Performance evaluation of a new stochastic network flow approach to optimal open pit mine design - application at a gold mine
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The optimal design of production phases and ultimate pit limit foran open pit mining operation may be generated using conventionalor stochastic approaches. Unlike the conventional approach, thestochastic framework accounts for expected variability anduncertainty in metal content by considering a set of equallyprobable realizations (models) of the orebody. This paper evaluatesthe performance of a new stochastic network flow approach for thedevelopment of optimal phase design and ultimate pit limit using agold deposit as the case study. The stochastic and conventionalframeworks as considered here utilize the maximum flow andLerchs-Grossman (LG) algorithms, respectively. The LG algorithm isrestricted to considering an estimated (average-type) orebodymodel, while the stochastic maximum flow algorithm is developed tosimultaneously use a set of simulated orebody realizations as aninput. The case study demonstrates that, when compared to theconventional LG algorithm as used in the industry, the stochasticapproach generates a 30 per cent increase in discounted cash flow, a21 per cent larger ultimate pit limit, and about 7 per cent moremetal, while it maintains a consistency in phase size.
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Performance evaluation of a new stochastic network flow approach to optimal open pit mine design - application at a gold mineAsad, Mohammad Waqar; Dimitrakopoulos, R. (2012)The optimal design of production phases and ultimate pit limit for an open pit mining operation may be generated using conventional or stochastic approaches. Unlike the conventional approach, the stochastic framework ...
Implementing a parametric maximum flow algorithm for optimal open pit mine design under uncertain supply and demandAsad, Mohammad Waqar; Dimitrakopoulos, R. (2013)Conventional open pit mine optimization models for designing mining phases and ultimate pit limit do not consider expected variations and uncertainty in metal content available in a mineral deposit (supply) and commodity ...
Chatterjee, S.; Sethi, M.; Asad, Mohammad Waqar (2016)Open pit mine design optimization under uncertainty is one of the most critical and challenging tasks in the mine planning process. This paper describes the implementation of a minimum cut network flow algorithm for the ...