Assessing the Economic Value of Copper Mineral Resources in Ta Phoi Area, Lao Cai Province

  • Affiliations:

    1 General Association of Geology of Vietnam, Hanoi, Vietnam
    2 Hanoi University of Mining and Geology, Hanoi, Vietnam

  • *Corresponding:
    This email address is being protected from spambots. You need JavaScript enabled to view it.
  • Received: 18th-Nov-2023
  • Revised: 5th-Mar-2024
  • Accepted: 23rd-Mar-2024
  • Online: 1st-Apr-2024
Pages: 41 - 46
Views: 275
Downloads: 1
Rating: 5.0, Total rating: 1
Yours rating

Abstract:

Copper ore is one of the minerals that play an important role in the economic development of Lao Cai province. However, this is a non-renewable resource with high risk and great environmental impact in the mining process. Therefore, it is necessary to study and evaluate the economic value of mineral resources, creating a basis for planning the process of exploration, exploitation, rational use of resources, and environmental protection. This paper evaluates the economic value of mineral resources using resource assessment techniques. The total reserves and identified resources are 21,473 thousand tons of ore, corresponding to 160,278 tons of copper. In the case of using level 122 reserves, the identified resources is 16,412 thousand tons of ore, corresponding to 129,433 tons of copper. The forecasted resources are approximately 41,050 thousand tons of ore, which is equivalent to 198,235 tons of copper. The accompanying minerals, with a resource level 333, include 6.34 tons of gold (Au) and 24.39 tons of silver (Ag). The results show that copper content in the area is varied from 0.01% to 9.18% with an average of 1.50%, and the ore grade is changed from poor to medium. The distribution of copper ores is relatively uniform to very uneven, with the largest concentration found in the Ta Phoi area. The calculated potential recovery value (GTNth) and unit area value (URV) of copper minerals in the study area are substantial, with the highest URV is observed in the Ta Phoi area and the lowest one is obtained in the Coc San area. During the extraction process, the investor should consider recovering accompanying elements such as gold and silver to enhance the mine's economic value.

How to Cite
Nguyen, P., Nguyen, D.Phuong and Vu, A.Lan Thi 2024. Assessing the Economic Value of Copper Mineral Resources in Ta Phoi Area, Lao Cai Province. Journal of Mining and Earth Sciences. 65, 2 (Apr, 2024), 41-46. DOI:https://doi.org/10.46326/JMES.2024.65(2).05.
References

Anh, B. X., Dung, T. M., Khuong, V. T., Hung, N. D. (2007). The report assesses the prospect of copper ore and other minerals in Ta Phoi area, Cam Duong town, Lao Cai province. Intergeo Division (in Vietnamese).

Dinh, N. Q., Phuong, N., Trong, P. D., Thai, P. T., Thuc, N. C., Cha, P. V., Loi, N. T., Anh, V.T.L., Hang, N. T. T., Thu, L. A., Nga, N. T. H., Diep, Q. D. (2018). Research on economic assessment of resources and economic value of several polymetallic mines in Northeast Vietnam for sustainable development. Ministry of Natural Resources and Environment (in Vietnamese).

Fong-Sam, Y. (2013). The mineral industry of Vietnam. US Geological Survey Minerals, 2011 Yearbook, p. 28.1-28.14.

Hung, K. T., Sang, P. N., Phuong, N., Dung, N. T., Bac, B. H., Phi, N. Q., Sang, B. V. (2020). Polymetallic Nodules Resource Estimation in the Suoi Thau-Sang Than Area, Northeastern Vietnam. Inżynieria Mineralna 1.2: 7-14.

Nhi, D. V., Luan. T. X., Dung, N. T. (2003). Methods of geoeconomic assessment of solid mineral deposits. Hanoi University of Mining and Geology (in Vietnamese).

Osborne, M. J. (2010). A resolution to the NPV-IRR debate?. The Quarterly Review of Economics and Finance 50(2): 234-239.

Phuong, N., Binh, L. D. (2009). It is necessary to price mineral resources in the policy "Economy of the Geology - Minerals sector". Proceedings of the conference on mineral resources and mining industry in our country: current situation and solutions. Office of the Party Central Committee. Ministry of Natural Resources and Environment (in Vietnamese).

Phuong, N., Huan, T. D. (2018). Establishing criteria for calculating ore reserves and assessing the economic value of Na Tum Pb - Zn mine in Bac Kan with the recovery of useful. The Fifteenth Regional Congress on Geology, Minerals and Energy of Southeast Asia (GEOSEA XV). HaNoi.

Torries, T. F. (2014). Evaluating mineral projects: applications and misconceptions. SME, 1998.

Wu, J. C. (2007). The mineral industry of Vietnam. 2006 Minerals Yearbook: Vietnam. US Geological Survey, Reston, USA.

Zhang, L., Yang, J., Cai, Z., Yuan Z. (2014). Analysis of copper flows in China from 1975 to 2010. Science of the Total Environment 478, p 80-89.