MiningMath Modules

MiningMath: Products & Services

MiningMath's products comprise three different software modules named MiningMath DEMO, MiningMath LITE, and MiningMath FULL as well as custom services to fulfill particular needs of our customers.

MiningMath DEMO

MiningMath DEMO allows you to learn, practice, and demonstrate the concepts of Strategy Optimization using the full capabilities of MiningMath's mathematical intelligence with sample data. This version is freely available to mining professionals, researchers, and students.

MiningMath LITE

MiningMath LITE allows you to maximize the NPV while cut-off policy is an optimized output for each set of assumptions evaluated. This version is suited to give you a project overview faster in order to consolidate the initial understanding of the mining development.

MiningMath FULL

MiningMath FULL also maximizes the NPV while defining optimum multi-destination cut-off policy. Each optimization is unconstrained by pushbacks, which implies in a whole new project development for each assumption tested. Optimization of stochastic models is also available.

Summary of Products and Services

The following table summarizes the possibilities for MiningMath's Products & Services.

What about SimSched?

MiningMath's technology was formerly named SimSched, and available in the products SimSched Pit Optimizer (SSPO) and SimSched Direct Block Scheduler (SSDBS). The name stood for Simulation and Scheduling, which represented a highly technical scope of work, oriented to Mine Planning. The technology is still applicable to it, but MiningMath recognized even more potential for its optimization platform.

Over the years, the mining industry and the Academy shared feedback on broader applications with SimSched, overall, related to business management and strategic decision-making. MiningMath was, for example, unaware of some possibilities such as Environmental Optimization through a Life Cycle Sustainability Assessment, which is intrinsically connected with the license to operate, the main risk for mining businesses for 2019-2020, according to EY's analysis.

Other possibilities comprise the broader concept of Strategy Optimization, an award-winning approach in the MineTech-2nd Mining Technical Challenges and Solutions Competition’s, in Russia (read more). In this context, mining professionals are enabled to assess multiple scenarios for project overview before detailed work and pit-design. Scenarios of which are resulting from a global optimization unconstrained by arbitrary pushbacks, which could considerably reduce the solution-space. The practical effect of simultaneously optimizing all constraints is that each project assumption changed, can completely modify the mining sequence, to maximize value.

Even being oriented to long-term-value, MiningMath's technology is flexible so even operations can take benefits and see how their efforts are contributing to the long-term-value, or if the team should be focusing elsewhere. This is also applicable to Economic, Environmental, Marketing teams, among others, which could be more present in this strategic-evaluation. Considering all said, it is inevitable and intuitive to make SimSched's name as broader as its capabilities, hence, being renamed to MiningMath.

Any company interested to lead the new standards of sustainability and best use of the resources available should be committed to showing society how robust such decision-making analyses were. This is only possible when incorporating as much complexity as in reality, which demands mathematical intelligence to globally optimize the long-term performance of a Mining Project.

Cursos GeoMin, an online training platform oriented to Spanish students, also published a summary on SimSched evolution. Leer más.