scholarly journals Project optimization

2015 ◽  
Vol 68 (1) ◽  
pp. 97-102 ◽  
Author(s):  
Carla De Carli ◽  
Peroni Rodrigo de Lemos

A mineral deposit can be exploited by underground methods or by open pit methods, defined according to their characteristics, especially in relation to depth and geometry of the ore body and the economic feasibility of the methods. However, there are cases in which the alternative that represents the best return for the project is the application of combined methods, i.e., the open pit followed by underground mining. In these situations, the major difficulty is the definition of the transition point of methods, seeking to maximize the net present value of the project and the use of mineral resources. The premature suspension of activities in the open pit, as well as advancing beyond the optimum depth, can derail the implementation of the combination of methods, so it is important to analyze the project not only individually but also in an integrated way.

2020 ◽  
Vol 12 (4) ◽  
pp. 511-518
Author(s):  
S. P. Reshetnyak ◽  
D. A. Vedrova

The development of mineral resources deposits, whether it is open pit or underground mining, involves a large amount of initial investment, much of which is spent on building the infrastructure of the future enterprise. Capital investments will be the greater, the farther the deposit is located from regional centers, settlements, the more complex the structure of the deposit itself is. Modern market economy reality makes the question of equity distribution opportunities on mining one of the most pressing. Participation in the tender for the license acquisition, despite the antitrust policy of the state in this area, can be afforded mostly only by representatives of large businesses, while small regional companies are left to deal with less attractive deposits in terms of investment in the development. The authors of the article have analyzed and ranked the main factors affecting the profitability of mineral deposit development during the period prior to its commissioning, with the aim of offering a method of economic support and incentives for business representatives who are ready to take specific mining risks. Based on the considered factors, a classification of deposits according to the profitability of mining was developed, the use of which can give a more accurate description of the proposed subsoil use areas by the level of necessary investments in the construction of a mining enterprise. The authors have proposed an economic mechanism to stimulate regional subsoil users who are ready to develop deposits of mineral resources that are risky in terms of long-term investment. A refund ratio is proposed – which part of the license cost for subsoil use is supposed to be returned, during the construction of the enterprise period, before it reaches its planned capacity.


Minerals ◽  
2019 ◽  
Vol 9 (2) ◽  
pp. 108 ◽  
Author(s):  
Nelson Morales ◽  
Sebastián Seguel ◽  
Alejandro Cáceres ◽  
Enrique Jélvez ◽  
Maximiliano Alarcón

Long-term open-pit mine planning is a critical stage of a mining project that seeks to establish the best strategy for extracting mineral resources, based on the assumption of several economic, geological and operational parameters. Conventionally, during this process it is common to use deterministic resource models to estimate in situ ore grades and to assume average values for geometallurgical variables. These assumptions cause risks that may negatively impact on the planned production and finally on the project value. This paper addresses the long-term planning of an open-pit mine considering (i) the incorporation of geometallurgical models given by equiprobable scenarios that allow for the assessing of the spatial variability and the uncertainty of the mineral deposit, and (ii) the use of stochastic integer programming model for risk analysis in direct block scheduling, considering the scenarios simultaneously. The methodology comprises two stages: pit optimization to generate initial ultimate pit limit per scenario and then to define a single ultimate pit based on reliability, and stochastic life-of-mine production scheduling to define block extraction sequences within the reliability ultimate pit to maximize the expected discounted value and minimize the total cost of production objective deviations. To evaluate the effect of the geometallurgical information, both stages consider different optimization strategies that depend on the economic model to be used and the type of processing constraints established in the scheduling. The results show that geometallurgical data with their associated uncertainties can change the decisions regarding pit limits and production schedule and, consequently, to impact the financial outcomes.


2020 ◽  
Vol 1 (1) ◽  
pp. 1-8
Author(s):  
Sari Uly Uly Sibarani ◽  
Fadhila A Rosyid ◽  
Aryo P Wibowo ◽  
Lilik E Widodo ◽  
M Nur Heriawan

