Optimal production strategy of bimetallic deposits under technical and economic uncertainties using stochastic chance-constrained programming

In order to catch up with reality, all the macro-decisions related to long-term mining production planning must be made simultaneously and under uncertain conditions of determinant parameters. By taking advantage of the chance-constrained programming, this paper presents a stochastic model to create an optimal strategy for producing bimetallic deposit open-pit mines under certain and uncertain conditions. The uncertainties of grade, price per product, and capacities of the various stages in the process of production of the final product were considered. The results of solving the deterministic and stochastic models showed that the stochastic model had a greater compatibility and performance than the other ones.

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