REMAINING LIFE
12 May 2016 By PDSNETAn estimate of how long a mine will be able to extract gold (or other minerals) profitably, given the lease area and the expected grade. Clearly an assumption has to be made about the future mineral price in Rands. It can be roughly calculated by dividing the tonnage of mineable ore by the average annual rate at which it is extracted. As mining technology becomes more sophisticated and new, cheaper methods of mining are found, and the remaining life of mines can be extended.
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