Review of mathematical models applied in open-pit mining

Abstract

Mining is the art of extraction of material from the earth surface for profit. The main objective of mining companies is to maximize net present value (NPV) while considering health, safety and environmental issues. Revolution in the mining industry has seen mathematical modelling being the key component in improving the mining process. Mining models has been proven as the next frontier that needs all the focus it can get. There are three mining stages namely: mining or extraction, processing and refining involved in this exercise. The major optimisation problems found in surface mining operations are ultimate pit limit problem, cut-off grade optimisation and open pit production scheduling. In order to maximise the output from the three mining stages, there is need to apply mathematical equations and models to optimise the whole process. There are extensive research studies since 1960s on development of mathematical models optimising mining operations. However, the mining industry has not fully appreciated and applied all these optimisation models. This paper highlights the strides made in development of mathematical models in the mining industry and their application. It discusses ways in which the mining industry can increase the application of these models to improve the output generated from the mining projects.