A heuristic algorithm to determine ultimate outline of open pit mines with net present value maximization

Q: How can I download an article?

To download an article from SID, first log in to the site, search for the article title, and click on the 'Download Article' option.

Q: How can I download an ISI article?

To download an ISI article on SID, enter the keyword or article title in the search bar, view the relevant results, click on the desired article, and select the 'Download Article' option.

Q: How can I access the SID database?

To access the SID database, visit SID.ir, create an account, and log in to access scientific resources.

Q: Is downloading articles from SID free?

Some articles on SID are available for free, while others require payment. Details are specified on the article's page.

Saleki Meisam; Kakaie Reza; ATAEI MOHAMMAD

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

Journal Paper

Paper Information

Journal: JOURNAL OF ANALYTICAL AND NUMERICAL METHODS IN MINING ENGINEERING Year:2020 | Volume:10 | Issue:22 Page(s): 1-13

Download Full-Text

Persian Verion

View:

486

Download:

Cites:

Information Journal Paper

Title

A heuristic algorithm to determine ultimate outline of open pit mines with net present value maximization

Author(s)

Saleki Meisam | Kakaie Reza | ATAEI MOHAMMAD | Issue Writer Certificate

Keywords

Open pit mine

Ultimate pit limit

Net Present Value

Binary Programming

Optimization

Heuristic algorithm

Abstract

SummaryThe aim of this paper is to present a new algorithm to determine ultimate pit outline and mining sequence simultaneously based on the maximization of the Net Present Value (NPV). For this purpose, a nonlinear binary mathematical model was established and then a Heuristic algorithm was developed to solve this NP-Hard problem. IntroductionThe Ultimate pit limit is an important problem which is determined by maximization of undiscounted profit or NPV. The floating cone algorithm and its modified versions, Korobov algorithm, Lerchs-Grossman method and maximal flow algorithm were developed to generate Ultimate pit limit based on the maximization of the undiscounted profit. Nevertheless, it is better to determine the pit outline based on the maximization of NPV. To achieve this goal some algorithms like Wang-Sevim, Latorre-Golosinski and Roman were established. Methodology and ApproachesThe binary and nonlinear mathematical model to determine the Ultimate pit limit on the basis of maximizing NPV and a few suggestions for its linearization were presented. Afterwards, by defining the concepts of downward cone, positional weight and nearest ore index, a Heuristic algorithm was developed to determine the Ultimate pit limit and mining sequence all together. Results and ConclusionsThe algorithm was applied for 2D and 3D block models and the results showed that it is able to produce optimum outcome. Complexity of the algorithm is low and easy to use and as well as for education purpose. It is also able to consider variable slopes and grade-based constraints for production planning in the algorithm.

Cites

No record.

References

No record.

Cite

APA: Copy

Saleki, Meisam, Kakaie, Reza, & ATAEI, MOHAMMAD. (2020). A heuristic algorithm to determine ultimate outline of open pit mines with net present value maximization. JOURNAL OF ANALYTICAL AND NUMERICAL METHODS IN MINING ENGINEERING, 10(22 ), 1-13. SID. https://sid.ir/paper/385174/en

Vancouver: Copy

Saleki Meisam, Kakaie Reza, ATAEI MOHAMMAD. A heuristic algorithm to determine ultimate outline of open pit mines with net present value maximization. JOURNAL OF ANALYTICAL AND NUMERICAL METHODS IN MINING ENGINEERING[Internet]. 2020;10(22 ):1-13. Available from: https://sid.ir/paper/385174/en

IEEE: Copy

Meisam Saleki, Reza Kakaie, and MOHAMMAD ATAEI, “A heuristic algorithm to determine ultimate outline of open pit mines with net present value maximization,” JOURNAL OF ANALYTICAL AND NUMERICAL METHODS IN MINING ENGINEERING, vol. 10, no. 22 , pp. 1–13, 2020, [Online]. Available: https://sid.ir/paper/385174/en

Related Journal Papers

No record.

Related Seminar Papers

No record.

Related Plans

No record.

Recommended Workshops