ABSTRAKKonservasi mineral akan tercapai manakala semakin banyak cadangan mineral tertambang dan meninggalkan sesedikit mungkin material waste. Untuk mencapai hal tersebut salah satu cara yang dapat ditempuh adalah menentukan jumlah cadangan berdasarkan kadar batas yang optimal (optimum cut-off grade). Dalam penentuan optimum cut-off grade, model matematis yang dapat dipergunakan adalah model/persamaan Lane. Metode Lane akan memaksimalkan nilai Net Present Value (NPV) dengan mempertimbangkan 3 variabel, yaitu; variabel ekonomi (harga komoditas dan biaya), distribusi kadar pada endapan, dan kapasitas maksimum pada tahapan penambangan (mining, milling, and refinery). Model Lane biasa diterapkan dalam tambang terbuka, namun dalam penambangan bawah tanah sulit untuk diterapkan. Dalam peper ini akan dikaji penerapan Model Lane dalam penentuan optimum cut-off grade pada penambangan urat (vein) emas bawah tanah dengan metode cut-and-fill. Hasil simulasi menunjukkan nilai optimum cut-off grade yang dinamis dalam memaksimalkan NPV dan nilainya lebih besar dari break even cut-off grade.Kata Kunci: model Lane, optimum cut-off grade, tambang bawah tanah ABSTRACTMineral conservation will be obtained if more mineral reserves are extracted and leaves less waste as possible. One of the methods to achieve those condition is determining the total minable reserves based on the optimum cut-off grade. Optimum cut-off grade can be estimated using Lane Model. Lane Model will maximize the Net Present Value (NPV) by considering 3 variables, i.e; economic variables (commodity prices and costs), grade distribution of deposit, and maximum capacity of each stage of production (mining, milling, and refinery). Lane models are usually applied in open-pit mines, unfortunately it is difficult to apply for underground mining unless some there are some modifications. This paper will examine the application of the Lane Model in determining the optimum cut-off grade in underground gold mine using cut-and-fill method to extract vein type deposit. Simulation result show dynamic optimum cut-off grade which maximizing NPV and generally greater than the break-even cut-off grade.Key Words: Lane model, optimum cut-off grade, underground mine 


Energies ◽  
2020 ◽  
Vol 13 (16) ◽  
pp. 4178 ◽  
Author(s):  
Michael Wessel ◽  
Reinhard Madlener ◽  
Christoph Hilgers

This work aims at the economic evaluation of a semi-underground pumped hydro storage power plant erected in an abandoned open-pit mine. For the exploratory model-based analysis, we develop and apply both a simple deterministic and a stochastic net present value (NPV) approach, the latter of which uses a Monte Carlo simulation to account for revenue uncertainty from electricity price fluctuations. The analytical framework developed is applied to two promising sites in the Rheinland region in Germany, Hambach and Inden, making reasonable parameter value assumptions and considering and ignoring the lengthy duration of lower reservoir flooding. The investor’s value-at-risk is computed for alternative performance indicators (NPV, net cash recovery, profit-to-investment ratio, and specific production costs) to compare the different outcomes in terms of the project’s financial risk distribution. Calculations show that a semi-underground pumped hydro storage power plant in an abandoned open-pit mine can be constructed at reasonably low investment costs and operated at low specific production costs. However, because the investment has to be made long before the pit lake is (naturally) flooded—a process that for realistic flow rates may take up to 20 years—the project is highly uneconomical and would require substantial subsidies, as compared to a situation where flooding happens immediately.


2019 ◽  
Vol 105 ◽  
pp. 04033 ◽  
Author(s):  
Svetlana Kolomiets ◽  
Elena Medvedeva ◽  
Alena Perevalova

Currently, the minerals’ extractive industries are going through a deep technological modernization, with a characteristic expansion of international exchange of knowledge and know-how. The unification of the equipment used in open-pit and underground mining, the global spread of advanced mining technologies increases the importance of the linguistic competencies of mining engineers. At the same time, the specifics of training mining engineers is the uniqueness of situations in the extraction and processing of mineral resources, which actualizes the case study method in the training of mining engineers. The paper provides a description of the term «case study» and its basic characteristics and principles of application. The content is based on the authors’ own experience of mining engineers in case studies while teaching English. Some examples of case studies for mining engineering students studying English are presented. The paper notes the effectiveness of implementing case study method and shows its benefits for introducing in the process of mining engineers training. In addition to listing positive effects of the method for developing skills necessary for competitive specialists such as critical thinking, problem solving, creativity, collaboration, etc., the authors mention possible problems that are likely to occur while using this method as well.


Minerals ◽  
2021 ◽  
Vol 11 (8) ◽  
pp. 818
Author(s):  
Qinli Zhang ◽  
Bingyi Zhang ◽  
Qiusong Chen ◽  
Daolin Wang ◽  
Xiang Gao

The transition from open pit mining to underground mining is essential for mineral resources to achieve deep excavation. Recently, cemented paste backfill (CPB) has been proposed as a novel technology to achieve open pit backfill (OPB). The proposed method not only eliminates the danger of the open-pit slope but also reduces the disposal of waste tailings. In order to ensure safe mining during the synergetic operation of OPB and underground mining, it is of great significance to improve this technology. In the present study, an open-pit metal mine in Anhui Province was taken as the research object. Then, the safety of underground stope roofs, underground backfill pillars, and open-pit slopes was evaluated during OPB. To this end, numerical simulations were performed and experiments were conducted on a similar physical model. Accordingly, the backfill mechanical parameters were optimized. The obtained results show that backfill height exerts the most significant effect on the safety of roofs and underground backfill pillars, accompanied by small displacements along the vertical direction during the backfill process. Moreover, concentration was observed at the foot of the slope, while the overall structure remained stable with no considerable displacement. The overall safety factors met the safety requirements. Based on the obtained results, the optimal foundation strength, foundation height, backfill strength and backfill height were 4 MPa, 10 m, 1.5 MPa, and 120 m, respectively. Moreover, it was concluded that displacements in the abovementioned three regions tend to be stable when the backfill height exceeds 150 m without damage. The present article provides a certain theoretical and application guideline for OPB practices in similar metal mines and suggests possibilities for cleaner production.


