Method, apparatus and computer program for scheduling the extraction of a resource and for determining the net present value of an extraction schedule
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United States of America Patent
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Dec 20, 2011
Grant Date -
Aug 9, 2007
app pub date -
Dec 14, 2006
filing date -
Jun 21, 2004
priority date (Note) -
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Abstract
The scheduling of extraction of a resource within a mine is disclosed which comprises obtaining drill hole grade data relating to the resource and creating a plurality of different block models, with each block in each model having a resource grade and each of the block models honoring the drill hole grade data. An extraction schedule is determined based on a cut-off grade policy to increase expected net present value of the mine. The cut-off grade policy can be a variable cut-off grade and the scheduling using the variable cut-off grade is converted from a non-linear representation to a linear representation and a mixed integer programming formulation is used for simultaneous optimization of the extraction schedule and the cut-off grade.
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