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    134 Open pit mine planning and design Fundamentals i- “| i i- wi * 0 = "Fons ied ly (1000) Figure 2.12. Mine/mill project eaptal costs a function of milling ate (O'Hara, 1980). 2.4.5 The updated O'Hara cost estimator Introduction Included in the 2nd edition of the SME Mining Engineers Handbook (Hartman, 1992), is an updated chapter on ‘Costs & Cost Estimation’, prepared by O'Hara and Suboleski (1992). They cover the costs associated with both open pit and underground mining. This section presents material extracted from their paper. The presentation, however, is organized somewhat differently from theirs. All of the costs are expressed in U.S, dollars appropriate forthe third quarter of 1988. Pits may vary greatly in shape, size, and pit slope, especially in mountainous areas or where the ore and/or waste rock varies greatly in competence. The typical open pit mine in North America produces about 43,000 tpd (39 kv/day) of ore and waste from a pit depth ‘of about 400 to 500ft (120 to 150m), with an oval shaped periphery 2200 ft (670 m) wide and 4700 t (1430 m) long. Pit benches are typically 40 ft (12m) high, and overall pit slope (excluding roads) is about 57° in pits with competent rock, and 44” in pits with oxidized or altered rock, with in-pit haulage road gradients averaging 9%, ‘The formulas given for equipment sizing, preproduction stripping, and maintenance facilitica presume that the shape and type of open pit is similar, except in daily tonnage, to the ‘typical’ open pit Daily tonnage the most important factor affecting costs is the size of the mine, primary crusher, and processing plant as expressed in terms of the tons of material handled per day of operation. ‘To simplify the discussion the following terms will be introduced: T =tons of ore milled/day T, =tons of ore minediday T= tons of waste mined/day , = tons of ore passing the primary crusher/day Ty=To + Te = total material minedlday Mining revenues and costs 135 In this estimator it is assumed that the mill operates three 8-hour shifts per day and 7 days/week irregardless ofthe shifts worked by the open pit. Many open pit mines oper- ate 7 days/week, but others may operate only 5. In the case of a 5 day/week mining operation, 31, =0717, 246) ‘The cost guides in this section are based upon this assumption thatthe mill capacity is 71% of the daily mined ore tonnage, ‘The crushing plant may operate 5, 6, or 7 days/week, depending on the mine schedule and whether or not there is adequate fine ore storage capacity to keep the mill supplied with fre when the crusher is shut down for repairs or regular maintenance. It is assumed that the crushing plant has the same daily capacity as the mine, but will ‘work 6 days/week to ensure that the mill will be supplied with crushed ore if the fine ore bins have insufficient capacity to keep the mill supplied with ore dusing the wo-day sine shutdown, Personnel nunbers Tt may seem somewhat unusual to begin the cost discussion with personnel, but their pro- ductivity is extremely important tothe profitability of an operation and their compensation isa major cost item. ‘The number of mine personne! Nop required in open pit mines using shovels and trucks for loading and hauling the ore may be estimated from the following formulas: 0.034798 for hard rock “”— | 0.02479" for competent soft rock am ‘The number personne! Nyy tequited to operate mills treating T tons of low-grade ore may be estimated from the following formulas: 5.90T®? for cyanidation of precious metal ores 5.707"? for flotation of low-grade base metal ores (2.48) 7.20T° for gravity concentration of iron ores. Nin ‘The mill crew size (which includes those involved in crushing and/or grinding as well as beneficiation) as a function of process type and mill rate is shown in Figure 2.13. ‘The numberof service personnel N,, required for open pits mining low grade ore may be estimated as a percentage ofthe total mine and mill personnel as shown below: Nyy = 25:44 of (Nop + Nut) 249) ‘The number of administrative and technical personnel Na requited for a mining and milling plant may be estimated as a percentage ofthe total required for mining, milling, and services: Nog = 11% Of (Nop + Net + Nos) 2.50) It should be noted that the formulas do not include the personnel required for smelters, refineries, mine townsite services, concentrate transport, or offsite head offices, since these services may not be required for many mine projects. Whenever these services can be 136 Open pit mine planning and design: Fundamentals 200 109) Size of mill crow "000 2000 4000 6000 8000 ——*10,000 “Tons per day milled Figure 2.13, Mill erew size versus mill process and size (O'Hara & Suboleski, 1992). financially justified for the mine project circumstances, the additional personnel should be ‘estimated separately, Mine associated capital costs Mine ste clearing. Prior. beginning construction, the mine/mill site must be first cleared of tees, plants and topsoil. The soil overburden should be stripped