A parametric cost model for loading and hauling equipment in open pit mines

Loading and hauling represent an important part of open pit mines production cycle and account for a considerable share of the total operating cost. The decision making during mine planning requires suitable and quick cost models. This paper intends to develop a model for estimating the capital and operating cost of major loading and haulage equipment used in the open pit mining, applying single (SRA) and multiple regression analysis (MRA). The MRA is based on Principal Component Analysis (PCA). The equipment include classical loading vehicles including hydraulic and cable shovels, wheel loader and backhoe along with rigid rear dump truck. Cost functions are classified on the basis of cost types; i.e. capital and operating costs. Furthermore, a set of functions is presented for operation cost items. Explanatory variable in SRA is bucket capacity of loading and hauling while explanatory variables in MRA include bucket capacity, power and certain specific parameters (including dump height, digging depth and boom length) depending on the proposed equipment. The performance of each multivariate cost function has been measured through the Mean Absolute Error Rate, whose maximum was found to be 17%.