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Key Performance Indicators in Mining
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Drilling Penetration Rate
Definition: The rate at which a drill can penetrate rock. Measurement: Reported in meters per hour or meters per drill bit life.
Ore to Waste Ratio
Definition: The amount of ore mined compared to the amount of waste rock. Measurement: Similar to the stripping ratio but may also include the ratio from underground mines, measured in tonnes.
Load and Haul Efficiency
Definition: The effectiveness of the loading and hauling process in moving ore or waste material. Measurement: Evaluated by metrics such as tonnes of material moved per hour or per fuel unit.
Environmental Incidents
Definition: The number of accidents or occurrences that negatively impact the environment. Measurement: Tracked as a raw count over a specific time period (e.g. annually).
Stripping Ratio
Definition: The ratio between waste removed and the amount of ore extracted in open-pit mining. Measurement: Calculated as the volume of overburden or waste material divided by the volume of ore extracted ().
Recovery Rate
Definition: The percentage of valuable metal recovered from the mined ore. Measurement: Determined by the ratio of metal produced versus the metal content of the ore ().
Production Volume
Definition: The total quantity of material, ore or mineral, produced from the mine. Measurement: Measured in tonnes (metric tons) or cubic meters.
Concentrate Grade
Definition: The quality of ore after it has been through the concentration process. Measurement: Similar to ore grade, often measured in percentage or grams per tonne for precious metals.
Blasting Efficiency
Definition: The effectiveness of the explosives used in rock fragmentation operations. Measurement: Assessed by parameters like volume of rock broken per unit weight of explosives (e.g. cubic meters/kg).
Cost per Tonne
Definition: The cost to mine, process, and deliver one tonne of ore. Measurement: Total cost divided by total quantity of ore produced, often reported in USD per tonne.
Reserve Replacement Ratio
Definition: The amount of new reserves added in a period relative to the amount of ore mined in the same period. Measurement: Calculated as new proved reserves divided by the quantity of ore mined ().
Tailings Generated per Tonne of Ore
Definition: The volume of tailings, or waste material, produced per tonne of ore processed. Measurement: Usually calculated in cubic meters per tonne.
Energy Consumption per Tonne
Definition: The amount of energy used to produce one tonne of ore. Measurement: Expressed in kilowatt-hours per tonne (kWh/t).
Cut-off Grade
Definition: The minimum ore grade at which material can be economically mined and processed. Measurement: Similar to ore grade, but used in the context of economic viability.
Mean Time Between Failures (MTBF)
Definition: The average time between equipment failures that result in downtime. Measurement: Calculated as the total operational time divided by the number of failures ().
Utilisation Rate
Definition: The percentage of the available time that mining equipment is in operation. Measurement: Calculated as .
Exploration Success Rate
Definition: The probability of finding commercially viable mineral deposits during exploration activities. Measurement: Calculated as the ratio of successful exploration projects to total exploration projects undertaken.
Mine Life
Definition: The estimated length of time a mine can operate profitably based on its reserves. Measurement: Expressed in years, considering both reserves and production rate.
Employee Turnover Rate
Definition: The rate at which employees leave the company and are replaced by new hires. Measurement: Calculated as .
Mean Time To Repair (MTTR)
Definition: The average time required to repair a piece of equipment and bring it back into operation after a failure. Measurement: Calculated as the total downtime divided by the number of repairs ().
Compliance with Environmental Regulations
Definition: The degree to which the mining operations follow local, national, and international environmental laws. Measurement: Often represented as a percentage reflecting the proportion of standards met over total applicable standards.
Ore Grade
Definition: The concentration of the desired mineral within the ore being mined. Measurement: Usually measured as grams per tonne for precious metals, or as a percentage for other minerals.
Mill Throughput
Definition: The amount of ore processed through the mill over a specific period of time. Measurement: Often measured in tonnes per day (tpd) or tonnes per hour (tph).
Total Recordable Injury Frequency Rate (TRIFR)
Definition: The rate of recordable work-related injuries per million hours worked. Measurement: Calculated as .
Water Usage per Tonne
Definition: The volume of water used per tonne of ore processed. Measurement: Expressed in liters per tonne or cubic meters per tonne.
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