to the limits of the ultimate pit and stockpiled. The average soil thickness can be found from drilling Jogs or ultrasonic techniques. By multiplying the average thickness times the pit area, the volume is determined. As an aid to tonnage calculations, an acre of moist soil averaging 10ft in thickness contains sbout 23,000 tons of material. Forth pit, the required area Ay in ares is 4 1p = 0.017389 @sn ‘The clearing costs depend upon the topography, the type of cover, and the total area, They are expressed as 1600429 for 20% slopes with light tre growth ‘Total clearing cost = | $300429 for flat land with shrubs and no wees (2.52) '$200042° for 30% slopes with heavy trees Clearing, initial stripping and access road costs are plotted as a function of T, in Figure 2.14, Mining revenues and costs 137 Costs in dears (riions) 50,000 100,000 ‘Tons of ore and waste mined per day Figure 2.14, Clearing, stripping and road costs for open pit mines (0"Hara & Suboleski 1992). Pre-production waste stripping. The rock overburden above the ore must be stripped to expose a sufficient amount of ore to supply the planned daily ore tonnage fora period of four to six months. I insufficient ore has been exposed by the pre-production stapping ot ‘waste it may become difficult to continue ore mining due tothe close proximity of waste benches where blasting, loading, and haulage of waste is taking place. The location and required area ofthe ore exposure is determined from ore body mapping, Once this has been done, the average thickness and area of the waste rock overlying this core can be compated. Each acre of waste rock averaging 10ft in thickness contains about 40,000 tons of waste Beceuse ofthe inverted conical shape of the ultimate open pit, the waste/ore tonnage ratio at each horizontal bench decreases with each lower bench. Typically, the uppermost ore bench to be exposed has a wastelore ratio of at least twice the wasteore rato of the ultimate pit. IF7, is the tons of soil, and 7, is the tons of waste rock that must be stripped to expose an amount of ore to sustain four to six months ore production, then the estimated costs of waste stripping will be Soil stripping costs = $3,207 for soil not more than 20 deep (2.538) ‘Waste stripping costs = $34079° for rock requiring blasting, Joading, and haulage (2.530) Mine equipment (a) Drill. The size, hole diameter, and number of drills required depends on the tons of ore ‘and waste to be drilled off daily, 138 Open pit mine planning and design Fundamentals ‘Typically, drill hole sizes have standard diameters of 4, 5, (14), 717A), 9, 97h). 105A). 12(4.), 136A). 15, and 1704) inches (or 102, 125, 165, 200, 229, 250, 270, 310, 350, 380, and 445 mm). Thus drill selection wil be limited to one ofthese sizes. ‘The tons of ore or waste that are drilled off per day by a drill with a hole diameter of d inches is: tons of medium drillable rock = 170d tons of easly drillable rock = 230d? 2.54) tons of hard drillable rock = 100d For the rock defined as ‘medium’ drllable, the expected production rate is about SOO ft per shift, ‘The number of drills Ng should never be less than wo, For tonnages up to 25,000¢pd, ‘wo drills of appropriate hole diameter should be chosen. Three drills should be adequate for up to 60,000 tpd and four or more drills will be required for daily tonnages over 60,000. ‘The cost ofthe drilling equipment is given by: Drilling equipment costs = Ny x $20,000d"* 255) This formula includes a 25% allowance for drilling and blasting supplies and accessory ‘equipment. (©) Shovels. The optimum shovel size S expressed in cubic yards of nominal dipper capacity in relation to daily tonnage of ore and waste T, to be loaded daily $= o.asro* 2.56) ‘The number of shovels N, with dipper size $ that will be required to load a total of T, tons of ue annd waste daily will be 57) In practice, the size of shovel chosen will be one with a standard dipper size close tothe size calculated by Equation (2.56). The calculated number of shovels Ny usually is not a whole ‘umber. It should be rounded dawn. The omitted fractional number expresses the need for either a smaller-sized shovel or a front-end loader for supplemental loading service. This smaller shovel or front end loader must, of course, be capable of loading trucks of a size appropriate to the shovels with dipper size S. ‘The total costs of the fleet of shovels supplemented by auxiliary bulldozers and front end loaders will be ‘Loading equipment cost = N, x $510,000S°* (2.58) (©) Trucks. The optimum truck size ¢ in tons that is well matched with shovels of bucket size S (cubic yards) is ‘Truck size f (tons) = 9.05"! (2.59) ‘The total number of trucks N, oft tons capacity required for the open pit truck flet, plus an allowance for trucks under repair, is approximated by the following formula: 78 Ny (Sumber of trucks required) = 0.25——— (2.60) Mining revenues and costs 139 Costs in doers (lions) 50,000 700,000 “Tons of ote and waste mined per day Figure 2.15. Costs for open pit equipment (O'Hara de Suboleski, 1992), ‘The