Study on iron mining grade optimization method of open-pit mine based on marginal cost analysis

Cut-off grade is the critical grade between ore and waste rock, the technical parameters which has a major impact on the open-pit's overall economic benefits. In this paper, it is studied that the marginal cost theory, combined with open-pit's production and management characteristics, determines a reasonable cut-off grade. The economic viability of exploiting low-grade iron is studied, and it is the technical support to exploit fully the mineral resources and to improve economic performance and social cost-benefit.