Managing Geologic Uncertainty in Pit Shell Optimization Using a Heuristic Algorithm and Stochastic Dominance
| Autor: | Jeff B. Boisvert, T. Acorn, Oy Leuangthong |
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| Rok vydání: | 2020 |
| Předmět: |
Mathematical optimization
Economic uncertainty Heuristic (computer science) Stochastic modelling Mechanical Engineering Shell (computing) 0211 other engineering and technologies Metals and Alloys Efficient frontier Stochastic dominance 02 engineering and technology General Chemistry Geotechnical Engineering and Engineering Geology Set (abstract data type) Variable (computer science) Control and Systems Engineering Materials Chemistry 021102 mining & metallurgy |
| Zdroj: | Mining, Metallurgy & Exploration. 37:375-386 |
| ISSN: | 2524-3470 2524-3462 |
| Popis: | Optimizing final pit limits for stochastic models provides access to geologic and economic uncertainty in the pit optimization stages of a mining project. This paper presents an approach for optimizing final pit limits for a highly variable and geologically complex gold deposit. A heuristic pit optimizer is used to manage the effect of geological uncertainty in the resources within a pit shell with multiple uncertainty rated solutions. The uncertainty rated pit shells follow the mean-variance criterion to approximate the efficient frontier for final pit limits. Stochastic dominance rules are then used in a risk management framework to further eliminate sub-optimal solutions along the efficient frontier. This results in a smaller set of final pit shells that could be further analyzed for production scheduling. Additionally, the original solutions are analyzed for changes in the mining limits and two regions are targeted as potential regions for further exploration. |
| Databáze: | OpenAIRE |
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