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Multivariate Sensitivity Analysis

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Multivariate Sensitivity Analysis is the process of creating and analyzing scenarios based on a range of possible values for selected constraints. Analyzing the impact of constraints variations is important for determining the optimal mine configuration and for optimizing productivity and profitability.

In Multivariate Sensitivity Analysis, scenarios are created gradually increasing or gradually decreasing the values of the constraints within a desired range, covering all combinations of values. This allows users to have a comprehensive view of the impact of combinations of constraint values on the project’s performance.

Considering the nature of global optimization and the nonlinearity of the problem, it is expected that there will be variations in performance as certain parameter values are modified. Therefore, it is crucial to generate a large number of scenarios to obtain a comprehensive analysis of the impact of these variations on the project.

Example

Dataset: Preinstalled Marvin deposit. It can also be downloaded here.

Consider the base scenario overview and the respective decision tree built for a Multivariate Sensitivity Analysis depicted below.

Base scenario for Multivariate Sensitivity Analysis using the Marvin dataset

Results are depicted below. Note how a diverse range of cumulative NPVs is reported when compared to the Base scenario. Also not how certain productions are more stable than others, demonstrating the importance of performing a Multivariate Sensitivity Analysis.

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