Adopting a multi-variate approach

From an investors point of view, the mining industry is an investment opportunity with outcomes which are based on highly speculative or sensitive variables.

It is known for having volatile commodity price cycles, limited orebody knowledge and requiring large capital investments, that are mostly inflexible once committed.

The primary goal of a mining operation is to maximise shareholder benefit by extracting the most value out of an ore body. To effectively do this, it is critical to ensure the fundamentals which are developed are fit for purpose for the size and shape of the orebody (i.e. mining fleet size, plant capacity and product.)

Conventional mine planning methods use deterministic values for uncertainties and static system configurations. By adopting a multi-variate approach which integrates uncertainties and design options into the optimisation process, a more flexible and valuable outcome could be expected than that of which conventional methods are likely to achieve.

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