A method that optimizes mining complexes that are comprised of multiple processing destinations, open pits and underground operations is presented. Mining, blending, processing and transportation decision variables are simultaneously optimized while accounting for geological uncertainty. The method uses a simulated annealing algorithm at different decision levels to generate a stochastic-based extraction sequence and processing policies. A case study shows its ability to generate a higher net present value while facing a reduced amount of risk when compared to traditional optimization methods.
Published September 2015 , 20 pages