formula for N, determines the size of the truck fleet under the typical conditions where the average haulage distance and gradient outside the pit periphery is less than the haulage distance and gradient inside the pit periphery. Ifthe waste dump and the ore dump by the primary crusher are well removed from the pit boundaries, or if the haulage road beyond the pt has a steep gradient, it may be necessary to increase the truck fleet size to allow for the longer trip time per load, The cost of haulage equipment including the accessory road maintenance equipment is sven by: Haulage equipment cost = N; x $20,0001°° 61) ‘The capital costs forthe production fleet are given in Figure 2.15, Pit services (@) Maintenance facilities. The size of maintenance facilities for repair and maintenance of open pit equipment depends primarily on the nusnber and size of dhe ine haulage ‘trucks, which in tum depends on the daily tonnage of ore and waste to be hauled. Repair and ‘maintenance ofthe shovels and drills is normally performed on ste by mobile repait vehicles. ‘The area in square feet required by the open pit maintenance shop (which should be located close to the open pit) is as follows: ‘Area of open pit repair shot = 36079* 2.0) ‘Thus the areas of repair shops required for open pit mines axe: ‘Mine size, tpd 10,000 20,000 40,000 80,000 Repair shop area, f? 14,300 18,900 25,000 33,000 140 Open pit mine planning and design: Fundamentals 50,000 100,000 Tons of ore and waste mined per day Figure 2.16. Cost for ope ptseevces (O'Hara & Subolesk, 1992). ‘The cost of constructing and equipping the shop is expressed by Cost of pit maintenance facilities = $6000.41? ! (2.63) (b) Communication and electrical distribution. This cost includes the installed costs for a surface telephone system with mobile and base radio units and one or more repeaters depending on the size of the mine. The electrical distribution includes the installed costs of primary substations, transmission lines, portable skid-mount transformers, and trailing cables, all of which depend on the size of the open pit mine as measured by the daily tons T, of ore and waste mined. Cost of communications/electrical = $250 727 2.64) () Fueling system. This cost includes the storage and services for diesel fuel, gasoline, lubricants, and coolants for the truck haulage fleet and mobile service vehicles Cost of refcling system = $2897 2.65) “The open pit services costs are shown in Figure 2.16. Mill associated capital costs ‘Mill site clearing and foundation preparation costs. ‘The area A, (in acres) tobe cleared for the concentrator building, crusher building, substation, warehouse, and ancillary buildings is given by Ac = 0.05795 (2.6) In addition to this clearing, roads must be constructed from the nearest existing suitable road, to provide access to the concentrator site, the hoisting plant, the proposed tailings basin, Mining revenues and costs 141 and the source of the water supply. Costs for clearing and access roads forthe surface plant are estimated to be: Clearing costs = $2000.42 for lightly treed area with slopes of noi) not more than 20% gradient (2.678) Access roads = $280,000 per mile for 30-ft (9-m) wide graveled road in mildly billy region “The formulas shouldbe modified :30% for more adverse or more favorable slope and tree ‘growth conditions Soil overburden must be stripped wherever buildings and facilities are to be sited, The cost of stripping soil overburden D, fest deep over and area of A acres willbe: Cost of soil stripping = $10004°*D, (2.68) After the soil overburden is removed and the underlying rock or hasal strata i expased, this rock or strata will require localized removal, probably by drilling and blasting, to establish sound foundation conditions over levelled areas forthe plant buildings and plant equipment. If there are C, cubic yards of rock requiring drilling, blasting, and haulage to a dump site, this mass excavation will cost: ‘Cost of mass excavation = $200 C9” (2.69) for excavations of up to 100,000 ye? Ifthe mass excavation isin rock that can be broken by ripping, the cost will be only 20% of that indicated, When the mass excavation has been completed, detailed excavation to tailor the rock surface to the exact levels for pouring concrete foundations can be done. At the same time, suitable fill will be placed and compacted over level areas where deep trenches of soft soil hhave been removed. Ifthere are Cy cubic yards of rock tobe excavated by detailed excavation and F cubic yards of compacted fill to be placed, the cost will be: Excavated and fil compaction = $850 C36 + $75 Fa? 270) Concrete costs for the foundations of the concentrator building, fine ore bins, and concen- trator equipment probably will cost between $350 and $900/yd>, depending on whether the concrete pour is fora simple form with litle reinforcing steel or for a complex form that is heavily reinforced. The concrete cost may be significantly higher per cubic yard if concrete is scheduled to be poured in winter months when the temperature is