Title

Optimising Open Pit Mine Scheduling Taking into Consideration Time Value of Money and Mining Restrictions

Abstract

In an earlier study, the authors introduced the new algorithm that allows for a definition of open pit limits taking into consideration time value of money. This study presents further expansion of this algorithm that allows determining the optimum mining sequence and optimum width of pushbacks, in a manner that maximises the net present value (NPV) of a deposit. The algorithm combines dynamic programming and mining heuristic, and allows for incorporation of price vectors, costs, cut-off grades and other mine design parameters. Test runs of the algorithm conducted by the authors have led consistently to pits and mining sequences with higher NPV values than those generated using parametric techniques. © 2013 Copyright Taylor and Francis Group, LLC.

Department(s)

Mining and Nuclear Engineering

Keywords and Phrases

Long Range Mine Planning; Mining Sequence; NPV Optimisation; Pit Limit Optimisation; Pushbacks

Document Type

Article - Journal

Document Version

Citation

File Type

text

Language(s)

English

Rights

© 2013 Taylor & Francis, All rights reserved.


Share

 
COinS