A Dynamic Programming Based Algorithm For Optimum Production Planning In Open Pit Mines

In a recently developed long term open pit production planning model, the optimum plan is found by exhaustively searching through nested pits of maximum-metal contents. A more efficient, dynamic programming (DP) based search algorithm now replaces the exhaustive search algorithm which was requiring prohibitively long execution time in real life cases. The logic and the formulation of the newly developed search algorithm are illustrated through a small hypothetical case. A real life gold deposit is treated to demonstrate that the algorithm does indeed find the optimum production plan among all possible plans. A comparison, in terms of computational savings between the two algorithms is also given.