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
OptimCut Feature List
Determines the optimal yearly cut-off grade and production rates
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
Offers both standard and constrained optimization modes with stockpile option and multi-mineral handling.
Fully integrated with FlowPit, Stopemizer and Cavemizer
Fully integrated with FlowPit, Stopemizer and Cavemizer for cut-off grade optimisation and stockpile utilization.
Ideal for feasibility study or used as an input generator for iScheduler
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
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.