earth science

Mining feasibility study

Mining feasibility study is a earth science topic covered in the lgStudy science library. This page brings together a partial reference excerpt, illustrations, worked examples, real-world applications and a short study plan, so you can understand Mining feasibility study rather than just read about it. In short: A mining feasibility study is an evaluation of a proposed mining project to determine whether the mineral resource can be mined economically. There are three types of feasibility study used in mining, order of magnitude, preliminary feasibility and detailed feasibility.

Key takeaways

Mining feasibility study belongs to earth science; place it in that map before memorising details.
Learn the definition first, then one example that makes the definition concrete.
Connect Mining feasibility study to a quantity you can measure, compute or draw — that is where exam questions come from.
Reproduce the core statement of Mining feasibility study from memory before moving on to harder problems.

Reference excerpt

A mining feasibility study is an evaluation of a proposed mining project to determine whether the mineral resource can be mined economically. There are three types of feasibility study used in mining, order of magnitude, preliminary feasibility and detailed feasibility.

Order of magnitude Order of magnitude feasibility studies (sometimes referred to as "scoping studies") are an initial financial appraisal of an inferred mineral resource. Depending on the size of the project, an order of magnitude study may be carried out by a single individual. It will involve a preliminary mine plan, and is the basis for determining whether to proceed with an exploration program, and more detailed engineering work. Order-of-magnitude studies are developed by copying plans and factoring known costs from existing projects completed elsewhere and are accurate to within 40–50%.

Preliminary feasibility Preliminary feasibility studies or "pre-feasibility studies" are more detailed than order of magnitude studies. A preliminary feasibility study is used in due diligence work, determining whether to proceed with a detailed feasibility study and as a "reality check" to determine areas within the project that require more attention. Preliminary feasibility studies are done by factoring known unit costs and by estimating gross dimensions or quantities once conceptual or preliminary engineering and mine design has been completed. Preliminary feasibility studies are completed by a small group of multi-disciplined technical individuals and have an accuracy within 20-30%.

Detailed feasibility Detailed feasibility studies are the most detailed and will determine definitively whether to proceed with the project. A detailed feasibility study will be the basis for capital appropriation, and will provide the budget figures for the project. Detailed feasibility studies require a significant amount of formal engineering work, are accurate to within 10-15% and can cost between ½-1½% of the total estimated project cost.

Footnotes

Worked examples

Example 1 — a first encounter with Mining feasibility study

Start with the simplest possible case. Write down what Mining feasibility study claims or describes in one sentence, then invent the smallest concrete situation in which that sentence is true. In earth science, the smallest case is usually a single object, a single equation or a single measurement. Check that every symbol or term in your sentence has a meaning in that case.

Example 2 — changing one variable

Take the situation from Example 1 and change exactly one quantity: double it, halve it, or set it to zero. Predict what should happen to Mining feasibility study before you calculate. Comparing your prediction with the result is the fastest way to find out whether you understand the idea or only the words.

Example 3 — an exam-style question

Typical questions about Mining feasibility study ask you to (a) state it precisely, (b) apply it to given data, and (c) explain a limitation. Practise writing all three answers in under five minutes; the third part is what separates a full-mark answer from an average one.

Applications of Mining feasibility study

In research: Mining feasibility study appears in earth science research whenever the underlying quantities have to be modelled precisely. Papers usually cite it as a starting assumption and then explore where it breaks down.
In technology and industry: Engineering practice reuses Mining feasibility study in design rules, simulations and safety margins. Knowing the idea lets you read a specification sheet and understand why the numbers look the way they do.
In the classroom: Mining feasibility study is common in secondary-school and first-year university syllabi. It links to neighbouring topics Mineral economics, Mining engineering, so understanding it makes those chapters shorter.
In everyday life: Look for Mining feasibility study outside the textbook — in sport, cooking, traffic, electronics or the sky above you. An example you found yourself is remembered far longer than one you were given.

Affiliate

Preply — study more efficiently by working with a personal tutor. 50% off.

How to study Mining feasibility study in 20 minutes

Read the reference excerpt below once, without taking notes.
Close the page and write down what Mining feasibility study means in your own words.
Compare your version with the excerpt and mark what you missed.
Work through the three examples above with pen and paper.
Explain Mining feasibility study out loud to somebody else — or to Teacher Smith in the lgStudy chat.

Frequently asked questions

What is Mining feasibility study in simple terms?

Why does Mining feasibility study matter?

Because it connects several earth science ideas at once: it gives you a definition you can apply, a quantity you can calculate, and a way to check whether a result is plausible.

How should I study Mining feasibility study?

Read the excerpt, restate it from memory, then work through the examples and applications listed on this page. The five-step study plan above takes about twenty minutes.

What does this page cover?

It gives you a compact reference excerpt plus original lgStudy explanations, examples, applications and study material on Mining feasibility study.