Pit Optimisation: Benefits in review

Pit optimisation is a quick and cost effective way of narrowing down options and evaluating various strategies. The optimisation process has the following benefits/capabilities:

  • Easily able to evaluate using the current geologic model
  • Quickly able to apply aggregation, loss and dilution
  • Can apply complex geotechnical constraints
  • Evaluation of various mining, feed, processing and product rates is possible
  • Determines an NPV rather than a cash flow
  • The NPV is based on a full mine schedule scenario
  • Can run multiple scenarios in parallel
  • On the fly reserving of each optimisation scenario
  • Risk sensitivity modelling
  • The ability to determine the optimal basal seam, Pit Limits and transition to underground

In a recent project MEC ran multiple pit optimisation scenarios for a Russian coal mine to allow the client to decide on a final go ahead case for detailed design and scheduling. This allowed the project to focus their time and effort on strategic issues and quickly move from concept to implementation.