Which method for developing the mine should be used

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Reference no: EM13250141

one method for developing a mine containing an estimated 100,000 tons for ore will result in the recovery of 62% of the available ore deposit and will cost $23 per ton of material removed. A second method of development will recover only 50% of the ore deposit , but it will cost only $15 per ton of material removed.Subsequent processing of the removed ore recovers 300 pounds of metal from each ton of processed ore and cost $40 per ton of ore processed.The recovered metal can be sold for $0.80 per pound. Which method for developing the mine should be used if your objective is to maximize total profit from the mine?

Reference no: EM13250141

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