Perth Mining Company operates two mines for the purpose of extracting gold and silver. The Saddle Mine costs $15,000/day to operate, and it yields 50 oz of gold and 3000 oz of silver each of x day. The Horseshoe Mine costs $20,000/day to operate, and it yields 75 oz of gold and 1000 oz of silver each of y day. Company management has set a target of at least 650 oz of gold and 18,000 oz of silver. How many days should each mine be operated so that the target can be met at a minimum cost?
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What is the minimum cost?
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Perth Mining Company operates two mines for the purpose of extracting gold and silver. The Saddle...
Formulate but do not solve the following exercise as a linear programming problem. Perth Mining Company operates two mines for the purpose of extracting gold and silver. The Saddle Mine costs $16,000/day to operate, and it yields 55 or of gold and 3000 ou of silver each of days. The Horseshoe Mine costs $18,000/day to operate, and it yields 75 oz of gold and 1500 of siver each of y days. Company management has set a target of at least...
A mining company owns two mines. These mines produce an ore that can be graded into two classes: regular grade and low grade. The company must produce at least 150 tons of regular-grade and 140 tons of low-grade ore per week. The first mine produces 3 tons of regular-grade and 7 tons of low-grade ore per hour. The second mine produces 5 tons of regular-grade and 2 tons of low-grade ore per hour. The first mine can be operated no...
Bullock Gold Mining C eth Bullock, the owner of Bullock Gold Mining, is evaluating a new gold mine in South Dakota. Dan Dority, the company's geologist, has just finished his analysis of the mine site. He has estimated that the mine would be productive for eight years, after which the gold would be completely mined. Dan has taken an estimate of the gold deposits to Alma Garrett, the company's financial officer. Alma has been asked by Seth to perform an...
CHAPTER CASEBullock Gold Mining Seth Bullock, the owner of Bullock Gold Mining, is evaluating a new gold mine in South Dakota. Dan Dority, the company's geologist, has just finished his analysis of the mine site. He has estimated that the mine would be productive for eight years, after which the gold would be completely mined. Dan has taken an estimate of the gold deposits to Alma Garrett, the company's financial officer. Alma has been asked by Seth to perform an...
Bullock Gold Mining Seth Bullock, the owner of Bullock Gold Mining, is evaluating a new gold mine in South Dakota. Dan Dority, the company’s geologist, has just finished his analysis of the mine site. He has estimated that the mine would be productive for eight years, after which the gold would be completely mined. Dan has taken an estimate of the gold deposits to Alma Garrett, the company’s financial officer. Alma has been asked by Seth to perform an analysis...
Titlas Gold Mining Seth Titals, the owner of Titals Gold Mining, is evaluating a new gold mine in South Dakota. Dan Dority, the company’s geologist, has just finished his analysis of the mine site. He has estimated that the mine would be productive for sixteen years, after which the gold would be completely mined. Dan has taken an estimate of the gold deposits to Alma Garrett, the company’s financial officer. Alma has been asked by Seth to perform an analysis...
BETHESDA MINING COMPANY Bethesda Mining is a midsized coal raining company with 20 mines located in Ohio, Pennsyl- vania, West Virginia, and Kentucky. The company operates deep mines as well as strip mines. Most of the coal mined is sold under contract, with excess production sold on the spot market. The coal mining industry, especially high-sulfur coal operations such as Bethesda, has been hard-hit by environmental regulations. Recently, however, a combination of increased demand for coal and new pollution reduction...
highland Mining and Minerals Co. is considering the purchase of two gold mines. Only one investment will be made. The Australian gold mine will cost $1,630,000 and will produce $361,000 per year in years 5 through 15 and $555,000 per year in years 16 through 25. The U.S. gold mine will cost $2,020,000 and will produce $258,000 per year for the next 25 years. The cost of capital is 10 percent. Use Appendix D for an approximate answer but calculate...
Bullock Gold Mining Seth Bullock, the owner of Bullock Gold Mining, is evaluating a new gold mine in South Dakota. Dan Dority, the company’s geologist, has just finished his analysis of the mine site. He has estimated that the mine would be productive for eight years, after which the gold would be completely mined. Dan has taken an estimate of the gold deposits to Alma Garrett, the company’s financial officer. Alma has been asked by Seth to perform an analysis...
Highland Mining and Minerals Co. is considering the purchase of two gold mines. Only one investment will be made. The Australian gold mine will cost $1,630,000 and will produce $361,000 per year in years 5 through 15 and $555,000 per year in years 16 through 25. The U.S. gold mine will cost $2,020,000 and will produce $258,000 per year for the next 25 years. The cost of capital is 10 percent. Use Appendix D for an approximate answer but calculate...