THE PROJECT>

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ABOUT US

Research Project “Large scale optimization and uncertainty: Challenges in strategic mine planning, an interdisciplinary approach”. This is a three-year research endeavor that brings together applied mathematical scientists and engineers, with backgrounds in Operations Research, Geostatistics and Financial Economics, in a multi-disciplinary effort to advance the state of the art in Strategic Mine Planning through research, training and outreach. The project is based in Santiago, Chile, and is jointly administered by Universidad Adolfo Ibáñez, Universidad de Chile, Pontificia Universidad Católica de Chile, and Universidad Católica del Norte. The successful candidates will be working with project team members advancing the research goals of the project.

Project Background:

Strategic mine planning is a complex optimization problem made daunting both by geological and financial uncertainty (distribution of mineral resources over space and commodity prices and costs over time) and the scale of practical problems (amount of data and number of decisions involved). The tasks of creating a production schedule and modeling the inherent uncertainty are extremely challenging on their own. When addressed simultaneously, the difficulty is greatly compounded: decisions are affected by the outcomes of uncertainty, and conversely, the manner in which uncertainty is revealed depends on how decisions are made over time.

The research goal of the project is to create knowledge in Strategic Mine Planning by developing fundamental algorithms that quickly generate near-optimal production-scheduling solutions for real-sized problems, explicitly hedging against market and geological risks. To achieve this, the project seeks to develop new probabilistic models and methodologies for representing geological and financial uncertainty, new integer and dynamic programming algorithms for solving deterministic large-scale production-scheduling problems and new stochastic optimization methodologies for integrating geological and financial uncertainty into mine planning optimization problems. That is, the project seeks to combine techniques from Operations Research, Geostatistics and Financial Economics to develop an integrated approach to Strategic Mine Planning. This work will be validated on real mine planning problems obtained from a network of industry partners located both in Chile and abroad.


MISSION

Research Project “Large scale optimization and uncertainty: Challenges in strategic mine planning, an interdisciplinary approach”. This is a three-year research endeavor that brings together applied mathematical scientists and engineers, with backgrounds in Operations Research, Geostatistics and Financial Economics, in a multi-disciplinary effort to advance the state of the art in Strategic Mine Planning through research, training and outreach. The project is based in Santiago, Chile, and is jointly administered by Universidad Adolfo Ibáñez, Universidad de Chile, Pontificia Universidad Católica de Chile, and Universidad Católica del Norte. The successful candidates will be working with project team members advancing the research goals of the project.

Project Background:

Strategic mine planning is a complex optimization problem made daunting both by geological and financial uncertainty (distribution of mineral resources over space and commodity prices and costs over time) and the scale of practical problems (amount of data and number of decisions involved). The tasks of creating a production schedule and modeling the inherent uncertainty are extremely challenging on their own. When addressed simultaneously, the difficulty is greatly compounded: decisions are affected by the outcomes of uncertainty, and conversely, the manner in which uncertainty is revealed depends on how decisions are made over time.

The research goal of the project is to create knowledge in Strategic Mine Planning by developing fundamental algorithms that quickly generate near-optimal production-scheduling solutions for real-sized problems, explicitly hedging against market and geological risks. To achieve this, the project seeks to develop new probabilistic models and methodologies for representing geological and financial uncertainty, new integer and dynamic programming algorithms for solving deterministic large-scale production-scheduling problems and new stochastic optimization methodologies for integrating geological and financial uncertainty into mine planning optimization problems. That is, the project seeks to combine techniques from Operations Research, Geostatistics and Financial Economics to develop an integrated approach to Strategic Mine Planning. This work will be validated on real mine planning problems obtained from a network of industry partners located both in Chile and abroad.



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