Models of simulation in the making of decisions in the mining operation

Abstract

In open pit mining, the loading, unloading and hauling system can represent a high percentage of the operating cost. The objective of this document is to provide an overview of the different approaches in the application of simulation models as an alternative applied to open pit mining operations that can help in decision making to optimize resources. It talks about the different types of simulation models that can be applied in mining operations such as stochastic, deterministic and discrete events. The underlying idea of this text is to highlight that with the increase in competitiveness, mining companies are in need of using simulation techniques to reduce costs, time and risks when making decisions, since simulation allows the creation of scenarios that approximate reality. In the end, the document concludes that simulation models are a tool to help in decision-making, for the optimization of resources, increased improvement and efficiency of the processes of loading, transport and unloading in open pit mines.