Global optimization of open pit mining complexes with uncertainty

Goodfellow, Ryan; Dimitrakopoulos, Roussos

doi:10.1016/j.asoc.2015.11.038

Cited by 140 publications

(120 citation statements)

References 29 publications

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“…Geological uncertainty is especially crucial for mineral processing plants that are fed by nearby orebodies (Montiel & Dimitrakopoulos, 2015;Goodfellow & Dimitrakopoulos, 2016). This type of uncertainty is related to the sparsity of drill core samples used to characterize the orebody.…”

Section: Introductionmentioning

confidence: 99%

“…Newer techniques consider a sequence of possible scenarios obtained through conditional simulation (Remy et al, 2009), described in the following section; these techniques employ twostage stochastic optimization, described in the final section of this paper. In comparison to the traditional deterministic approaches (Figure 1), the current stochastic approaches (Figure 2) have been shown to produce more adaptable mine plans, thereby increasing the expected NPV of mining operations by over 20%, which may correspond to hundreds of millions of dollars (Goodfellow & Dimitrakopoulos, 2016). …”

Section: Introductionmentioning

confidence: 99%

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Incorporation of geometallurgical modelling into long-term production planning

Navarra

Grammatikopoulos²,

Waters

2018

Minerals Engineering

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Strategic decisions to develop a mineral deposit are subject to geological uncertainty, due to the sparsity of drill core samples. The selection of metallurgical equipment is especially critical, since it restricts the processing options that are available to different ore blocks, even as the nature of the deposit is still highly uncertain. Current approaches for long-term mine planning are successful at addressing geological uncertainty, but do not adequately represent alternate modes of operation for the mineral processing plant, nor do they provide sufficient guidance for developing processing options. Nonetheless, recent developments in stochastic optimization and computer data structures have resulted in a framework that can integrate operational modes into strategic mine planning algorithms. A logical next step is to incorporate geometallurgical models that relate mineralogical features to plant performance, as described in this paper.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Incorporation of geometallurgical modelling into long-term production planning

Navarra

Grammatikopoulos²,

Waters

2018

Minerals Engineering

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“…In order to evaluate the risk associated with stochastic decision making, a risk analysis is performed on the life-of-mine plans corresponding to the optimal transition depth stated above. Similar analysis has been done extensively on open pit case studies (Dimitrakopoulos et al 2002;Godoy 2003;Jewbali 2006;Leite and Dimitrakopoulos 2014;Ramazan andDimitrakopoulos 2005, 2013;Goodfellow 2014). To do so, a set of 20 simulated scenarios of the grades of the deposit are used and passed through the long-term production schedule determined for the optimal transition depth, which in this case is Transition Depth 2.…”

Section: Stochastic Optimization Results and Risk Analysismentioning

confidence: 99%

“…Goovaerts 1997;Soares et al 2017;Zagayevskiy and Deutsch 2016). Such scheduling optimizers have been long shown to increase the net present value of an operation, while providing a schedule that defers risk and has a high probability of meeting metal production and cash flow targets (Godoy 2003;Ramazan and Dimitrakopoulos 2005;Jewbali 2006;Kumral 2010;Albor and Dimitrakopoulos 2010;Goodfellow 2014;Montiel 2014;Gilani and Sattarvand 2016;and others). Implementing such frameworks is extremely valuable when making longterm strategic decisions because of their ability to accurately value assets.…”

Section: Introductionmentioning

confidence: 99%

A stochastic optimization formulation for the transition from open pit to underground mining

MacNeil

Dimitrakopoulos

2017

Optim Eng

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As open pit mining of a mineral deposit deepens, the cost of extraction may increase up to a threshold where transitioning to mining through underground methods is more profitable. This paper provides an approach to determine an optimal depth at which a mine should transition from open pit to underground mining, based on managing technical risk. The value of a set of candidate transition depths is calculated by optimizing the production schedules for each depth's unique open pit and underground operations which provide yearly discounted cash flow projections. By considering the sum of the open pit and underground mining portion's value, the most profitable candidate transition depth is identified. The optimization model presented is based on a stochastic integer program that integrates geological uncertainty and manages technical risk. The proposed approach is tested on a gold deposit. Results show the benefits of managing geological uncertainty in long-term strategic decision-making frameworks. Additionally, the stochastic result produces a 9% net present value increase over a similar deterministic formulation. The risk-managing stochastic framework also produces operational schedules that reduce a mining project's susceptibility to geological risk. This work aims to approve on previous attempts to solve this problem by jointly considering geological uncertainty and describing the optimal transition depth effectively in 3-dimensions.

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“…'Personal best' is analogous to short-term planning or scheduling requirements in mine planning, while 'global best' is analogous to long-term scheduling requirements. PSO provides opportunities for integrating the optimization of short-term and long-term mine planning in 3D space so that the two can be executed simultaneously, such as in the work by Khan and Niemann-Delius (2014) and Goodfellow and Dimitrakopoulos (2016).…”

Section: Optimization In Underground Mine Planning-developments and Omentioning

confidence: 99%

Presidential Address: Optimization in underground mine planning- developments and opportunities

Musingwini

2016

J. South. Afr. Inst. Min. Metall.

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Global optimization of open pit mining complexes with uncertainty

Cited by 140 publications

References 29 publications

Incorporation of geometallurgical modelling into long-term production planning

Incorporation of geometallurgical modelling into long-term production planning

A stochastic optimization formulation for the transition from open pit to underground mining

Presidential Address: Optimization in underground mine planning- developments and opportunities

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