One of the most fundamental problems in a mining operation is how to recognise an optimum cut-off grade, which defines the grade for discriminating between ore and waste in an ore body, including ore that is extracted...
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One of the most fundamental problems in a mining operation is how to recognise an optimum cut-off grade, which defines the grade for discriminating between ore and waste in an ore body, including ore that is extracted at different periods over a mine life period. Therefore, the identification of an optimised cut-off grade (COG) is a crucial function which has to be monitored during the mine life. The main aim of this study is to propose a modified optimum COG model in order to maximise the profit value (PV) for mining projects. Maximising the PV of a mining operation, which is a non-linear programming, is subject to different constraints involving a general grade distribution within a deposit and three stages of production namely mining, concentrating and refining. The proposed computer-based model is more effective in long-term planning of the open pit mines. To provide a better understanding of the algorithm efficiency, a numerical example is given and subsequently solved based on the lane algorithm. In order to achieve this, the LINGO software was employed.
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