The geological characteristics of an ore body present both significant opportunities and considerable risks when it comes to economic extraction. Exploring these factors is essential for informed decision-making in the mining sector.
These key geological factors impacting ore extraction economics include:
- Shape and depth of the deposit: Ore body that are flat and near the Earth’s surface are the cheapest to mine. Overall ore bodies with sub-spherical shape are easier and cheaper to mine than a thin stockwork vein. However, in case an operation would lead to a higher ratio of waste rock to ore (stripping ratio), the ore body will generally be mined from an open pit than from an underground operation.
- Mineralogy and texture of the ore : Both have significant effect on the cost of mining, and ore processing. Sometimes the presence of deleterious elements in the ore will increase the processing cost, for instance, phosphorus in iron ores.
- Polymetallic ore deposits : The presence of co-products and/or by products affect the economics of the mining operation. Co-products are often defined as those additional metals which have a greater control on the economic feasibility of a mine, and by-products, stands for metals that are extracted from mined and milled ore or waste if the costs of metallurgical extraction are favourable, but which do not significantly affect the economics of the whole mining operation. (e.g. Sc, Te)(Chapter 9, n.d.).
- Another important factor in the economics of mining is the amount of overburden or waste rock that is required to be mined to access the ore bodies. The more the waste rock, the more finances are needed and vice-versa.
What other geological factors do you believe significantly impact the economics of ore extraction? Share your insights in the comments below!
Reference:
Chapter 9: Ore deposit geology. (n.d.). Retrieved April 9, 2025, from https://www.sgu.se/en/itp308/knowledge-platform/chapter-9-ore-deposit-geology/
