Open pit optimisation using discounted economic block values
Authors: Askari-Nasab, H.1; Awuah-Offei, K.2
Source: Mining Technology : IMM Transactions section A, Volume 118, Number 1, March 2009 , pp. 1-12(12)
Publisher: Maney Publishing
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Abstract:
Strategic mine planning and the management of the future cash flows are a vital core of surface mining operations. The time dimension, which is an integral part of the scheduling problem, is not embedded in traditional ultimate pit outline optimisation algorithms. This study explores the validity of the theorem that a pit outline determined by an optimal long term schedule algorithm is constrained by the conventional Lerchs and Grossmann's (LG) optimised pit outline. This hypothesis was investigated through a case study using the intelligent open pit simulator (IOPS) founded on agent based learning theories. The optimal pushback schedule was determined using IOPS before determination of the optimised final pit outline. The economic block values were discounted with respect to the allocated extraction time, followed by final pit limits optimisation using LG algorithm.Keywords: OPTIMISATION; DISCOUNTED CASH FLOWS; MINE PLANNING; ARTIFICIAL INTELLIGENCE; OPEN PIT
Document Type: Research article
DOI: 10.1179/037178409X12450752943243
Affiliations: 1: School of Mining and Petroleum Engineering, Civil and Environmental Engineering Department, 3-044 Markin/CNRL Natural Resources Engineering Facility, University of Alberta, Edmonton, Alberta T6G 2W2, Canada;, Email: hooman@ualberta.ca 2: Department of Mining & Nuclear Engineering, Missouri University of Science & Technology, 226 McNutt Hall, Rolla, MO 65401, USA
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