Mine Optimization

Mine Optimization

There are a lot of moving pieces when it comes to a mining operation. From crew members and operators to equipment and software, there’s a lot to keep up with, and all are interrelated. Therefore, it’s essentially not possible to change one thing without having to alter something else. That’s where mine optimization comes in.

For example, maybe the operation needs to adjust the level spacing of a specific mine site. The adjustment simply can’t be done without affecting the crew’s schedule, time software is being used and more. Mine optimization is the process in which every moving piece is accounted for when adjusting or observing another piece. It’s the process where digital mining solutions come to be put to full use.

What is Mine Optimization?

More specifically, mine optimization is an inherently iterative process that deems every facet of a mine operation interrelated, from scheduling to mine design. Nothing can be changed without considering every other variable in the mine, too.

The benefits of mine optimization are plentiful. It’s in the name – optimization of the mine. Smart manufacturing technologies can help further mine optimization. Some of the more common benefits of optimizing the mine show why it’s imperative for the connected enterprise to start optimizing now.

Overall, this type of optimization for the metals and mining industry works to maximize profitability through advanced technology, innovative engineering and respected expertise.

The Benefits of Optimizing the Mine

Industrial digital transformation to build a smart mine for your enterprise offers much more than mere mine optimization. Instead, an integrated approach also helps you increase productivity while minimizing production costs. You’ll ultimately maximize your profitability for the overall operation.

Closer collaboration through digital implementation ensures alignment with site objectives. Furthermore, and key when thinking of a sustainability future, is that mine optimization helps to minimize water and energy usage while maximizing waste used to create a more eco-friendly and environmentally efficient mining process.

The lifetime longevity of mine optimization also adds to its enticing lure for enterprises. Through key strategies and advanced algorithms, a company can determine the optimum revenue cut-off relationship, improve long-term mine planning, better accurately predict future performance, optimize blending and ore delivery strategies and much more. Using predictive maintenance software and other vital digital strategies helps to ensure the future of mining companies.

Mine Optimization as a Digital Initiative

We’ve known since the start of industry 4.0 that digital innovation will help further improve mining productivity. Nowadays, mining operators can gain much better knowledge of the overall project by combining online samplings and blast-hole drill data with ore-body model information for a fuller scope of the site.

Worldwide mining operations are over a quarter less productive today than they were even a decade ago. Existing mines are maturing, ore on the surface being extracted is of a lower grade than the start and there are longer haul distances from the mine face. New mine development times increase rapidly while ore-body-replacement rates continue to decline.

The mining industry must continue to advance with smart technology and tighter mine optimization to last in this next generation of industrial revolution. The digital age is upon us, and the mining industry has more virtual opportunities to improve numbers than ever before. Will the connected enterprise keep up with the demand for smart innovation and plant digitalization?

FAQs

What is a pit shell in mining?

In the mining industry, a pit shell is the defined area where the mining is to take place. Picture an inverted cone with the wide end at the surface and the point of the cone at the bottom – that’s a pit shell. A mining company will mark out an area and start digging down to get to the ore deposits below using this type of pit shell formation in the ground.

What is open-pit optimization?

Open-pit optimization is a concept and tool that can be used in an open-pit design to determine the most economical and environmentally friendly way to mine the ore body while still satisfying all operational and legal constraints. There are several types of open-pit mine optimization methods, the main two being stochastic and deterministic.

Stochastic optimization takes variability in input parameters into account, including the grade, haulage distance, etc., as well as the goal, which is to find the best solution that meets all constraints within a given confidence level or probability.

Why is pit optimization important?

Pit optimization determines the pit shell with the most attractive Net Present Value (NPV). One of the main goals of pit optimization is to find the pit that has the lowest cash cost and also meets production targets. In addition, a well-optimized pit allows for increased production and higher profits in the long term.

By finding the right pit shell through mine optimization, enterprises can save the most money and time while also ensuring their operations remain as profitable as possible.

What does FMS stand for in mining?

In the mining industry, FMS, or Fleet Management System, is a suite of specialized software applications that allow the supervision and administration of all mobile plants and equipment at the mine site.

The Fleet Management System coordinates and reports on the movement of all vehicles within the mine, allowing operators to better schedule maintenance work, fully optimize loading and haulage operations, manage safety procedures and track stock. The FMS can also interface with the PMS (Production Management Systems) to provide industrial data on forecasts, plans, schedules and more, which allows fleet managers to make more informed decisions with mine planning.