Economic Settings: Prices

To access this screen:

Display the Economic Settings screen and select the Prices tab.

Set product prices for downstream optimization workflow tasks.

Activity steps:

Display the Prices tab.
The prices table is at the top of the screen and contains the following columns:
- Price – Product prices can be positive or zero; product prices can be entered as a value or defined as a formula; at least one product must have a price exceeding selling cost.
- Selling – Selling costs can be positive or zero. In parcel value evaluations selling costs are subtracted from the price.
- Currency – The currency used to evaluate the commodity. Read-only.
Define your own variables by clicking Set Custom.These are commonly used when setting pricing or other formula. Custom variables are defined using the Define Custom Variables screen.
Optionally, use a formula to define pricing (say, a raw commodity price multiplied by a cost adjustment factor):
- Set Formula – Define a formula for a product price; if you define a formula in the Price field formula displays instead of a value
- Delete Formula – Delete a formula in the Price field; when you delete a formula, the value for the product price replaces the word "formula".
Decide how ore (and conversely, waste) is identified and reported as such in the resulting economic model using Material will be defined as ore using the following cutoff test when options:
- The parcel revenue exceeds rehabilitation cost – A 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.
- The parcel rock type is specified as ore (regardless of grade) – In this situation, the parcel rock type will always be treated as ore, regardless of the grade.