TY - GEN
T1 - Optimizing the number of open pit mine push backs
AU - Rezaee, M.
AU - Osanloo, M.
AU - Honaker, R. Q.
PY - 2012
Y1 - 2012
N2 - Push backs used in the production planning of open pit mines play an integral role in generating annual cash flow. Although several algorithms for push back designs have been proposed, none have studied the optimum number of push backs. In this paper, different algorithms have been implemented for the push back design of a cross section of a copper deposit and the results discussed. Moreover, the optimum number of push backs has been determined using analytical and multiple attribute decision making (MADM) methods based on minimizing the risk associated with grade uncertainty, and minimizing stripping ratio, while maximizing net present value (NPV). According to the findings, the optimum number of push backs has been proposed to be between three and six, as lower quantities of push backs are more likely to achieve the calculated net present value, and have smoother stripping ratios for different pushbacks. This approach was examined in an operating mine and the optimum number of push backs determined to be four.
AB - Push backs used in the production planning of open pit mines play an integral role in generating annual cash flow. Although several algorithms for push back designs have been proposed, none have studied the optimum number of push backs. In this paper, different algorithms have been implemented for the push back design of a cross section of a copper deposit and the results discussed. Moreover, the optimum number of push backs has been determined using analytical and multiple attribute decision making (MADM) methods based on minimizing the risk associated with grade uncertainty, and minimizing stripping ratio, while maximizing net present value (NPV). According to the findings, the optimum number of push backs has been proposed to be between three and six, as lower quantities of push backs are more likely to achieve the calculated net present value, and have smoother stripping ratios for different pushbacks. This approach was examined in an operating mine and the optimum number of push backs determined to be four.
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M3 - Conference contribution
AN - SCOPUS:84866007503
SN - 9781622760893
T3 - 2012 SME Annual Meeting and Exhibit 2012, SME 2012, Meeting Preprints
SP - 687
EP - 694
BT - 2012 SME Annual Meeting and Exhibit 2012, SME 2012, Meeting Preprints
T2 - 2012 SME Annual Meeting and Exhibit 2012, SME 2012
Y2 - 19 February 2012 through 22 February 2012
ER -