A method for integrated process simulation in the mining industry
2018
This paper proposes a method of Integrated Process Simulation (MIPS), which considers the dynamic, stochastic and systemic characteristics of mining operations to support investment decisions in this industry. This MIPS supports development of a Decision Support System (DSS) that considers product quality, process productivity and production costs. A case study is described that used the MIPS to make better investment decisions. The MIPS has proven, in practice, to be effective in several applications; for example, in defining the maintenance policy for critical equipment in an iron ore concentration plant; the process for removing impurities and simulating the company's budget to evaluate the viability of different business plans.
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