Strategic mining options optimization:Open pit mining,underground mining or both |
| |
| Affiliation: | 1. Bharti School of Engineering, Laurentian University, Sudbury P3E 2C6, Canada;2. Mining Department, Snowden Mining Industry Consultants, Perth, WA 6004, Australia;3. School of Mining and Petroleum Engineering, University of Alberta, Edmonton T6G 2R3, Canada;1. Department of Mining Engineering, Science and Research Branch, Islamic Azad University, Tehran 1477893855, Iran;2. Faculty of Mining, Metallurgy and Petroleum Engineering, Amir Kabir University of Technology, Tehran 158754413, Iran;3. Department of Petroleum and Mining Engineering, Shahid Bahonar University of Kerman, Kerman 7616914111, Iran;1. Department of Civil and Environmental Engineering, School of Mining and Petroleum Engineering, University of Alberta, Edmonton AB T6G 2R3, Canada;2. School of Engineering, University of British Columbia, Kelowna BC V1V 1V7, Canada;1. Division of Economics and Business, Colorado School of Mines, Golden, CO 80401, United States;2. Department of Mechanical Engineering, Colorado School of Mines, Golden, CO 80401, United States |
| |
| Abstract: | Near-surface deposits that extend to considerable depths are often amenable to both open pit mining and/or underground mining. This paper investigates the strategy of mining options for an orebody using a Mixed Integer Linear Programming(MILP) optimization framework. The MILP formulation maximizes the Net Present Value(NPV) of the reserve when extracted with(i) open pit mining,(ii) underground mining, and(iii) concurrent open pit and underground mining. Comparatively, implementing open pit mining generates a higher NPV than underground mining. However considering the investment required for these mining options, underground mining generates a better return on investment than open pit mining. Also, in the concurrent open pit and underground mining scenario, the optimizer prefers extracting blocks using open pit mining. Although the underground mine could access ore sooner, the mining cost differential for open pit mining is more than compensated for by the discounting benefits associated with earlier underground mining. |
| |
| Keywords: | Mining options optimization Open pit Underground Concurrent Open stope Mixed Integer Linear Programming (MILP) |
| 本文献已被 CNKI ScienceDirect 等数据库收录！ |
|
