceeding the recommended block size may have negative impact on mine planning
accuracy.

Data Import Essentials

Lexicon of terms
Geological Block Model: a Block Model populated with ore (raw material) and waste
cells containing product grades (qualities) and other information. Air cells
(voids) need not be present.

Product: metal or other mineral element that can be recovered from ore (raw
material) and sold at a price. The Geological Block Model must define at least one
product.

Attribute: a mineral element or any other data item that is relevant for mine
planning, for example, to ore processing.

Density: a ratio of rock mass to rock volume.

Tonnage Factor: a ratio of rock volume to rock mass, the inverse of density.

Tonnage: the rock mass in tons or any other mass unit.

Ore Fraction: a cell or sub-cell fraction that is ore; the remaining part of the
cell is assumed to be waste. Ore Fraction is commonly used by applications that do
not support sub-cells.

Element grades (qualities) must be given relative to the effective ore tonnage, not
the entire cell tonnage.

Ore Percentage: the Ore fraction multiplied by 100.

Indicator Data: data item taking integer values. Rock types, surface collections,
slope regions are commonly defined by Indicator Data.

Mining Cost Adjustments (MCAF): on import, block specific multipliers applied to

reference mining costs.

Processing Cost Adjustments (PCAF): block-specific multipliers applied to

processing costs.

Reblocking: clustering sub-cells from a number of cells into a larger cell; process
used to optimize block model size for long-term planning, see the note below.

Geologic model content

One Product field is required; any number of product fields can be imported.

Attribute fields are optional; any number of attribute fields can be imported.

Density, Tonnage Factor and Tonnage fields all define cell (sub-cell) mass, so only
one of the three can be imported. These fields are optional; if none are present,
all cells will be assigned the same default density.

Ore Fraction and Ore Percentage fields define the same thing, so only one of the
two can be imported. Element grades (qualities) must be given relative to the
effective ore tonnage, not the entire cell tonnage. These fields are optional.

Rock Types field is optional; if present, rock types can be represented by

indicator data (integer rock codes) or by word labels.

Slope Regions field is optional; if present, slope regions can be represented by

indicator data (integer slope codes) or by word labels.

Up to two surface (pit) collections represented by indicator fields can be imported

with the Geological Model. The pits must be represented by positive (nonzero)
integer values; other values will be ignored. The two collections are referred to
as “Mining Surface” and “Property Surface”.

Volume field is optional; this field is commonly used to import cell percent (or
fraction) below topography fields. Volume cannot be imported in conjunction with
Tonnage field (cell rock mass defined directly).

MCAF and PCAF fields are optional.

Notes
One Product field is the only required field; all other fields are optional.

The Product field may represent profit (block value), see Profit Model.

You can also import data like surfaces and outlines (digitized strings)
independently of the geologic model.

Models with large numbers of small blocks (cells) are not appropriate for life of a
mine planning. Ideally, the block height should be close to the real bench height
while X and Y dimensions should be in the range of 10 to 40 meters. Reblocking
preserves all original geological information; it neither averages or dilutes
grades, nor mixes rock types. Reblocking affects the ultimate pit therefore
exceeding the recommended block size may have negative impact on mine planning
accuracy.

Pit Optimization Settings: Time

In this dialog you define parameters needed for NPV evaluations. For detailed
explanation of the overall process, see Pit Optimization.

Field Details:

Annual discounting: enter a percentage discount rate between 0 and 100.

Average ore output rate: enter the ore (raw material) tonnage the mine will produce
per selected time period, usually a year (365 days). The Ultimate Pit Optimal
Extraction Sequence (UP OES) is used to calculate the first n tonnes of ore (where
n is specified using the tonnes field) and the net profit generated from this
activity is discounted by the figure shown in the Annual Discounting field, above.
The next n tonnes are further discounted as if they are mined in year 2, and so on.
This can be expressed by the following formula for a 10% Annual discounting value:

Kth year NPV = Net value / (1+0.10)k

The rate is defined in terms of recovered and/or diluted ore option becomes
available only when Mining dilution or Mining recovery are changed from their
default values in the Economic Settings dialog.

[Link] (910 bytes)

Pit Optimization Essentials

Lexicon of terms and acronyms
● Lerchs-Grossmann (LG) method: Mathematical algorithm belonging to the family of
Network Flows methods that finds open pit shell yielding maximum profit.

● Lerchs-Grossmann parametrization: Successive application of the LG method to a

block model with varying block values (net profits from blocks). The block values
can be modified (parametrized) directly (each block reference value is multiplied
by a factor), through product prices (the gross revenue or the price less the
selling cost are multiplied by a factor), or through mining costs (the mining costs
are multiplied by a factor). For direct and price parametrizations, small positive
fractional factors yield small pits with high grade ore; gradually increasing the
factors produces a sequence of ever bigger pit shells. Typically, we start at 0.01
and go up by 0.01 until we reach 1.0; sometimes we continue beyond 1.0, for example
up to 1.2. For mining costs parametrization, the pit size increases when the factor
decreases; we may start with 2.0 and descend down to 1.0.

