Dynamic Cut-off Grade Strategy Optimizer

GeoMine OptimCut  (OptimCut) is a dynamic cut-off grade and production rate schedule optimizer. Given a set of nested pits or a stope design, a user-defined dollar formula (expressed as a function of metal price, recovery, fixed and/or variable costs of mining, processing, transportation and refinery. etc.), OptimCut finds N-best yearly cut-off grade and production rate policies (strategies), each of which maximizes NPV over the life of the mine while respecting the precedence constraint using a Constrained Dynamic Programming algorithm based on the Principle of Optimality. The output of OptimCut is a set of Life-Of-Mine schedules with optional stockpile strategies. Each schedule is ideally suited for strategic mine planning and can also be used as input to iScheduler for subsequent production scheduling.

Compared to most other commercial cut-off grade optimizers which only allows the resulting cut-off grade to vary over time (mining periods), OptimCut allows the resulting cut-off grade to vary both over time (mining periods) and in space (mining zones), resulting in much more realistic cut-off grade policies.

OptimCut is also an ideal tool for investment firms that require extensive financial studies beyond basic due diligence analysis on any mining project.

OptimCut Key Benefits

  • Powerful: create realistic cut-off grade and production rate policies that not only vary over time (mining periods), but also vary in space (mining zones), while obeying the geometric and precedence constraints between the mining zones.
  • Scalable: multi-threaded implementation utilizes all available CPU cores to speed up calculations for large projects.
  • Flexible: ability to define your own custom dollar formulae to adapt to different mining scenarios and to create optional automatic stockpiling policies.
  • Easy to use: seamless workflow within the integrated GeoMine workspace that allows you to compare and contrast multiple strategies side-by-side.

Determines the optimal yearly cut-off grade and production rates that maximize the Net Present Value (NPV) throughout your entire mine-mill life with a choice of N-best solutions.

Offers both standard and constrained optimization modes with stockpile option and multi-mineral handling.

Fully integrated with FlowPit, Stopemizer and Cavemizer for cut-off grade optimisation and stockpile utilization.

The results can be directly used for preliminary project evaluation or used as input to the iScheduler-OP or iScheduler-UG to create optimal LOM schedules.

Ability to define and customize the dollar formula (expressed as a function of metal price, recovery, fixed and/or variable costs of mining, processing and refinery. etc.) to account for multi-minerals and real-life mining constraints.

System Requirements:

CPU: Quad Core
RAM: 8 Gb

*Graphics performance may be lower on a NVidia graphics card.

CPU: 3rd Gen i7 or Up
RAM: 16 Gb