Dynamic Pit Tracker: An Iterative Heuristic Algorithm Tracing Optimized Solution for Ultimate Pit Limit and Blocks Sequencing Problem

One of the most critical designs in open-pit mining is the ultimate pit limit (UPL). The UPL is frequently computed initially through profit-maximizing algorithms like the Lerchs-Grossman (LG). Then, in order to optimize net present value (NPV), production planning is executed for the blocks that fall within the designated pit limit. This paper presents a mathematical model of the UPL with NPV maximization, enabling simultaneous determination of the UPL and long-term production planning. Model behavior is nonlinear. Thus, in order to achieve model linearization, the model has been partitioned into two linear sub-problems. The procedure facilitates the model solution and the strategy by decreasing the number of decision variables. Naturally, the model is NP-Hard. As a result, in order to address the issue, the Dynamic Pit Tracker (DPT) heuristic algorithm was devised, accepting economic block models as input. A comparison is made between the economic values and positional weights of blocks throughout the steps in order to identify the most appropriate block. The outcomes of the mathematical model, LG, and Latorre-Golosinski (LAGO) algorithms were assessed in relation to the DPT on a two-dimensional block model. Comparative analysis revealed that the UPLs generated by these algorithms are consistent in this instance. Utilizing the new algorithm to determine UPL for a 3D block model revealed that the final pit profit matched LG UPL by 97.95%.