● Ultimate Pit: A pit shell defining the limits to mining for the given deposit. In
mining literature this term is sometimes synonymous with LG Ultimate Pit.

● LG Ultimate Pit: Ultimate Pit obtained with the LG method.

● Discounted Ultimate Pit: LG Ultimate Pit when the block values have been
discounted by the [Top-Down] method.

● Maximum Resource Pit: a pit that contains all ore that is mineable under given
slope angles; can be generated with the LG method by setting all costs to zero.

● Nested Pits: a sequence of pits where each pit, except for the first one, is an
extension of the previous pit in the sequence.

● LG Shells or LG Phases: Nested Pits generated by LG parametrization.

● Optimal Extraction Sequence (OES): a sequence of blocks that is mineable under

given slope angles and optimized according to some criteria. Mining blocks in OES
creates nested pits. The number of all possible nested pits equals the number of
blocks in OES.

● Blended OES: OES generating nested pits maintaining balance between elements or
rock types according to user defined blending criteria.

● Pit by Pit OES: OES generated with respect to a given sequence of nested pits
according to the following principles. (1) OES mines the first pit, then the
second, and so on until the last. (2) Within each pit blocks are mined bench by
bench. (3) On each bench blocks are sorted according to their values and to follow
the contiguous mining rule as close as possible.

● Pit Optimizer OES: Pit by Pit OES with respect to LG Shells.

Defining pit slopes

An NPV Scheduler slope model allows you to divide block model volume into three
dimensional (3D) Slope Regions. If you do not define slope regions explicitly, the
entire block model volume is treated as a single slope region. The number of slope
regions is not limited but using small or “thin” volumes as slope regions may
result in a loss of slope modeling accuracy. The slope angles within each region
can vary with azimuth.

The 3D slope regions can be imported as a field of geological block model or

created in NPV Scheduler from NPV Scheduler 3-style 2D outlines and separating
surfaces. The outlines can be imported or digitized in NPV Scheduler.

The modeling accuracy of slopes within a region is controlled by two slope filter
dimension parameters. In most cases the two parameters can be identical. The LG
method is sensitive to the values of filter dimensions not exclusively for slope
modeling reasons; small values may result in an incorrect ultimate pit, large
values may increase the processing time considerably. Experience shows that the
slope filter dimensions less than 8 may result in incorrect pits whatever the slope
angles. For example in a model with cubic blocks, a 45 degree slope angle can be
modeled with 1 by 1 slope filter, but because we rely on the LG method we need to
use a larger 8 by 8 filter.

NPVS helps you choose the right filter dimension parameters with:

● advice based on block geometry applicable to models with XY square blocks and
slope regions with uniform angles in all directions. NPV Scheduler presents you
with a list of best filters between 8 and 10, fewer than 20, fewer than 30, fewer
than 40 and fewer than 50. Keep in mind that large filters require longer Pit
Optimizer processing times.

● a Check Slopes tool that gives modeling errors for any block shapes and any slope
definitions.

Defining pit limits

You can restrict ultimate pit to an area within block models in one of two ways:

● Digitize or import an outline outside which mining is not allowed.

● Digitize or import outlines inside which mining is not allowed.

You can also import or digitize outlines of areas that can be removed at a cost
only in their entirety or not at all. The examples include rivers, railroads,
buildings etc. NPV Scheduler treats the removal costs as capital expenditures and
accounts for them in optimization and reporting.

Ultimate pit and model edges

Pit Optimizer does not allow any pit to extend beyond the block model edges defined
by vertical planes X=1, X=nX, Y=1, and Y=nY. At the intersections of these planes
with the initial topography, the pit can be at most one block deep.

If you import a model that does not define all cells below the initial topography
in the nX by nY by nZ rectangular volume, the initial topography along the model
edges may be set to the lowest model elevation. In this case, the ultimate pit can
go across the boundaries of the solid portion of the model. To avoid this you can
define explicit pit limits.

Time flow and NPV calculations

Pit Optimizer assumes time flow to be proportional to the tonnage of ore mined. NPV
is calculated for OES so the time the 2001st block in the sequence is mined is
given by the ore contained in the preceding 2000 blocks.

For example, suppose you set ore mining rate to 1,000,000 tonnes per 365 days, that
is, to 2739.726 tonnes per day; and the annual discounting rate to 15% which is
equivalent to 0.15/365 daily fractional rate. If the first 2000 blocks in the OES
contain 2,342,466 tonnes of ore, the 2001st block is mined on 855th day of mining
and its NPV equals its value multiplied by

= 0.73037

The NPV of the OES is the sum of NPV of its member blocks.

Pit Optimizer NPV is defined as the NPV of Pit Optimizer OES.

