MILP Production Scheduling Models for Evaluating Continuous Improvement Projects - SME Annual Meeting 2024

Mixed integer linear programming (MILP) production scheduling models can be used to evaluate if tonnage improvement projects will deliver value over all time periods and whether new bottlenecks will be created. These MILP models can evaluate the interconnected effects of mine and process capacities, mining locations, cutoff grades, stockpiles, and orebody grade/tonnage distributions. A case study compares potential value creation from a mine capacity increase, a mill capacity increase, or a simultaneous increase in all capacities. For perspective, project valuations for capacity increases are compared against valuations for cost reduction projects, mine planning improvements such as phase design, dynamic cutoff grades and stockpiling, and the impact of geostatistics improvements in the areas of block model accuracy and ore control selectivity.