Theory 061/Mining & Minerals
Ore Cost Is a Liberation Ratio
The claim
Processing energy per unit metal is set by the ratio of energy needed for liberation to the grade recovered, so falling grade raises cost faster than linearly.
01The mechanism
Liberation requires grinding to a size set by grain size; finer grinding costs more energy per tonne while grade falls, so both terms move against the operator.
02Predictions
- P1Energy per unit metal should scale with the ratio.
- P2Grade declines should raise cost superlinearly.
03Refutation
Energy per unit metal tracking grade alone would remove the liberation term.