March 17, 2021 – Ottawa: ThreeDify is excited to announce Stochastic Pit Optimization Option’s general availability in our ultra-fast pit optimizer GeoMine-FlowPit module.
Stochastic Pit Optimization expects a group of block model realizations as input. It allows mine planners to quantify geological uncertainty and risk inherent in any mineral resources project with just a single pit optimization run.
A stochastic pit optimization run result is displayed as a composite plot where the X-axis is the number of Block Model Realizations; the Y-axis represents multiple corresponding values, i.e., Profit, Ore Tonnage, Waste Tonnage, and Metal Quantity. The available statistics for each value include total, average, variance, and standard deviation. These statistics provide much more insight into the project being evaluated than a single average typically offered by a single deterministic pit optimization run.
To learn more or request a live demo for the Stochastic Pit Optimization, please Contact ThreeDify.