Mohloki, Lefu Justinus2010-07-262010-07-262010-07-26http://hdl.handle.net/10539/8301Ore reserves generation at a rate lower than the depletion or mining rate will lead to a shortage of places to be mined usually referred to as ‘lack of flexibility’. The purpose of the research was to critically evaluate one major capital project that was about to be implemented with a view to establish if there exists a balance between depletion and replacement of ore reserves in that particular project. The project was planned to deliver 100 000 tonnes per month. Numerical modelling was carried out in Mine2-4D and Earthworks Production Scheduler, EPS, the results, of which, were imported into Microsoft Excel for further analysis. The analysis revealed that:- 1 Planned production level (100 000 tonnes per month) cannot be achieved at the planned development rates. 2 Production levels above 33 000 tonnes per month (15m/month face advance) takes the system out of balance. 3 Optimal Production equals 33 000 tonnes per month achieved in 4 years and maintained over 9 years. Project flexibility should be assessed before any project can be approved, and monitored throughout the life of the project.enThesis