Probability of Achieving Certain Economic Outcomes (Summit); New Mine Design Technologies
Contact sales@dataminesoftware.com to enquire about Datamine software solutions.
4. Studio NPVS
The Life of Mine Open Pit Planning solution with the functionalities of a
general mining package.
Optimisation
CAD Package
5. Summit Platform
Summit is a web based platform for
delivering Datamine’s next generation of
geological modelling and mine planning
solutions
Development is initially focussed on four
solutions:
• Strategic Open Pit Planning
• Resource Estimation
• Underground Stope Optimisation
• Geological Database Reporting
7. Summit: Strategic Open Pit Planning
• Sensitivity Analysis
Quickly determine the main drivers of a project
• Simulation
Investigate the probability of certain outcomes using
probabilistic risk analysis
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Datamine’s Summit platform uses high performance computing
for strategic analysis
Summit enables you to carry out studies in days rather than
months to discover information about your projects that would
previously have been undetected
8. 5
Summit: Sensitivity Analysis Example
For each input variable produce a set of ultimate pit
designs that correspond to the variable’s possible
input values whilst keeping all other variables at their
base case value
For example to determine the sensitivity to Mining
Cost:
•Keep Metal Price, Mill Processing Cost and Slope
Angles at base case values
•Produce 9 designs for each value of Mining Cost
Then repeat for Mill Processing Cost and the other
variables
In this example, with only 4 input variables, 33
ultimate pits are generated
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A Platform is required to manage the data, make use of
multiple computers and produce management reports in an
acceptable time frame
10. Summit: Simulation Analysis
Simulation analysis can be used to determine the resilience of a plan to
variations in expected conditions
Each variable is provided with a probability distribution
The distribution may be specified in alternative ways (e.g. normal, triangular
distribution)
In this illustration a probability has been assigned to each of the variable
values from which a distribution is inferred
The sum of the probabilities for each variable is 1
From this data, using the probability distributions and Monte Carlo simulation,
a large number of cases are generated, each of which uses a mix of variable
values. (Unlike sensitivity cases where the value of only one variable changes
per case)
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A probability
distribution is assigned
to each variable
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12. With a sufficient number of simulations it is possible to
understand the probability of achieving certain
outcomes
Probability of achieving certain outcomes can be investigated
There is a 90% probability that the Recovered Copper will be greater than
163,000 t.
Probability of the NPV being between $100M and $150M is 78.8%
Probability of the NPV being less than $100M is 10.4%
Probability of the NPV being greater than $150M is 10.8%
Probability of the NPV being between $110M and $140M is 50.6%
Probability of the NPV being less than $110M is 31.1%
Probability of the NPV being greater than $140M is 18.4%
Probability of Rec. Cu being between 162,000 t and 172,000 t is 78.9%
Probability of Rec. Cu being less than 162,000 t is 6.5%
Probability of Rec. Cu being greater than 172,000 t is 14.5%
Summit: Simulation Analysis