Top Down Discounting

The purpose of the Top-Down discounting method is to improve project's NPV by
excluding from the ultimate pit ore that could be reached only after mining large
amounts of waste. The method is based on the fact that the open pit mining always
proceeds from the top down and often waste must be mined before the ore is reached.
Since the expenditures on mining waste precede the revenues from mining ore, some
deep ore zones may not be worth mining if the time value of money is considered
even though they are included in the non-discounted LG ultimate pit.

The Top-Down method uses a procedure based on multiplying block value by a discount
factor that is a function of:

● the annual cost of money,

● an estimate of the average annual vertical advance rate of mining, and

● the relative depth of the block.

For example, using a 12% discount rate and an average vertical advance rate of 6
benches per year, the block values should be discounted by 2% (r=0.02); therefore,
the discount factor for the kth bench counting from the top of the model is
(1/1.02)**k. The values of all blocks at that bench will be multiplied by this
factor, whether the block has a negative or positive value.

[Link] (1017 bytes) Top-Down Discounting is a useful heuristic method but it is

not guaranteed to improve NPV for every mine.

Check Slopes
You can check slope modeling accuracy for selected filter dimensions with Check
Values command of Task Pane Optimization screen's Ultimate Pit group. The command
generates report that lists maximum possible errors and average errors in the four
principal directions for each slope region:

● [Best possible approximation] tells you how well the slopes can be modeled, given
the cell dimensions defined by the imported block model, with very large filters.

● [Slope approximation obtained with the current slope filter dimensions] tells you
how well the slopes will be modeled with the current settings

Pit Optimization: Quick Start

A key decision for pit optimization is the choice of optimization criteria. NPV
Scheduler Pit Optimizer offers two choices:

● Optimization directed at profit and NPV maximization. For this option select
Maximize cash flow in the Ultimate Pit dialog and Optimize NPV in the Sequencing
dialog. For a greater range of possible ultimate pits run Pit Optimizer with and
without Top-Down discounting.

● Optimization directed at maintaining balance between mineral elements or rock

types according to user defined blending criteria. For this option select either
Maximize cash flow or Maximize resources in the Ultimate Pit dialog and Optimize
blending in the Sequencing dialog. Follow up with one or more blending criteria. A
typical blending criterion is to keep an element grade, or a combination of grades
like silica modulus, within certain limits that may vary over time.

To complete your Pit Optimizer settings:

● Set the ore mining rate and discount rate. These parameters affect mine life-time
and NPV estimates.

● Set the slope angles by region or for one global region encompassing the entire
block model volume (default). To set the slopes by region you must have imported 3D
regions with the block model or created them in NPVS. The available region sets are
shown in the Slopes dialog as Slope region files; the regions within a file are
identified by labels.

To make a slope region file in NPV Scheduler:

Digitize 2D outlines in a Plot view, or import outlines from another application

(optional).

Import Separating surfaces that partition the block model vertically (optional).

Select Define Slope Regions on the Task Pane Optimization screen. To make the
regions you can use either 2D outlines, or separating surfaces, or both.

● Select your Pit limits, if required. Pit limits are 2D outlines imported or
digitized in the Plot View. The available pit limits files are shown in the Options
dialog.

● Select the Initial topography if other than the default topography is generated
from the block model. Any internally generated or imported surface can be used as
the initial topography.
Hmm, this is a complex technical document about economic modeling and pit
optimization in mining software. The user seems to need a clear, structured
overview rather than detailed explanations since they provided extensive raw
documentation.

The key is to organize this into digestible sections while maintaining technical
accuracy. The response should start with the core purpose of economic modeling,
then break down the two main models (Cost vs Profit), followed by critical
parameters and practical workflow guidance.

I notice some repetitive content in the original document about data import and pit
optimization essentials. The response should consolidate these while highlighting
the most actionable information for a mining engineer or planner. The underground
mining alternative section is particularly important as it involves special
calculations.

The tone should remain professional but accessible, using clear definitions for
specialized terms like LG method and OES when they first appear. Since this is
software documentation, precision matters but the goal is usability.

Of course. This is a comprehensive set of documentation for the NPV Scheduler

software, covering Economic Model setup, Data Import, and Pit Optimization. Here is
a structured summary and explanation of the key concepts, organized for clarity.

Overview
The documentation describes a three-stage process within a mine planning software
(NPV Scheduler):

Data Import: Bringing the geological block model into the system.

Economic Modeling: Defining how to calculate the financial value of each block of
material (ore or waste).

Pit Optimization: Determining the most profitable physical pit shell and the
optimal sequence to extract the blocks.

1. Economic Settings & Model

This is the core engine that converts geological data into financial data.

Key Concepts
Economic Model: A block model enriched with financial data (revenue, costs, net
value).

Reduced vs. Full Economic Model: The Reduced model contains only key financial
fields (Revenue, Processing Cost, Mining Cost, Value). The Full model includes all
details like rock type, grades, and recovered products.

