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.