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A unique approach to maximizing NPV
A unique approach to maximizing NPV
Mine plan software plays a critical role in helping mining operations make strategic decisions based on complex and interrelated variables. By optimizing the sequence of extraction, processing routes, and resource allocation, companies can significantly improve efficiency, reduce waste, and adapt to economic and geological uncertainties.
While many tools approach this step-by-step, newer solutions are shifting toward integrated methods that consider all factors at once—making it easier to explore multiple scenarios and respond to changing conditions. This evolution in software is helping reshape how the industry approaches long-term value and operational flexibility.
Mine plan is more than just defining pit shells and sequences. It involves navigating a range of variables—geology, economics, processing capacity, and operational limitations. Traditional step-by-step methods often simplify this complexity, but they may miss more profitable alternatives or lead to infeasible schedules.
That’s where MiningMath comes in: by simultaneously considering multiple constraints and objectives, is can generate more flexible, realistic plans.
MiningMath was launched in 2013 with the goal of solving key inefficiencies in conventional mine plan. At the heart of its solution is a custom Branch & Cut algorithm, designed to optimize directly from the block model in a single step. This approach breaks away from sequential processes, offering a more integrated way to plan mines.
| Criteria | Traditional Technology | Modern Technology | MiningMath Single-Step Global Optimization |
|---|---|---|---|
Approach Summary | Follows sequential steps, first optimizing the final pit, then sequencing blocks. Often leads to suboptimal results due to constraints carried over from earlier stages. | Allows integrated sequencing by evaluating each block's potential to determine the best periods, but adaptation to changes is limited and only partially automated. | MiningMath enables global, single-step integrated sequencing, allowing fast scenario testing with automatic adjustments. It adapts to market changes and can boost operational gains by 10–25%. |
Flexibility in Finding Solutions | Limited. Processes can take days or hours and may not return a solution. | Flexibility is restricted by the staged process, where each step considers isolated aspects, narrowing the range of viable solutions. | MiningMath better explores the available solution space, considering all imposed constraints to find a wider range of varied solutions. |
Stages | Three sequential steps: (1) pit optimization using nested pits; (2) definition of pushbacks; and (3) bench sequencing based on the pushbacks. | Integrated optimization in stages. Facilitates permutations and manual adjustments that refine the results of each step. | Global optimization performed in a single step, with results derived directly from the block model. |
Algorithms | Most commonly used algorithms for different stages: Lerchs-Grossmann (LG), Pseudoflow, and general heuristic methods. | Most commonly used algorithms for different stages: Lerchs-Grossmann (LG), Pseudoflow, general heuristic methods, direct block scheduling, clustering algorithms, dynamic programming, among others. | Tackles open-pit sequencing challenges in an innovative, globally applied algorithm that uses Mixed-Integer Linear Programming formulation and linearization methods. |
Variety of Solutions | Low. Steps are always limited by the results of previous stages. | Medium. Each stage is influenced by the previous one, gradually building on earlier outcomes. | High. The single-step algorithm can identify a wider variety of solutions because it is not limited by any preceding stage. |
Geometric Constraints | Experienced mine planning engineers using empirical rules. | Experienced mine planning engineers using empirical rules. In general, the goal is to improve the design without significantly impacting NPV optimization. | Incorporates geometric constraints in the optimization, allowing users to define widths, lengths, advance rates, and mining areas. |
Cost Reduction: Optimize operations to reduce expenses.
Improved Efficiency: Automate planning to save time and reduce errors.
Better Decisions: Access real-time insights for smarter choices.
Scalable: Suitable for both small and large mining projects.
User-Friendly: Simple interface, even for complex optimization tasks.
Customizable: Tailored to your mining operations.
Expert Support: Comprehensive knowledge base and tutorials from our team.
Import your block model and validate your data.
Modeling: create scenarios and decision trees.
Optimization: run your scenarios. Analyse results and test different workflows.
Reporting: Use the reports to support decision-making.
With MiningMath’s single-step optimization engine, you can uncover opportunities that manual or stepwise planning might miss. Ultimately, this engine is able to optimize resource utilization and can improve project outcomes. Transform your mine planning process by leveraging MiningMath’s advantages and take your mining projects to new heights of efficiency and success!
Windows 64-Bit (x86_64) - 121 MB
Windows 64-Bit (x86_64) - 121 MB
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