A Mathematical Approach to Flexible Management of Open Pit Mines with Uncertain Geology and Unpredictable Demand

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This project will create new mathematical algorithms to flexibly manage open pit mining projects. The development of strategic plans for mining operations is a highly complex task, based on incomplete geological information and uncertain future commodity demand. The smart mathematics we create will allow Australia to capitalise on upturns in international demand, while limiting unavoidable negative outcomes, by flexibly adjusting the mining operation to prevailing geological and economic conditions. Australia's mineral exports are worth over $50b annually to the Australian economy. Our techniques will better manage Australia's mining projects and capture new, emerging markets, significantly impacting on Australia's balance of trade.