Production Schedules for Different Ore Production Rates – Production Schedules

Production scheduling, along with production planning, provides projections of future mining progress and time requirements for the development and extraction of a resource. These schedules and plans are used by management as a means of attaining the following objectives (1) maintaining or maximizing expected profit, (2) determining future investment in mining, (3) optimizing return on investment, (4) evaluating alternative Investments, and (5) conserving and developing owned resources. The first four goals are generally concerned with mining costs, both capital and operating requirements, and as such, play an important role in production planning. However, this chapter is concerned with the fifth management objective of resource development in order to conserve and perpetuate the corporate entity. The following discussion is based on the premise that detailed economic evaluations and market surveys have been performed and analyzed and that the results indi¬cate a viable project.