KIGAM has developed technology to improve the mining efficiency of non-metallic mines. This technology was implemented in order of assessment of operational problems, suggestion of alternatives, mine planning with optimal operating conditions, and economic evaluation for non-metallic mines. The new plan increased the ore reserve 226% compared to the existing mining plan, and reduced mining cost by more than 26.5%. The new plan also increased the net present value (assuming a 10% discount rate) by 204% compared to the existing plan, and increased the IRR (internal rate of return) by 17.2% from 26.9 to 44.1%. This is more than the initial target of 10 percent reduction in mining cost.
Contact: Dong-Kil Lee (ldk@kigam.re.kr)
