Economic Model: Quick Start

Cost Model is your application's preferred mode of operation. To use the Profit Model option you must have imported a block model with a block value field and designated it as [Product]. If you selected the Profit Model option all other economic parameters are irrelevant, so you can now click OK and proceed to run the Economic Model Generator.
Options: Ore types and in situ products (Cost Model only) are always included in the model. Recovered products are included separately if their recovery fraction is less than one. Including attributes (elements other than products) and waste types is optional. All elements are classified by ore type.
Prices: At least one product price must be positive and greater than the selling cost, otherwise the Economic Model will be useless. Some prices and all selling costs can be zero. [Revenue exceeds Rehabilitation Costs] is the most commonly used ore test; consult the Essentials guide for the meaning of the other tests.
Mining: [Mining cost per mass unit] is more commonly used. The “unit cost” is a reference cost subject to adjustments by MCAF and by bench. If you imported an MCAF field defining mining costs for blocks, or plan to set mining costs by rock type, leave the reference cost at '1'. For Mining Recovery and Mining Dilution see Essentials.
Rock Types: MCAF multipliers can be set for ore and waste types; other parameters apply to ore types only. You must define at least one processing method for each ore type.
- Managing processing methods: Add, rename, delete, and move up and down method labels in the Methods box. If, before adding a new method, you have selected an existing method (in the combo box located to the left), the parameters of the selected method will be copied to the new method.
- Editing method parameters: Select a method label from the Methods box and click Parameters to set the processing costs and recoveries. Note that minimum and maximum cutoffs can be defined only for ore tests other than [Revenue exceeds Rehabilitation Costs].
Adjustments: To setup mining costs adjustments by bench you must define at least the parameters for the [Default] destination that will be used for waste and for destinations for which the parameters have not been defined explicitly.

If an economic model run has been started, it can be stopped early using the <ESC> key.

	Related Topics
	Essentials Formulas Reports Charts Plot Views Import Quick Start Pit Optimization Quick Start Pushbacks Quick Start Scheduler Quick Start MAO Quick Start MFO Quick Start

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