To remain competitive in today’s challenging market, miners need to develop an integrated strategy for value creation as well as improve the coordination of operations planning across the resource supply chain.
Plans for mining, processing, logistics, and marketing are difficult to align with enterprise objectives if each planning activity is developed separately instead of holistically. In practice, supply chain optimisation is only achievable through integrated planning. By integrated planning, we mean coordinated planning of decisions between mining, processing, logistics, and sales. While the importance of integrated supply chain planning is recognised, its execution is difficult without the right tools to support this process.
BlendOpt is the first mathematical optimisation software tool that supports complete integrated planning of mining resource sales and supply chain strategies. Starting with a mine schedule, BlendOpt discovers strategies for how ore should be processed, blended, and allocated to different products or sales contracts with the objective of maximising profit. Mathematically optimised plans are created using predictive analytics algorithms that test millions of possible plans in search of the highest profit from the data provided.
Previous mining supply chain optimisation software has historically been unable to accurately model the problem and did not contain algorithmic techniques that could solve the integrated mine planning problem in a timely fashion. In addition, any results generated were difficult to analyse, thereby limiting what insights could be gained to inform improvements to a mine’s business strategy.