Influence of Sub-Grade Ores on the Cut-Off Grade and Ore Reserve of Itakpe Iron Ore Deposit, North-Central, Nigeria

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Influence of Sub-Grade Ores on the Cut-Off Grade and Ore Reserve of Itakpe Iron Ore Deposit, North-Central, Nigeria

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Abstract

Itakpe iron ore deposit is a multi-grade ore deposit with ore grades varying from 14.8%Fe to 41%Fe in the 25 ore layers. At the point of design of the mine, several low grade ores were deposited in temporary stockpile and a mineable ore reserve of 145mt was established. This paper examines the cut-off grade of Itakpe deposit in view of the current cost of mining, processing and waste removal. It further examines which of the low grade ores in temporary stockpile can now be included in the main ore reserve if the cost of their removal is considered as a credit towards the reduction of the cost of production. Analysis shows that the cut-off grade of Itakpe iron ore deposit without considering the ores currently in temporary stockpile is 26%Fe. It however lowers from 26%Fe to 23%Fe if the cost of production and value of some low grade ores are considered. The resultant effect is that ore reserve increases from 150mt for 26%Fe cut-off grade to 159mt for the cut-off grade of 23%Fe. Thus it becomes justifiable to send the additional 9 million tons whose grades vary from 26%Fe to 23%Fe to the mill especially considering the country’s need of iron ore concentrate for steel sector development.


Publication Info:

Author: Nwosu, J.I. and Benard, I.U.

Volume: 56

Issue: March

Published By: Journal of Mining and Geology, 2024-03-01

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