Strategic mine planning model using network flow model and real case application
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Strategic mine planning is one of the key factors in the successful survival of largescale mining companies in the long term, and deals with billions of dollars inmagnitude. It provides answers in regards to how much capital should beinvested, in what resources and when, and finally what type of productionstrategies should be followed in terms of capacity and product specifications.Existing tools fail to provide optimum solutions to these problems, mainly due totheir large scale nature and inherent technical complexities. This article presents anetwork linear programming (LP) model to efficiently optimise strategic planningand production scheduling by maximising net present value (NPV). The model isapplied to optimise the strategic schedule over a 50-year life span for a largemining district in Western Australia which contains many mines with more than100 pits and 13 plants.
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