CXO claim cheaper operating costs with underground mining. I think it's just a claim to raise $200m dollars from someone.
Can't find anything which says it's cheaper than open pit mining.
Why is underground mining more expensive than open-pit mining?
Lower Production Rates: Underground mining can have lower production rates compared to surface mining, which means higher costs per unit of ore extracted. The more complex logistics of moving ore to the surface also contribute to this.
Higher initial investment:
Underground mines require significant upfront costs for tunneling, ventilation, and shaft construction.
Complex logistics:
Transporting materials and personnel in and out of underground mines is more challenging and costly.
Higher operating costs:
Underground operations often involve more sophisticated equipment and higher energy consumption.
Safety considerations:
Increased risks associated with cave-ins, gas buildup, and other hazards necessitate additional safety precautions, increasing costs.
(20min delay)