Mine design and long-term production Scheduling is an intricate and critically important part of mining ventures. The determination of an optimum production schedule is essentially a problem of trading net income early in the life of the mine for net income later in the life of the mine.
But the question is, will this income compensate for the loss of income at some future time because of depletion of the ore body or higher prices? – Also, there is not a dollar-for-dollar trade, since, at higher production rates, metallurgical efficiencies drop and, consequently, the income from a ton of ore drops.
That is the reason why mathematical methods should be used to provide analytical tools and advanced mine optimisation process for optimising mine planning considering both all economic and operational variables and the effect of their inherent uncertainty on final project value.
R&O ANALYTICS solutions for mine planning optimisation covers the following:
