Single Time Period Production Scheduling Of Open Pit Mines (3736cb10-095f-46ee-a137-a07c346bda00)

Production scheduling of an open-pit mine is one of the most important steps in open-pit mining. The production schedule of a mine defines the distribution of cash flows and as a result directly influences the net present value (NPV) and overall economic feasibility of a project. Although the need to plan and operate a mine with an optimum production schedule has been obvious for some time, the methods used to obtain such a schedule have not been. The current practice for doing is to do it by hand on the basis of trial and error analysis. In an attempt to improve the way production scheduling is currently done, a new computer based production scheduling algorithm is developed. This paper describes the fundamentals of this newly developed heuristic scheduling algorithm and its application on a gold deposit. The results coming from a case study show that the schedules based on the new method provides improved cash flows compare to a manually done production schedules.