Use Of An Interactive Dynamic Program System As An Aid To Mine Valuation

The economic environment of mining is particular and requires special methods for seeking the economic optimization of mining and guiding the construction of logical production planning systems. An interactive program system which generates sequences of mining rates and cutoff grades, using as it's core an open-ended dynamic programming algorithm, is described. The program system is built not with the aim of obtaining a single mathematical optimum, but on the concept of satisfying the mine planner by producing several alternative mine plans and testing various schedules under conditions of uncertainty.