Grade uncertainty embedded in long term scheduling: Stochastic mine planning

The inclusion of grade uncertainty for multivariate mineral deposits is of great importance for the correct management of subsequent decisions involved in mining planning. Mapping grade uncertainties allows maximization of profit and resource extraction. In this article, the co-simulation turning band algorithm is applied with the aim of predicting multivariate grade uncertainties. Moreover, a probabilistic analysis in long term mining sequencing is proposed in order to select the best given grade scheduling uncertainty derived from the simulations. A case study in a phosphate mine shows that the correlation of co-simulated variables honors the original data and there is an improvement in the project by an increase in Net Present Value (NPV) planning considering grade uncertainties. A comparison is performed with the results derived from the selected schedule and the results using the model based on kriged grades.