One method for developing a mine containing an estimated 100,000 tons of ore will result in the

Question:

One method for developing a mine containing an estimated 100,000 tons of ore will result in the recovery of 62% of the available ore deposit and will cost $23 per ton of material removed. A second method of development will recover only 50% of the ore deposit, but it will cost only $15 per ton of material removed. Subsequent processing of the removed ore recovers 300 pounds of metal from each ton of processed ore and costs $40 per ton of ore processed. The recovered metal can be sold for $0.80 per pound. Which method for developing the mine should be used if your objective is to maximize total profit from the mine?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Engineering Economy

ISBN: 978-0132554909

15th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Question Posted: