(Kitco News) - KPI Mining wants to innovate mine planning, said Benny Cohen, president of KPI Mining.
Last week Cohen spoke to Kitco Mining.
KPI Mining is focused on advancing mine planning, scheduling, and design. Stochastic optimization allows mine operators to conduct strategic mine planning, scheduling, and design, identifying value drivers and bottlenecks in the mineral value chain. The company leverages geostatistical simulations of mineral deposits to quantify the risk of yearly production forecasts.
Cohen said that new technique is more of a catch up for the mining sector.
"The whole process is completely different from what they've been used to over the last 20 to 30 years," said Cohen. "The interesting thing is that the stochastic mine planning concept has been used in the oil and gas industry for the last hundred years. Now we're bringing it to the mining sector."
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