Optimization of open pit short- and long-range production scheduling

"A computer model has been developed which is capable of evaluating alternative production schedules (long- and short range) of an open pit mine once the ultimate pit limits have been defined. The model user can choose the best alternative according to cash flow considerations and the particular mining conditions. The model involves a combination of simulation for long range production scheduling and linear programming for short range scheduling. IntroductionMining of mineral deposits in such a fashion so that, at depletion the maximum possible profit is realized, has been a very old problem of the mineral industry. In the past, when high-grade ore reserves were readily available and profits were very high, no question of optimum profitability was raised.However, recently the complexity of both open pit and underground mining has been increased tremendously. The additional problems of continuously rising production costs on one hand and of depressed metal prices worldwide on the other, have been demanding optimum profitabiliy from every mining venture .Particularly in the area of open pit mining, the sequence of ore and waste extraction has now become very important since the size of the pits and of the mining equipment has increased enormously. The process of open pit mining involves a continuous change of the open pit surface and there are many feasible plans of extraction which lead to the same final pit shape (ultimate pit limits). Each of these feasible plans generates a production schedule over the entire mine life, which mayor may not be optimal."