M. F. Del Castillo, M. C. Godoy
This paper presents a mixed integer programming formulation dealing with the effective minimisation of risk incurred when optimizing mining production rates in such a way that production targets are met in the presence of geological uncertainty. This is developed through the concept of a 'stable solution domain' that provides all feasible combinations of ore and waste extraction for the ultimate pit limit of a given deposit, independent of the geological risk. The proposed formulation provides an optimal annual extraction rate, together with the optimal utilization of a mining fleet and an equipment acquisition program. This solution eliminates unnecessary capital expenditures and is feasible under all geological scenarios. The mathematical programming model is detailed and tested at a gold deposit. The results are used as input to a production schedule design and are compared to the schedule generated using a constant mining rate; the comparison shows that about 40% of equipment acquisition can be delayed for 7 years and mine demand still be met, thus maximizing profit and minimizing costs.
@article{9c7da62a-be47-49d8-98f5-5c2d12d82216,
title={Optimal Mining Rates Revisited Managing},
author={M. F. Del Castillo and M. C. Godoy},
year={2026},
language={en}
}TY - JOUR TI - Optimal Mining Rates Revisited Managing AU - M. F. Del Castillo AU - M. C. Godoy PY - 2026 LA - en ER -
Mark E. Schlesinger, Matthew J. King
This book presents a comprehensive overview of the principles and practices of copper extraction metallurgy. The objective is to provide both a theore
FATHI HABASHI
In the past few years, extractive metallurgy has been advancing gradually, despite the absence of remarkable new ideas. This paper aims to summarize t
P Card, J Canterford
This document presents a collection of papers from the METPLANT 2011 conference focusing on metallurgical plant design and operating strategies. The o
The Australasian Institute of Mining and Metallurgy
This conference, held in Perth, Western Australia, focuses on the latest advancements in metallurgical processing plant design and operational strateg
This paper addresses the challenge of assessing the feasibility of wind power plant projects at sites with insufficient or no local historic wind data