A method for integrated process simulation in the mining industry

Luis Felipe Riehs Camargo, Luis Henrique Rodrigues, Daniel Pacheco Lacerda and Fabio Sartori Piran

European Journal of Operational Research, 2018, vol. 264, issue 3, 1116-1129

Abstract: This paper proposes a method of Integrated Process Simulation (MIPS), which considers the dynamic, stochastic and systemic characteristics of mining operations to support investment decisions in this industry. This MIPS supports development of a Decision Support System (DSS) that considers product quality, process productivity and production costs. A case study is described that used the MIPS to make better investment decisions. The MIPS has proven, in practice, to be effective in several applications; for example, in defining the maintenance policy for critical equipment in an iron ore concentration plant; the process for removing impurities and simulating the company's budget to evaluate the viability of different business plans.

Keywords: O.R. in natural resources; Production; Simulation; Systems thinking (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:264:y:2018:i:3:p:1116-1129

DOI: 10.1016/j.ejor.2017.07.013

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