MiningMath

MiningMath

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Stockpiles

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Stockpiles are handled as a post-processing step in the optimization algorithm. After generating the mining surfaces, the algorithm reviews blocks initially discarded during the optimization process.

MiningMath evaluates whether the block’s net value (Revenue – Fixed Mining Cost – Rehandling Cost) exceeds the cost of discarding it, applying the appropriate discount rates of the extraction periods and of the processing periods. This means that stockpiles are effectively an optimization of blocks originally designated for the dump, potentially recovering additional value. As for selecting a block’s destination, MiningMath applies the same logic of maximizing project value. The software identifies which discarded blocks should be reclaimed to fill production shortfalls over time, ensuring optimal resource utilization. A diagram is depicted below summarizing the stockpile methodology.

To enable the stockpiles on the interface the first step is on the General tab where two inputs are required:

  1. Fixed Mining Cost: value used to decompose the economic value while considering stockpiles.

    This cost is essential because MiningMath uses this parameter when calculating economic values. It helps break down the block's value, allowing the algorithm to accurately account for costs incurred during mining and those applied during processing

  2. Rehandling Cost: represents the cost to reclaim blocks from the stockpile to the process.

    This cost is applied to break the economic values into parts and apply the discount rate at the time a block is processed.

After that, on the Destinations tab, you can define stockpile limits for each processing plant added, remembering that this limit is based on the life of mine, not in a period timeframe.

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