Uncertainty and Risk Quantifying Optimistion for Open Pit Mine Design and Production Scheduling. Open pit mine design and production scheduling (OPDPS) deals with the management of cash flows in the order of hundreds of millions of dollars, and is a critical aspect of mining ventures. To enhance decision-making under conditions of uncertainty, this proposal aims to develop a new methodology for OPDPS based on mathematical and statistical techniques which model uncertainty in key parameters, geol ....Uncertainty and Risk Quantifying Optimistion for Open Pit Mine Design and Production Scheduling. Open pit mine design and production scheduling (OPDPS) deals with the management of cash flows in the order of hundreds of millions of dollars, and is a critical aspect of mining ventures. To enhance decision-making under conditions of uncertainty, this proposal aims to develop a new methodology for OPDPS based on mathematical and statistical techniques which model uncertainty in key parameters, geological, mining and market/cost and their effects on economic forecasts. The new formulation is founded on stochastic integer programming, and its integration with spatial stochastic simulations of geological attributes. Methods developed are computerised and tested in field studies.Read moreRead less