below 40°F (44°C) and heating of agoregate and water and heating of concrete forms is required for sound concrete. It is difficult to estimate the shape and volume of concrete forms before these forms have been designed, and hence concrete costs related to concrete volume are unreliable for preliminary estimation. Assuming no difficulties Approximate concrete foundation costs = $30,000 7° en ‘These different costs are shown in Figure 2.17 as a function of daily plan capacity. Concentrator building. ‘The costs of the concentrator building include all costs of construct- ing the building above the concrete foundations and enclosing the building, plus the cost of internal offices, laboratories, and changerooms. It does not include the cost of process 142 Open pit mine planning and design: Fundamentals Costs ind aon of sai caring plantste excavator pol 10 deep & rock 5 0980) 5000) 0,000 Plant capaciy in tons of oe per day Figure 217. Costs for surface plan clearing, excavation and foundations (O'Hara & Subolesi, 1992), equipment, piping, or electrical wiring, because these items are included in the costs of each functional area. The equipment in operating concentrators generates a substantial amount of eat and comfortable working conditions can be attained with litle or no insulation, az Tong asthe concentrator is located in a region with a mild climate. For flotation mills located in a mild climate Cos of building = $27,0007° an ‘A ‘mild climate’ is defined as a region where the degree-days are about 7000 (in °F) or 4000 (in °C) per year. Weather stations usually record the 'degree-days’ (°F x D, or °C x D), which represents the average number of days times the degrees that the temperature is below 65°F or 18°C. In hot climates, where freezing temperatures are not experienced, the building costs may be reduced by only partially enclosing the building and by locating thickeners and other hydrometallurgical equipment outside the building. In cold climates, the additional cost of insulation, heating, and snow loading is likely to increase the build- ing cost by about 10% for each increase of 1800 (°F x D) above 7000 or 1000 (°C x D) above 4000. Primary crushing plant with gyratory crusher. Open pit mines generally place the primary crusher on the surface outside the pit, within convenient conveying distance to the coarse cr stockpile and the fine ore crushing plant. Open pit trucks normally dump the ore onto a grizzly mounted over the gyratory crusher which discharges crushed ore to a conveyor. Because of the headroom required to operate and discharge the crushed ore from a gyratory crusher, a substantial excavation and volume of concrete is required for the primary crusher Mining revenues and costs 143 Costs in dolar (milions) 5000) 10,000 Plant capacity in tons of oe per day 2.18. Coss forthe concentrator building and ereshing plant (O'Hara & Subolesk, 1992). plant. The cost of the primary crusher depends on the size and capacity of the gyratory crusher selected for crushing 7. tons of ore daily: Cost of gyratory crusher = $63 72° 273) ‘The cost of excavating and concreting the foundations forthe primary crusher, installing the crusher, construction of the truck dump and grizzly, plus the coarse ore conveyor and feeder under the crusher is: Cost of primary crushing plant = $15,00079? 274) ‘The cost of the crusher itself is not included. Fine ore crushing and conveyors. This cost includes the crushing plant building, installed equipment and conveyors. Cost of fine ore crushing plant = $18,000 7°7 2.75) Note: The cost may be 12% higher if the conveyors must be enclosed and heated, Grinding sectionand fine ore storage. ‘The fine storage bins must have suficien livecapacity to provide mill feed for at least the numberof days that the crushing plant is idle per week. ‘The cost ofthe fine ore bins will be proportional tothe weight of steel used in constructing these bins, andthe weight of stel will be proportional to T°", “The size and cost of the grinding mills depend on the tons of ore to be ground daly by cach mill, but they also depend on the hardness of the ore as measured by the work index 144 Open pit mine planning and design Fundamentals 10 Plant capacty in tons of ore por day Figure 2.19, Cost forthe grinding section, storage bins and tlings storage (O'Hara & Subolesi, 1992) and the fineness of grind thats required to attain the desired concentration and recovery of valuable minerals, $18,707" for medium herd ore with a work index of 1, ground {0 70% passing 200 mesh $12,500 7°? for soft ores ground t0 55% passing 200 mesh 276) $22,500 7°” for hard ores with a ‘work index of higher than 17, ground 10 85% passing 200 mesh ‘These costs are plotted in Figure 2.19 as a function of plant capacity. Cost of grinding and bins = Processing and related sections. The capital costs in this section cover the purchase and installation of all equipment required to concentrate or extract valuable minerals from the slurried ground ore, and process the concentrates or extracted minerals into dried solids or