Resource Assessment Economic Filter (RAEF)—A Graphical User Interface Supporting Implementation of Simple Engineering Mine Cost Analyses of Quantitative Mineral Resource Assessment Simulations

Techniques and Methods 7-C23
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Abstract

Economic evaluations of undiscovered mineral resources provide important context in which to consider the results of quantitative mineral resource assessments. The U.S. Geological Survey economic analysis method uses a simple engineering cost model approach developed by the U.S. Bureau of Mines that applies mine and mill engineering cost equations to simulated undiscovered deposits. The important characteristics of these deposits are derived from Monte Carlo simulations that combine probabilistic estimates of undiscovered deposits that might occur in a study area and a grade-tonnage model defined for a specific deposit type. This report describes the Resource Assessment Economic Filter (RAEF), a graphical user interface (GUI) tool that applies a set of mine cost equations to the deposits under consideration. RAEF, which is written in the open-source statistical programming language R, is an easy-to-use tool to apply user-defined mine, mill, and study area parameters to simulated deposits. For a given deposit type, it estimates the undiscovered resources that might be economic to extract. In addition, RAEF provides a series of graphical, tabular, and statistical summaries that document the results of the economic filter analysis.

Suggested Citation

Shapiro, J.L., and Robinson, G.R., Jr., 2019, Resource Assessment Economic Filter (RAEF)—A graphical user interface supporting implementation of simple engineering mine cost analyses of quantitative mineral resource assessment simulations: U.S. Geological Survey Techniques and Methods, book 7, chap. C23, 18 p., https://doi.org/10.3133/tm7C23.

ISSN: 2328-7055 (online)

Table of Contents

  • Abstract
  • Introduction
  • Background
  • Resource Assessment Economic Filter Summary
  • Input Parameters
  • Economic Filter Process
  • Resource Assessment Economic Filter Zip File
  • Installation Comments
  • Inputs to Resource Assessment Economic Filter
  • Graphical User Interface Option Versus Batch Run Option
  • Resource Assessment Economic Filter Startup Dialog
  • Economic Filter Results
  • Ore Grade and Ore Value Tonnage Graphs
  • Empirical Mode
  • References Cited

Additional publication details

Publication type Report
Publication Subtype USGS Numbered Series
Title Resource Assessment Economic Filter (RAEF)—A graphical user interface supporting implementation of simple engineering mine cost analyses of quantitative mineral resource assessment simulations
Series title Techniques and Methods
Series number 7-C23
DOI 10.3133/tm7C23
Year Published 2019
Language English
Publisher U.S. Geological Survey
Publisher location Reston, VA
Contributing office(s) Eastern Mineral and Environmental Resources Science Center
Description 18 p.
Online Only (Y/N) Y
Additional Online Files (Y/N) Y