Two Primary Economic Models

Feature Cost Model Profit Model
Core Idea The software calculates block value by maximizing economic value.
You import pre-calculated block net values.
Calculation Based on defined revenues, processing costs, and mining costs. Uses a
single imported value field.
Ore/Waste Classification Based on the logic of maximizing the deposit's total
value. Simple: Positive value = Ore, Negative value = Waste.
Advanced Features Compatible with MAO (Mineable Shape Optimizer) and MFO (Milky Way
Optimizer). Not compatible with MAO or MFO.
Critical Parameters & Formulas
Product Recovery: The fraction of a mineral recovered during processing. Can be a
constant or a formula based on grade.

Mining Recovery (<100%): Results in less ore tonnage reaching the plant, reducing
revenue and costs proportionally. In-situ reported tonnages remain unchanged.

Mining Dilution (>0%): Results in extra waste material being sent to the plant,
increasing costs and diluting grades. This raises the economic cutoff grade.

Economic Cutoff Grade: The grade at which revenue from a block equals its
processing cost.

Constant Recovery Formula: x = (d * c) / [(p - s - a) * r]

x = Cutoff Grade

d = Dilution Factor

c = Processing Cost per ton

p = Product Price

s = Selling Cost

a = Downstream Cost per unit product

r = Recovery
Ore Tests: Rules to classify material as ore or waste.

Revenue exceeds Rehabilitation Costs: (Most common) Is processing the parcel more
profitable than dumping it?

Sum of grades/cutoffs > 1: Useful for multi-product deposits.

All grades > cutoffs: Very conservative.

Any grade > cutoff: Very liberal.

Underground Mining Alternative

The optimizer can consider whether it's more profitable to mine a block via open
pit or a defined underground method.

Crucial Note: All underground mining costs must be included in the underground
processing method's costs, as the standalone "mining cost" field is ignored for
this calculation.

2. Data Import Essentials

This stage is about preparing and loading the geological data.

Geological Block Model: A 3D block representation of the deposit.

Required Field: At least one Product grade (e.g., gold, copper).

Optional Fields: Attributes, Density, Rock Types, Slope Regions, Cost Adjustment
Factors (MCAF, PCAF).

Ore Fraction vs. Grades: A critical point is that element grades must be defined
relative to the ore tonnage within a block, not the total block tonnage.

Reblocking: The process of combining small geological blocks into larger planning
blocks. This is essential for long-term planning efficiency but must be done with
care to avoid negatively impacting accuracy.

3. Pit Optimization
This stage uses the economic model to design the mine.

Key Terms
Lerchs-Grossmann (LG) Algorithm: The mathematical method used to find the pit shell
with the maximum total undiscounted profit.

Ultimate Pit: The final, deepest pit boundary based on the LG algorithm.

Nested Pits (LG Shells/Phases): A sequence of pits, each larger than the last,
generated by varying economic parameters (e.g., product price).

Optimal Extraction Sequence (OES): The order in which blocks should be mined to
maximize value while respecting slope constraints.

Pit by Pit OES: Mines out one nested pit completely before starting the next.

Blended OES: Sequences mining to maintain a consistent blend of material (e.g.,

keeping head grade stable).

Workflow and Critical Settings

Define Pit Slopes:
Slopes are defined by 3D Slope Regions.

Slope Filter Dimensions control accuracy. Too small can cause errors; too large
slows processing. The software provides tools (Check Slopes) to find the right
balance.

Define Pit Limits:

Use 2D outlines to restrict where mining is allowed (e.g., to avoid a protected

area).

Set Time & NPV Parameters:

Annual Discounting: The interest rate used to calculate the present value of future
cash flows.

Average Ore Output Rate: The mine's processing capacity (tonnes per year). This
determines how long it takes to mine the sequence and is crucial for discounting.

Choose Optimization Goal:

Maximize NPV: The primary goal for most projects. Uses LG and OES to maximize the
discounted cash flow.

Maximize Blending: Used when the priority is to produce a consistent product, even
if it sacrifices some NPV.

Top-Down Discounting
A heuristic method that applies a depth-based discount factor to block values
before running the LG algorithm.

Purpose: To exclude deep, high-value ore that would take too long to reach, as its
present value is low due to the high cost of mining the overlying waste first.

It is a useful tool but is not guaranteed to always improve the final NPV.

Summary of the Overall Process

Import: A geological model is imported, containing grades, rock types, and other
attributes.

Economic Modeling: The software uses prices, costs, recoveries, and dilution to
calculate a financial value for every block, classifying it as ore or waste (using
the Cost Model). The "Check Values" function allows you to verify these
calculations.

Pit Optimization: The software uses the Lerchs-Grossmann algorithm to find the most
profitable ultimate pit shell, considering slopes and physical constraints.

Sequencing & NPV: An Optimal Extraction Sequence (OES) is generated to mine the
pit. The project's Net Present Value (NPV) is calculated by discounting the cash
flows from this sequence based on the mining rate and annual discount rate.

