Developing New Global Stochastic Optimization and High-order Stochastic Models for Optimizing Mining Complexes under Uncertainty

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Modelling and optimization techniques have become a standard core aspect of mine design and production scheduling(MDPS) because they maximize the economic value contributed by ore production from a mine and define a technical plan to be followed from a mine's development to its closure. MDPS optimization is a complex problem to address due to its large scale, the unavailability of a truly optimal net present value (NPV) solution, uncertainty in the key parameters involved (geological/mining, financial, environmental) and the absence of a method for global or simultaneous optimization of the individual elements of a mining complex. Over the past several years, developments in stochastic methods that integrate and manage uncertainty in MDPS, in particular geological uncertainty, show substantial increases in NPV and metal production. To take these developments to the next level, research efforts need to focus on developing optimization that integrates uncertainty in a global sense and simultaneously consider all elements of a mining complex. .