Authors / CoAuthors
Haynes, M.W. | Walsh, S.D.C. | Czarnota, K. | Northey, S.A. | Yellishetty, M.
Abstract
Mineral exploration ideally involves researching geological potential within the constraints of economic feasibility. Nevertheless, explicit consideration of economic factors is often delayed until late in the exploration cycle. This is not ideal. Like mineral prospectivity, projected economic feasibility can be used to refine the search space and thereby reduce the risks associated with mineral exploration undercover. Here, we outline an exploration strategy based on the notion of identifying economic fairways—that is, regions permissive to resource development from an economic perspective. The approach appraises the economics of Au, Cu, Ni, Pb, Zn, potash and phosphate deposits by modelling revenue against capital expenditure (such as the costs of employment, mining overburden and access to infrastructure). We demonstrate the economic fairways approach through regional assessment of a Tennant Creek–style iron oxide–copper–gold deposit across northern Australia. Our results indicate that such a mineral deposit is expected to be economically viable across much of northern Australia, including in areas with several hundreds of metres of overburden. Our analysis sheds light on the need for accurate cover thickness models, without which undercover economic fairways cannot be defined. Our online tool benefits mineral explorers, and also helps to inform investors about the relative strengths of potential mineral projects; policy makers could use it to plan regional infrastructure development in frontier mineral provinces. <b>Citation:</b> Haynes, M.W., Walsh, S.D.C., Czarnota, K., Northey, S.A. and Yellishetty, M., 2020. Economic fairways assessments across northern Australia. In: Czarnota, K., Roach, I., Abbott, S., Haynes, M., Kositcin, N., Ray, A. and Slatter, E. (eds.) Exploring for the Future: Extended Abstracts, Geoscience Australia, Canberra, 1–4.
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document
eCat Id
133681
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Cnr Jerrabomberra Ave and Hindmarsh Dr GPO Box 378
Canberra
ACT
2601
Australia
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- theme.ANZRC Fields of Research.rdf
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- EARTH SCIENCES
- ( Project )
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- Exploring for the Future
- ( Theme )
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- Economics
- ( Theme )
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- Mining
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- Mineral Systems
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- Northern Australia
- ( Project )
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- EFTF
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- IOCG
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- Published_External
Publication Date
2020-06-15T01:04:33
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completed
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EFTF Extended Abstract
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asNeeded
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geoscientificInformation
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Using the Bluecap software library, we model the economic feasibility of iron oxide copper gold mineral deposits across northern Australia. These models incorporate publically available estimates of cover thickness, transportation infrastructure and utilities, together with calibrated mining development cost-models to appraise the life-span economics of mineral development throughout the region.
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[-28.00, -10.00, 112.00, 154.00]
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