impure metals that are directly salable as dry concentrates, ingots of precious metals, uranium yellowcake, or impure metallic gravity concentrates of alloy metals. These capital costs include equipment and tanks for thickening, filtering, precipitation, leaching, solvent extraction, etc., plus all process piping, electrical wiring, and process control Process costs for different types of ore by different methods are listed below: 1. High-grade gold ores leached by cyanidation, followed by zinc dust precipitation of gold by Merrill Crowe process, filtering, drying, and gold refining: Process capital costs = $60,200 7° 7 Mining resenues and costs 145 2. Low-grade ores, cyanide leaching, CIP (carbon-in-pulp) or CIL (carbon-in-leach) adsorption, refining: Process capital cost 347,300 7°5 2.78) 3. High-grade gold ores with base metal sulfides; cyanide leaching, secondary flotation, carbon adsorption by CIP or CIL process, filtering, thickening, drying, and refining: Process capital costs = $103,2007°5 279) 4, Simple low-grade base metal ores of copper with minor content of gold, which can be recovered as smelter credits. Flotation, thickening, filtering, and drying of auriferous copper ‘concentrates: Process capital costs = $13,700 7° (2.80) 5. Pyritic gold/silver ores where the precious metals are locked in the pyritic minerals. Differential flotation, selective roasting, recovery of deleterious materials, cyanidation, thickening, precipitation, filtering, and refining. Process capital costs = $180,000 7° 281) 6. High-grade Cu/Pb ores, Cu/Zn ores, Pb/Zn ores, CuNi ores. Recovery by differential flotation, thickening, filtering, and drying of separate concentrates Process capital costs = $20,6007°° (2.82) 7. Complex base metal ores containing atleast three valuable metals, with recoverable minor amounts of precious metals: Cu/Zn/Ph ores, Pb/Zn/Ag ores, CuPhIAg ores, Ca/Zn/An ores. Recovery by differential flotation, separate thickening, filtering, and drying of several concentrates and/or bulk concentrates Process capital costs = $30,100 7°* (2.83) 8. Non-sulfide ores containing specialty metals such as columbium (niobium), tantalum, tungsten, and tin in minerals that do not respond to flotation, and which are separated by specialized gravity concentration methods: Process capital costs = $5000 7"? to $13,0007°7 2.84 9. Uranium ores: acid leaching, countercurrent decantation, clarification, solventextraction and yelloweake precipitation: Process capital costs = $150,000 to $200,0007°5 2.85) Figure 2.20 is a plot of these relationships. Initial sailings storage. "There are many aspects of tailings storage such as topography, dis- tance from mil to tilings ste, localized environmental concems, etc, that could drastically alter the costs of tailings storage. If, however, all adverse aspects are absent, and a suitable tailings site is available within two miles of the mill, and the nature of the tailings does not have adverse environmental effects, the minimum cost of tailings storage may be: Minimum tailings storage cost = $20,000 7° (2.86) 146 Open pit mine planning and design Fundamentals Costs in dots (rilions) 5000 10,000 “Tons of ore processed dally Figure 2.20. Processing section costs (O"Hara & Subolest, 1992). ‘Very few mines have such favorable conditions, and ifthe area topography is steep or the cavironmental constraints are stringent, the tailings storage costs could be several times as high as the foregoing cost guide. General plant capital cost Water supply system. ‘The cost of fresh water pumping plants, reclaim water plants, and provision for fire protection water supply, plus potable water supply, varies according the local topography and the proximity and nature of nearby sources of year-round supplies of water, If there isa suitable source of water within two miles of the mill, and the intervening topography is moderately level, the water supply system would cost: Cost of water supply system = $14,0007°* asn ‘The cost of the water supply system for the mine, mil, and plant (but excluding the mine ‘water distribution system) will be much higher if the local topography is steep and rugged of if there are severe constants on sources of frestt water Electrical substation and surface electrical distribution. The capital cost of electrical facilities for a mining/milling plant depends primarily on the size of the electrical peak Toad in ilowats. ‘The peak loed (PL) expressed in kilowatts per month and the average daily power consumption in kilowatt hours can be estimated from the following formulas Peak load (PL) = 787° for open pit mines milling T tons of ore daily (2.88) Power Consumed = 140077 for open pt mines with shovel and truck haulage to concentrator 289) Mining re enwes and costs. 