Optimization of geological study's degree for iron ore deposits at mining exploration

Abstract

Probabilistic nature of geological information is usually not taken into account in the geological and economic assessment of deposits to the full. This is main reason of non-confirmation of the quantity and quality of ore reserves. As a result, it can lead to non-compliance with extraction and production plans, expected quality and composition of minerals; it worsens economic indicators of mining enterprises and lead to economic losses. A theoretical analysis of economic losses of mining enterprises of Ukraine is carried out. It is reviewed losses which are realized as a result of errors in determining geological parameters of iron ore deposits. The optimal levels of geological information probability at the geological and economic estimation of balance reserve are determined. The principles of economically expedient degree of mining exploration for iron ore deposits are theoretically justified. The economically optimal level of geological parameters prec ision should be determined separately for each deposit (even within the same genetic type) and be based on the main patterns of error of geological parameters and dependencies operational losses on geological information probability. The economically optimal level of geological information probability varies for each deposit within fairly wide limits and depends primarily on the complexity of the geological structure of the ore deposits.