Integrated Mine Planning and Evaluation
The Integrated Mine Planning & Evaluation project aims to create innovative new methods for resource evaluation which may replace the traditional methods currently in use. Existing methods are static and ignore the multi-dimensional complexity of resource valuation problems. The program will create user friendly tools to simplify complex decision making and attach value to decisions in a rational way.
Integrated Evaluation
The Integrated Evaluation project "Integrated Mining Project Evaluation in a Risk Framework: Faster and Robust Decision-making” is the CRC in microcosm: it considers evaluation of mine projects in the presence of multiple capital and operational alternatives, linking with large geometallurgical data sets. Challenges include reconciling and simplifying data sampled with different density and support; accelerating computation of planning options; subjecting mine plans to externalities, such as market price for metal; and obtaining robust evaluations of alternative plans.
The Integrated Evaluation project will generate accounting “maps” to integrate risk measurement, forecasting and cost drivers into real options for mine managers. Research is investigating the dynamic nature of risk and forecasting by introducing a new approach addressing spatial and temporal variation: Dynamic NPV. This model will increase the accuracy and usefulness of data and enable valuation of decisions and their consequences.
Multi-attribute 3D Block Models
Multi-attribute 3D Block Models build on the characterisation methods developed in the Coarse Liberation Circuits project to create advanced conditional simulations that go beyond mean (average) valuation. Sophisticated dependence structures integrate energy, cost and decision maps to provide a more precise account of probabilities. This is particularly important for lower value ores, where inaccuracies in characterisation may lead to the extraction of economically unviable material.
These geotechnical block models assess risk holistically, examining all sources of risk to develop scenario probabilities derived from sequential events. Software platforms will apply these models to make them user friendly, enabling mine managers to assess risk during regular decision making processes.
Mine Planning Optimisation
Mine planning optimisation uses short term scheduling models to allocate ore feed to multiple plants in the most efficient way possible. This may include separating feed by fragmentation size, distributing fines to SAG (Semi-Autonomous Grinding) mills while directing coarser feed to HPGR (High Pressure Grinding Rolls) mills. Mine planning optimisation adds significant value to the GeM models by highlighting areas of opportunity and risk in scheduling processes.