147 ‘Typically, the concentrator and related facilities account for about 85% of the total power ‘consumption for open pit mines and concentrators. ‘The cost of power supply depends on whether the power is generated by an existing electri utility or by a mine diesel-electric plant. Small mines in remote areas may be forced to generate their own electric power, because the cost of a lengthy transmission line from an existing utility may be too high due to the low peak load and low electric power consumption ofa small mine, Ifthe mine is supplied with utility power, the cost of a utility substation with step-down transformers will be Cost of substation = $580(PL)™* (2.90) ‘The cost of installing low-voltage power distribution to the surface concentrator, crushing. plant, and surface facilites, but excluding the distribution to the surface open pit is likely tobe Cost of surface power distribution = $1150(PL)"* 9) A diesel-electric generating plant may be required for a small mine in a remote area or by a larger mine supplied with utility power that may require a standby electric power plant for protection of vital equipment. Cost of diesel-electric plant = $6000(PL)"* 2.92) General plant services. ‘These costs include the costs of constructing, furnishing, and equip- ping the general administrative office, general warehouse, electrical and mechanical repair shop (for smaller mill equipment and services equipment), Vehicle garages, changehouses, first aid and mine rescue stations, security stations plus general purpose vehicles, parking lots, and yard fencing. ‘The size of the buildings tends to depend on the number of employees served by each building. Itis necessary to estimate the building size in square feet before estimating building cost, which will vary with the area of each type of building. (a) Administrative office. The floor space per person tends to increase as the number of ‘administrative and technical staff N, becomes larger. Ths reflects the more complex records ‘of accounting and technical staff and the consequent requirement of more space for computer facilites, mining plans, and reference file facilities. A= Office are required in @ = 351? Cost of office = $1554°° (2.93) (b) Maintenance shop. Maintenance personnel Nyy will require about 85 t?/person for ‘maintenance and repair of movable equipment from the mill and service departments. Cost of shop = $102(85 Ns)? 2.94) (©) Mine changehouse. The mine changehouse requires about 24 (/person on the mine payroll and includes the first aid station and mine rescue facilities. Changehouse cost = $125(24 Nop)" (2.95) 148 Open pit mine planning and design Fundamentals 5000 10,000 Plant capacity in tons of ore por day Figure 221, Costs of plant service faites (O'Hara & Subolesti, 1992) (@) Surface warehouse. This should accommodate all supplies and spare parts for the mine, rill, and service facilities that must be kept indoors. Bulky supplies such as rough lumber, structural steel, etc.,can be stored outdoors in most climates. Surface warchouse cost = $5,750 7° 2.96) (©) Miscellaneous surface facilities. This includes general purpose vehicles and garages, security stations and fencing, parking lots, and miscellaneous services. Miscellaneous surface facilities = $10,0007°5 (297) ‘Those general plant capital costs dependent on plant capacity are shown in Figure 2.21. Mine project overhead costs In addition to the direct costs for specific facilites fora mine project, which may total many nillions of dollars, there are substantial costs and expenses involved in project design, general site costs, supervision and administration, and provision of working capital. These. overhead costs may be estimated as a function ofthe total direct costs D in dollars. Engineering. This includes the costs of feasibility studies, environmental impact studies, design engineering, equipment specifications and procurement, and specialized consulting services: Engineering costs = $2.30 D°* 298) General site costs. This includes constrction camp costs, specialized construction equipment, and general consriction site costs General site costs = $0,310"? 2.99) Mining revenues and costs 149 Project supervision. This includes project supervision, scheduling and budgeting, and construction management: Project supervision costs = $1.80 D°* (2.100) ‘Administration. This includes local office administration by corporate owner's represen tatives, accounting and payment of general contractor, legal costs, plus preproduction employment of key operating staf: Administration costs = $1.50 D°* 10, Project overhead costs as a percentage of direct project costs tend to vary depending on the size and complexity of the project. The lower percentages of 4 to 6% would be typical for {$100 million projects and conventional technology, whereas the higher percentages of 8 t0 11% would apply to smaller $10 million project that are technically novel or complex. Working captial. The allowance for working capital for a mining project should be sulficient to cover all operating costs plus purchase of the initial inventory of capital spares and parts until revenue is received from smelters or purchasers of metallic products. The time period clapsing before receipt of revenue sufficient to pay imminent operating costs will vary

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