Life of mine
How long a mine produces, and how long the whole project lasts once the build years before and the closure years after are counted.
2 min read
Life of mine is how long a mine produces. The whole project life is longer: it includes the years of building before and the years of closure after.
What it is
is the number of years a mine operates, from first production until the ore planned for mining runs out.
The full project timeline
Production is only the middle of a project's life:
| Phase | Typical length | What happens |
|---|---|---|
| Construction | 2–4 years | Initial capex is spent; no revenue |
| Ramp-up | 6–24 months | Production builds up to the design rate, often with lower recovery and higher costs |
| Steady production | The life of mine | Ore is mined and processed at design rates |
| Closure and rehabilitation | 1–5 years, then monitoring | The site is made safe and restored, at a cost |
What sets it
- Mineable tonnes: usually the , not the whole resource.
- Throughput: a larger plant processes the ore faster, giving a shorter life with higher yearly production.
- Price and costs: a higher price can make lower-grade rock worth mining and extend the life.
- Exploration: new ore found near the mine often extends life well beyond the first plan.
Why it matters
- Payback: initial is spread over the life of mine. A short life leaves little time to repay it.
- Timing: the construction years come first and earn nothing, so a long build delays every dollar of revenue.
- Closure costs arrive at the end, when the mine is no longer earning.
- Size versus speed: a bigger plant earns more each year but uses the deposit up faster. Studies test both.
Ranges are indicative and vary widely by deposit. This is educational material, not investment advice.
Key terms
Next in this track
Mining studies: PEA, PFS and FSThree studies of rising detail turn a deposit into a mine plan with a price tag: the preliminary economic assessment, the pre-feasibility study and the feasibility study. What each contains, how far to trust it, and what it unlocks.Related articles
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Educational material only. Nothing here is investment advice or an offer to buy or sell any security or mineral interest.