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ArticleName Mathematic economic model of technology for mineral cotton production, based on rocks processing waste material utilization
DOI 10.17580/or.2015.06.07
ArticleAuthor Bortnikov А. V., Samukov А. D., Shuloyakov А. D., Baranov V. F.

Interstroyproekt, CISC (Russia):

Bortnikov А. V., D. in Engineering Sciences, Chief Specialist,

Samukov А. D., Chief Project Engineer,

Shuloyakov А. D., Ph. D. in Engineering Sciences, General Director,


Mekhanobr Engineering, JSC (Russia):

Baranov V. F., Doctor of Engineering Sciences, Deputy Director General (till August 2015),


The paper presents a method for development of a mathematic economic model for assessment of profitability of alternative technologies for dispersed rock material waste recycling with a view to produce mixture, suitable for mineral cotton production. Mathematic economic modeling is used for determination of a most promising waste processing flow sheet producing mixture in question, choosing from the four technologically viable alternative flow sheets. With that, most cost effective options of each of the four flow sheets are specified, providing for application of different binding materials (bentonite or cement) with varying throughput rate of processing installation with respect to final product (1.0, 2.5, 12 t/hr), with two ratios of granite / dolomite — 70 : 25 and 75 : 20. Modeling algorithm of the main optimization criterion — quantity of net present value (NPV) — is developed in Excel. On the basis of the obtained data, a calculation algorithm is synthesized for economic criterion computation in connection with changes in main parameters at input to the mathematic economic model. With that, operating costs are calculated in a preset range of selected parameters, net present value (NPV) is determined for an assumed planning horizon with consideration of discounting. A comparative analysis of product costing results showed that only 6 mixture preparation technologies out of 24 under consideration proved to be commercially viable. From those 6 technologies an optimal one was determined through modeling, distinguished by a most efficient combination of existing processing parameters. With respect to this optimal alternative, NPV amounted to 25.3 million rubles, discounted pay-back period for capital investment recoupment being 2.8 years.

The work was performed with the financial aid from the Ministry of Education and Science of the Russian Federation (the Project No. 14.576.21.0042, dated 16.07.2014, UIPNI RFMEFI57614X0042).

keywords Rock material processing waste, mineral cotton, economic viability, capital investment efficiency, NPV, mathematic economic modeling

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