June 2014
MODERN MINING
47
EXPLORATION AND
GEOLOGY
ture
digital era
holes and sample information. One example
of these tools, Dynamic Shells, is designed to
save time when initially evaluating deposits,
and can assist in generating surfaces and solids
in moments as opposed to hours.
When a sufficient model has been con-
structed, an initial mine design can be reviewed
with Whittle to determine if the project will
be economically viable. In this software, the
user can make different economic assump-
tions about commodity prices and operating
costs, while adjusting the size of the pit to test
different scenarios over time. The ultimate
objective is to see if it meets investment cri-
teria by looking at its NPV. It is common for
financial institutions to ask if a “project has
been Whittled?”
With more active investor and community
scrutiny into proposed mining operations, the
next need for mining companies who intend to
develop exploration properties is to leverage
the geological information they have collected
to tell the story of the operation before ground
is struck. This ‘social licence’ to mine is mov-
ing into the virtual 3D world where it is now
possible to look at how the mine will be con-
structed, what its impact will be on the local
area, and what it will look like following recla-
mation and closure.
For junior mining companies looking to raise
funds for their projects, the 3D virtual world
can tell a compelling story to potential inves-
tors. iPads and other tablets, or websites can
be used to interactively show off the geological
model, and potential mine development. The
investor literally has the ability to rotate, view
and interact with the models.
Whatever the requirements of mining
and exploration companies in analysing and
developing deposits, it is clear that software,
especially applications that connect people
together visually, and to geological data, will
play a critical role. That is because the nature of
the mining industry is changing. It is pushed by
shareholders to innovate and make better use
of its physical resources and the expertise of its
people to exploit them more economically.
It is common
for financial
institutions to
ask if a “project
has been
Whittled?”