Buatkan Rumus Excel untuk mendapatkan parameter PIT OPTIMASI Dari data resource
berikut. (Usahakan Sheet Kolom dan barisnya relevan dan rumus benar) "SHEET
DATA_BLENDING "Kolom / Baris A B C D E F G H I J K L
1 Ore Type Material COG Tonase (ton) Proporsi Ni% Fe% SiO2% MgO% Co% Al2O3% S/M
2 1 Saprolite (HGS) 1.24 3,090,050.21 0.65 1.48 13.94 37.65 21.45 0.03 2.44 1.76
3 3 Limonite (HGL) 1.32 1,637,140.03 0.35 1.49 41.73 13.70 4.19 0.10 6.19 3.27
4 BLENDED RESULT 4,727,190.24 1.00 1.48 23.56 29.35 15.47 0.06 3.74 1.90
5 2 Saprolite (MGS) 1.21 326,789.00 0.64 1.22 13.60 37.50 22.18 0.03 2.72 1.69
6 4 Limonite (MGL) 1.3 187,743.02 0.36 1.31 43.38 12.24 4.08 0.10 6.48 3.00
7 BLENDED RESULT 514,532.02 1.00 1.25 24.47 28.28 15.57 0.06 4.09 1.82
8 5 Saprolite (WASTE) 0.21 40,989,774.84 0.61 0.74 12.70 36.16 25.24 0.03 3.69 1.43
9 5 Limonite (WASTE) 0.24 25,684,196.24 0.39 0.86 38.09 13.69 4.67 0.10 7.78 2.93
10 BLENDED RESULT 66,673,971.08 1.00 0.79 22.48 27.50 17.31 0.06 5.27 1.59
11 GRAND TOTAL 71,915,693.34 1.00 0.84 22.57 27.63 17.18 0.06 5.16 1.61
12
13 Ore Type %Ni (COG) Litho Keterangan
14 0 <1 BRK Waste
15 1 ≥ 1.24 SAP (HGS) Ore Primer RKEF
16 2 1.21-1.24 SAP (MGS) Ore Pem-Blending RKEF
17 3 ≥ 1.32 LIM (HGL) Ore Pem-Blending RKEF
18 4 1.3 -1.32 LIM (MGL) HPAL Ore
19 5 < 1.21 SAP (LGS) Overburden (OB)
20 5 < 1.3 LIM (LGL) Overburden (OB)
21
22 BLENDED RESULT Tonase (ton) Proporsi Ni Product Gross Ni Price Net Ni Price
23 PRODUK 1 4,727,190.24 0.90 1.48% 23.02 20.76
24 PRODUK 2 514,532.02 0.10 1.25% 16.61 1.63
25 Total 5,241,722.26 1.00 22.39

Sheet VALUE"
Kolom / Baris A B C D E
1 NO VARIABLE VALUE & UNITS COMMENTS Sumber Terbaru
2 1 Mining Method Opencast
3 2 Ore Resources Product 1 ore. The development drilling is progressing in order
to convert resources to reserve.
4 Product 2 ore. The development drilling is progressing in order to convert
resources to reserve.
5 3 Mining Dilution Based on the latest study
6 4 Nickel Grade Product 1 ore
7 Product 2 ore
8 5 Mining Preparation Starting from 2025
9 6 Life of mine plan This is based on the existing reserve. It is subject to
change as the exploration program continues to convert resources to reserves.
10 7 Mining Capital Cost Million USD. Including equipment procurement, Civil
construction, and financing cost and assumed this is split 20%:80%
11 8 Mining Recovery Product 1 (Ni 1.48)
12 Product 2 (Ni 1.25)
13 9 Mining Production Million wet metric tons for Limonite and saprolite Ore
14 10 Mining Cost Average during life of mine,
15 11 Ore Selling Prices Average Product 1 Ore Prices
16 Average Product 2 Ore Prices
17 12 Royalty Rate "Of Revenue, based in latest regulation
(PP update)"
18 13 Dead Rent USD/ha
19 14 IUP / Concession Boundary Ha
20 15 Interest Rate Indonesian average tax rate for Bank loan
21 16 Corporate Tax Rate Based on the latest government of Indonesia's regulation
22 17 Discount Rate WACC – Weighted Average Cost of Capital
23 18 Sustainable Capex Per tahun terhadap pendapatan
24 19 Depreciation Straight line depreciation
25 20 Exchange Rate Based on Government of Indonesia's state budget update

buatkan tabel excel rumus untuk dimasukkan di sofware npvs datamine. untuk blok
model saya menggunakan format datamine, lalu parameter nya apa saya yang harus di
butuhkan
Kita akan membuat rumus Excel untuk menghitung parameter yang dibutuhkan untuk pit
optimasi di software NPVS Datamine. Berdasarkan data yang diberikan, kita perlu
menghitung nilai ekonomi dari setiap blok. Untuk itu, kita memerlukan beberapa
parameter seperti harga jual, biaya penambangan, biaya pengolahan, recovery, dan
lain-lain.

