Financial Modelling of Stockpiles in a Mining Project 

By Alex Portnoy

Tuesday 28th March 2023

For many mining projects, the open pit/cut mining process often begins months or even years before the processing plant starts operating. The build-up of a stockpile requires careful treatment to ensure the right grade of the ore milled is modelled and that the right value of this stockpile is reported on the balance sheets.
This webinar covers an approach to modelling stockpiles in mining projects, using a gold mine as an example. The methodology can be translated into any other commodity, and also many processing applications.
Learning points

  • Understand the steps required to calculate contained metal in the processed ore from the mining schedule
  • Discover how to create a transparent stockpile account
  • Discuss the timing impact between mining and processing, and how the contained metal flows in these stages
  • Analyse the Average Grade of the Stockpile, and discuss what potential compromises are required depending on required level of accuracy