Robustness price of open-pit mine production scheduling

An Open-Pit Production Scheduling (OPPS) problem focuses on specifying block production scheduling to achieve the highest possible Net Present Value (NPV). This paper presents a new mathematical model for OPPS under uncertainty. To this end, a robust box and ellipsoidal counterpart approach was used. The proposed method was implemented in a hypothetical model. A Genetic Algorithm (GA) and an exact mathematical modeling approach were used to solve the model. It was shown that the scheduling of deterministic and robust models in various conditions is different. Considering the type of robust counterparts, different production plans under various conditions were scheduled. Furthermore, the price of robustness was determined for various levels of conservation.