Dari data yang ada, kita memiliki dua produk: Produk 1 dan Produk 2. Kita juga
memiliki data tonase dan kadar Ni untuk setiap tipe ore.

Langkah-langkah yang akan dilakukan:

Menghitung pendapatan (revenue) dari setiap blok berdasarkan kadar Ni dan harga
jual.

Menghitung biaya yang terkait dengan penambangan dan pengolahan.

Menghitung nilai ekonomi (net value) dari setiap blok.

Namun, karena data yang diberikan terbatas, kita perlu membuat asumsi untuk
beberapa parameter yang tidak tersedia. Kita akan menggunakan data dari sheet
"VALUE" untuk melengkapi perhitungan.

Asumsi:

Kita akan menggunakan harga jual net Ni untuk setiap produk. Dari sheet
"DATA_BLENDING" baris 23-24, kita memiliki Net Ni Price untuk Produk 1 dan Produk
2.

Biaya penambangan (mining cost) kita ambil dari sheet "VALUE".

Biaya pengolahan (processing cost) tidak diberikan, sehingga kita perlu asumsi atau
data tambahan. Karena tidak ada, kita mungkin perlu mengabaikannya untuk sementara
atau menggunakan nilai default.

Namun, perhatikan bahwa dalam ekonomi model, kita perlu mempertimbangkan:

Revenue = (Kadar Ni * Recovery * Harga Jual) * Tonase

Processing Cost = (Biaya pengolahan per ton) * Tonase

Mining Cost = (Biaya penambangan per ton) * Tonase

Karena kita tidak memiliki data biaya pengolahan, kita bisa mengasumsikan bahwa
biaya pengolahan sudah termasuk dalam perhitungan harga jual? Atau kita perlu
mencarinya dari sumber lain.

Alternatif: Dalam sheet "DATA_BLENDING", kita sudah memiliki COG (Cut Off Grade)
untuk setiap tipe ore. COG ini dapat digunakan untuk menentukan batasan ekonomi.
Namun, untuk perhitungan nilai blok, kita perlu menghitung nilai ekonomi blok
tersebut.

Karena data yang tidak lengkap, kita akan membuat rumus dengan asumsi bahwa kita
memiliki data biaya penambangan dan biaya pengolahan. Kita akan letakkan asumsi
tersebut di sheet terpisah.

Proposed structure:

Kita akan buat sheet baru untuk parameter ekonomi. Misalnya sheet "PARAMETERS".
Di sheet "PARAMETERS", kita akan input:

Harga jual Ni untuk Produk 1 dan Produk 2 (dari sheet "DATA_BLENDING" baris 23-24,
kolom Net Ni Price).

Biaya penambangan per ton (dari sheet "VALUE" baris 14, namun tidak ada nilai
spesifik, jadi kita butuh asumsi).

Biaya pengolahan per ton (tidak ada, kita asumsikan).

Recovery penambangan (mining recovery) dari sheet "VALUE" baris 11-12.

Recovery pengolahan (processing recovery) tidak diberikan, kita asumsikan 100%

untuk sementara.

Karena data biaya tidak lengkap, kita mungkin hanya dapat menghitung pendapatan
kotor (gross revenue) dan belum bisa menghitung net value.

Namun, untuk pit optimasi, yang dibutuhkan adalah net value (pendapatan dikurangi
biaya). Jadi, tanpa data biaya, kita tidak bisa menghitung net value.

Saran: Lengkapi data biaya. Jika tidak ada, kita bisa menggunakan pendekatan lain,
yaitu menggunakan COG untuk mengklasifikasikan ore dan waste, dan kemudian
menggunakan harga jual dan recovery untuk menghitung pendapatan, lalu asumsikan
biaya tetap per ton untuk penambangan dan pengolahan.

Karena data biaya tidak disediakan, kita akan membuat asumsi untuk biaya
penambangan dan pengolahan.

Let's assume:

Mining cost = $2.5 per ton (asumsi, karena tidak ada data)

Processing cost = $5 per ton (asumsi)

Kita akan letakkan asumsi ini di sheet "PARAMETERS".

Sekarang, kita akan buat sheet perhitungan nilai blok. Tapi karena data blok model
tidak diberikan, kita akan buat rumus untuk menghitung nilai per tipe ore yang ada
di sheet "DATA_BLENDING".

Namun, perhatikan bahwa pit optimasi membutuhkan nilai per blok, bukan per tipe
ore. Jadi, sebenarnya kita perlu data blok model yang berisi kadar Ni dan tipe ore
untuk setiap blok.

Karena kita tidak memiliki data blok model, kita hanya bisa membuat rumus untuk
menghitung nilai untuk setiap tipe ore yang ada, yang kemudian bisa diassign ke
blok-blok yang sesuai.

