Abstract
To support open-pit studies related to seafloor massive sulfides mining projects, an economic block-model is required. A modular framework is proposed to produce economic block models accommodating various levels of data. The framework is illustrated on a site of interest located on the Arctic Mid-Ocean Ridge. Random sampling based on literature datasets is performed to assign grades, porosity and grain density to the model. Other required parameters are produced using relationships found in the literature. Revenues are estimated using literature values within a net smelter return methodology. Mining costs are determined using the cost of a mining system and the estimated time required for excavating the ore. The excavating time is assessed through the specific energy for the ore and the mining machines. The specific energy is calculated with a hyperbaric rock-cutting model. An economic block value of each mining block is then provided. The mining block database resulting from the study constitutes a valuable input into further studies on resource development. The framework has also been used to support a sensitivity study. The availability of the marine assets has been found as having the greatest influence on the economic value of the study case.
Highlights
Since the 1960s, mining of deep-sea minerals has remained questionable [1]
Ten simulations have been performed as part of our study case
A methodology to develop an economic block model for Seafloor Massive Sulfides (SMS) deposits has been presented. The framework integrates both geotechnical and economical parameters of SMS deposits allowing for sensitivity studies and preliminary economic evaluation
Summary
Since the 1960s, mining of deep-sea minerals has remained questionable [1]. A major part of current activities is related to exploration rather than exploitation. The economic viability of deep-sea minerals depends on the in-situ value of the deposits and on the technological and cost challenges associated with the exploitation. Frameworks encompassing geological, geotechnical, technological and economic aspects are vital to support mineral resource and reserve assessments. Developing such frameworks is a challenging task due to scarce geological and geotechnical information. Nautilus Minerals is the only company worldwide who is committed to the commercial exploitation of Seafloor Massive Sulfides (SMS) deposits. No drilling data are available for Loki’s Castle, but for the context of this study, a simplified geological model has been setup using the TAG deposit geometry as an analogue. The Si-rich zone represents a hypothetical case of an economic
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