Beyond optimization in open pit design
Abstract
A method for reducing the number of economic variables involved in open pit design to one major and one minor factor is presented. It is shown that a family of optimal open pits can be generated for a range of values of the major factor. This permits the rapid production of mining schedules and discounted cash flows for a range of economic scenarios, and thus facilitates rational risk analysis in the choice of the best pit. An example is given.
Fields of Study & Subjects
Mining Techniques and Economics
Geomechanics and Mining Engineering
Optimization and Mathematical Programming
Publication details
- Journal / source
- CRC Press eBooks
- Pages
- 331–338
- Publication date
- 13 February 2026
- Language
- EN
- Document type
- Book chapter