Langkah perhitungan untuk satu blok (asumsi kita memiliki blok dengan kadar Ni dan
tipe ore):

Tentukan produk yang akan dihasilkan berdasarkan tipe ore dan kadar Ni.

Dari sheet "DATA_BLENDING", kita memiliki klasifikasi:

Ore Primer RKEF: SAP (HGS) dengan Ni ≥ 1.24

Ore Pem-Blending RKEF: SAP (MGS) dengan Ni 1.21-1.24 dan LIM (HGL) dengan Ni ≥ 1.32
HPAL Ore: LIM (MGL) dengan Ni 1.3-1.32

Waste: SAP (LGS) dengan Ni < 1.21 dan LIM (LGL) dengan Ni < 1.3

Untuk blok yang termasuk ore, hitung pendapatan dan biaya.

Hitung nilai ekonomi.

Rumus untuk nilai ekonomi (net value) per ton:

Net Value = (Ni Grade * Recovery * Net Ni Price) - Mining Cost - Processing Cost

Namun, recovery yang dimaksud di sini adalah recovery pengolahan? Atau recovery
penambangan? Perhatikan bahwa ada mining recovery dan processing recovery.

Dalam ekonomi model, biasanya:

Mining recovery mempengaruhi tonase yang sampai ke pabrik.

Processing recovery mempengaruhi jumlah produk yang dihasilkan dari ore yang
diproses.

Jadi, rumus yang lebih tepat:

Revenue = Ni Grade * Processing Recovery * Net Ni Price

Mining Cost = Mining Cost per ton * (1 / Mining Recovery) [karena mining recovery
mengurangi tonase yang bisa dijual, sehingga biaya penambangan per ton ore yang
diproses menjadi lebih tinggi]
Processing Cost = Processing Cost per ton

Tapi perhatikan bahwa dalam NPV Scheduler, mining recovery dan mining dilution
sudah diperhitungkan dalam perhitungan tonase dan grade.

Karena kompleksitas ini, dan karena data yang tidak lengkap, kita akan membuat
perhitungan sederhana:

Asumsi:

Kita mengabaikan mining recovery dan mining dilution untuk perhitungan nilai blok,
karena biasanya sudah diperhitungkan dalam tonase dan grade blok.

Jadi, untuk satu blok dengan tonase T dan kadar Ni, nilai ekonomi blok tersebut
adalah:

Net Value = T * [ (Ni Grade * Processing Recovery * Net Ni Price) - Processing Cost
- Mining Cost ]

Namun, perhatikan bahwa blok yang waste tidak diproses, sehingga hanya dikenai
biaya penambangan.

Untuk blok waste:

Net Value = - T * Mining Cost

Sekarang, kita perlu menentukan untuk setiap tipe ore, apakah ia ore atau waste,
dan produk mana yang digunakan.

Dari sheet "DATA_BLENDING", kita memiliki:

Tipe 1 dan 3: Ore untuk Produk 1 (RKEF)

Tipe 2 dan 4: Ore untuk Produk 2 (masing-masing untuk RKEF blending dan HPAL)

Tipe 5: Waste

Jadi, kita bisa assign:

Untuk tipe 1 dan 3: menggunakan Net Ni Price Produk 1

Untuk tipe 2 dan 4: menggunakan Net Ni Price Produk 2

Untuk tipe 5: waste

Namun, perhatikan bahwa tipe 2 dan 4 mungkin memiliki perbedaan recovery dan biaya
pengolahan? Karena tidak ada data, kita asumsikan sama.

Karena data recovery pengolahan tidak diberikan, kita asumsikan 100% untuk
sementara.

Juga, biaya pengolahan mungkin berbeda untuk setiap tipe ore? Karena tidak ada
data, kita asumsikan sama.

Jadi, kita akan menggunakan:

Processing Cost = $5 per ton untuk semua ore

Mining Cost = $2.5 per ton untuk semua material (ore dan waste)

Sekarang, kita buat tabel di sheet baru, misalnya "BLOCK_VALUES", yang menghitung
nilai per ton untuk setiap tipe ore.

Tabel di sheet "BLOCK_VALUES":

Kolom A: Ore Type

Kolom B: Material
Kolom C: COG
Kolom D: Tonase (ton) -> ini total, tidak per blok.
Kolom E: Ni Grade
Kolom F: Net Ni Price (kita assign berdasarkan tipe)
Kolom G: Processing Recovery (asumsi 100%)
Kolom H: Revenue per ton = (Ni Grade * Processing Recovery * Net Ni Price)
Kolom I: Processing Cost per ton (asumsi $5)
Kolom J: Mining Cost per ton (asumsi $2.5)
Kolom K: Net Value per ton = (Revenue per ton - Processing Cost per ton - Mining
Cost per ton) untuk ore, dan (- Mining Cost per ton) untuk waste.

Untuk waste, kita tidak memproses, sehingga tidak ada revenue dan processing cost.

