The formula at the heart (and mind) of mine plan optimisation

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This article was written by Snowden’s Global manager, Tarrant Elkington. It is easy to forget, or take-for-granted, the foundation elements for your area of expertise. The blog looks at patient zero for mine optimisation. I was in a meeting many years ago working through some optimisation mathematics on the whiteboard with some colleagues. It looked something like this – please don’t worry about the detail.  IV_a=UGDV_a-OPDV_a  UGDV_a=frac{r_a-h_u_g-m_u_g}{(1+d)^u^y}$  OPDV_a=max(frac{r_a-h_o_p}{(1+d)^o^y},0)+frac{v}{(1+d)^o^y}$ Midway through this review, my boss at the time saw one of our clients appear at a window and he jumped up, bringing him into the room. He pointed enthusiastically at the equations and said: “Look at this thing on the board…  this is going to be a … Read More