Minerals ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 172
Author(s):  
Mélanie LaRoche-Boisvert ◽  
Roussos Dimitrakopoulos

The simultaneous stochastic optimization of mining complexes optimizes various components of the related mineral value chain jointly while considering material supply (geological) uncertainty. As a result, the optimization process capitalizes on the synergies between the components of the system while not only quantifying and considering geological uncertainty, but also producing strategic mine plans, maximizing the net present value. This paper presents an application of simultaneous stochastic optimization at a large gold mining complex. The complex contains three open-pit mines, three stockpiles, a waste dump, and a processing facility. Material hardness management is integrated at the processing facility. The case study generated production schedules for each mineral deposit considered, as well as an overall assessment of the project and related forecasts. It resulted in an 18 year life-of-asset and identified the semi-autogenous grinder (SAG) mill as the bottleneck of the operation.


Author(s):  
I. V. Sokolov ◽  
Y. G. Antipin ◽  
A. A. Smirnov ◽  
I. V. Nikitin

Within the new methodological approach, a scientific and technical substantiation of the optimal underground geotechnology with the combined development of ore deposits based on the characteristics of transients was completed. Based on the analysis of experience of the combined development of ore deposits, the transition process features were revealed: a sharp decrease in the production capacity of the enterprise and an increase in capital investments, and its main goal was determined - to create the most favorable conditions for the transformation of the mining enterprise from one stable state to another. The types of transition areas are systematized depending on the scheme of conducting open and underground mining during the transition period. Four rational options for underground geotechnology that take into account specific factors and conditions formed during open mining, providing optimal parameters for the development of underground mining at a new stable stage, are developed. The method of economic and mathematical modeling for the conditions of the of the Safyanovsky copper deposits investigated the influence of specific factors on the gross profit - the depth of the open pit, which varies in the range from 140 to 380 m, and the depth of the reserves under open pit, which varies in the range from 80 to 320 m. The best option for underground geotechnology, which provides for the phased opening of underquarry reserves by a autoincline from the open pit and an runaway from the surface, mining the transition zone by level-chamber system with filling under ore insulating pillar formed within the transition zone, and the further development of the main reserves by level-chamber system with filling under filling mass, is established by the criterion of net present value.


2017 ◽  
pp. 81-86
Author(s):  
Carolina Navia-Vásquez ◽  
María Camila Monsalve-Hinestroza ◽  
Giovanni Franco-Sepúlveda

The function of all software is to model situations that look like reality, in order to find the most viable conditions for developing a mining project, since in these what is sought is to increase revenue and reduce costs by making better decisions. In this industry investors seek to obtain the highest income in exploiting underground resources, with the aim of achieving return on investment. In this article the discount rate and the cost of rehandling of a mineral deposit hypothetical gold and copper is evaluated using the SIMSCHED DBS software. In turn a search for information, which can give clarity to the concepts with which you are working, is done. Based on the simulations performed with the two economic variables you can select the optimal net present value (NPV) for future flows.


2021 ◽  
Vol 6 (2) ◽  
pp. 114-120
Author(s):  
J. J. Z. Caixao

At present time,Mozambiqueis called the “Rising Star of South Africa” mainly due to the rapid development of its mining industry. Mineral resources sector ofMozambiqueis one of the most dynamically developing sectors of the country’s economy.China,BrazilandIndiahave recently become the main partners forMozambique. Recently, a number of projects is being implemented in the country, for example, Auroch Minerals Manica Gold in gold production. Increasing coal production is connected with commissioning of the Moatize open pit, which is being developed by Brazilian Vale Company, as well as Benga mining company owned by Indian ICVL consortium. The analysis of the extraction of certain mineral types inMozambiquepresented in the paper demonstrates general picture of mining industry development in the country. The analysis findings allow identifying the causes of negative phenomena in the industry, manifesting themselves in decreasing production of certain types of minerals. For instance, the main reasons for the decline in coal production were dropping labor productivity, deterioration of mining conditions, and depletion of the most accessible coal reserves, extractable by open pit mining. In this regard, development of underground mining methods providing for opening of deep deposits by vertical shaft sets is highly relevant. The experience of the neighboringRepublicofSouth Africashows that, in the mining and geological conditions of the south of the African continent, highspeed shaft sinking methods accelerating deposit development can be successfully applied.


Sign in / Sign up

Export Citation Format

Share Document