Jadi, untuk tipe 5 (waste):

Net Value per ton = - Mining Cost per ton = - $2.5

Untuk ore:
Net Value per ton = (Ni Grade * 100% * Net Ni Price) - $5 - $2.5

Tapi perhatikan, Net Ni Price yang kita gunakan adalah yang dari sheet
"DATA_BLENDING" baris 23-24, kolom Net Ni Price.

Dari sheet "DATA_BLENDING":

Produk 1: Net Ni Price = 20.76 (baris 23, kolom L)

Produk 2: Net Ni Price = 1.63 (baris 24, kolom L)

Namun, perhatikan satuan: apakah dalam $/ton? Atau $/lb? Atau $/kg? Biasanya harga
Ni dalam $/lb. Tapi di sini tidak disebutkan.

Dari data, kadar Ni dalam %, jadi jika harga Ni dalam $/lb, maka kita perlu
konversi.

Asumsi: Harga Ni adalah $/lb, dan kadar Ni dalam % artinya per 100 kg ore
mengandung Ni sebanyak 1 kg? Jadi, kita perlu konversi.

Cara konversi:
1% Ni = 10 kg Ni per ton ore (karena 1 ton = 1000 kg, 1% dari 1000 kg = 10 kg).
1 kg = 2.20462 lb, jadi 10 kg = 22.0462 lb.

Jadi, revenue per ton ore = (Ni Grade (%) * 22.0462 * Net Ni Price ($/lb)) -
Processing Cost - Mining Cost

Tapi perhatikan di sheet "DATA_BLENDING", Net Ni Price untuk Produk 1 adalah 20.76
dan Produk 2 adalah 1.63. Apakah ini dalam $/ton? Atau $/lb? Karena nilainya
terlalu kecil untuk $/lb.

Jika harga Ni adalah $10 per lb, maka untuk 1% Ni, revenue per ton = 10 * 22.0462 =
$220.462. Tapi di sini Net Ni Price untuk Produk 1 adalah 20.76, yang jauh lebih
kecil. Jadi, kemungkinan Net Ni Price ini sudah dalam $/ton? Atau mungkin sudah
memperhitungkan recovery dan lain-lain?

Dari sheet "DATA_BLENDING", baris 23-24, ada kolom "Ni Product" dan "Gross Ni
Price" dan "Net Ni Price". Mungkin ini adalah harga per ton ore? Karena nilainya
sekitar 20.76 untuk Produk 1 dengan kadar 1.48% Ni. Jika dihitung, 1.48% * 22.0462
* harga Ni per lb, misalnya harga Ni $10/lb, maka revenue = 1.48 * 22.0462 * 10 =
$326.28, yang tidak sesuai dengan 20.76.

Jadi, kemungkinan besar Net Ni Price di sheet "DATA_BLENDING" adalah dalam $/ton
ore? Atau mungkin sudah setelah dikurangi biaya dan recovery?

Karena tidak ada penjelasan, kita asumsikan bahwa Net Ni Price yang diberikan
adalah harga jual per ton ore untuk kadar Ni tertentu? Tapi itu tidak masuk akal
karena harga seharusnya tergantung kadar.

Alternatif: Mungkin Net Ni Price adalah harga per 1% Ni per ton? Misalnya, untuk
Produk 1, Net Ni Price = 20.76 berarti untuk setiap 1% Ni, harganya 20.76 per ton?
Jadi untuk kadar 1.48%, revenue = 1.48 * 20.76 = $30.7248 per ton.

Tapi ini masih kecil dibandingkan dengan biaya penambangan dan pengolahan yang kita
asumsikan $7.5 per ton.

Karena data tidak jelas, kita akan gunakan pendekatan lain:

Dari data COG, kita bisa menghitung breakeven cost.

Untuk tipe 1, COG = 1.24. Artinya, pada kadar 1.24%, nilai ekonomi = 0.

Rumus breakeven:
0 = (1.24 * Recovery * Net Ni Price) - Processing Cost - Mining Cost
Jika kita asumsikan Recovery 100%, maka:
(1.24 * Net Ni Price) = Processing Cost + Mining Cost

Jika kita asumsikan Processing Cost + Mining Cost = $7.5, maka Net Ni Price = 7.5 /
1.24 = $6.05 per ton untuk setiap 1% Ni? Atau bagaimana?

Ini menjadi rumit.

Karena waktu terbatas, dan data tidak lengkap, kita akan membuat asumsi yang
sederhana:

Kita akan menggunakan Net Ni Price dari sheet "DATA_BLENDING" sebagai harga jual
per ton ore, terlepas dari kadarnya? Tapi itu tidak logis.

Atau, kita asumsikan bahwa Net Ni Price adalah harga per ton ore untuk kadar rata-
rata yang diberikan. Jadi, untuk Produk 1, kadar rata-rata 1.48% dan Net Ni Price
20.76, berarti harga per ton ore adalah 20.76. Begitu juga untuk Produk 2.