Theory to practice
The value of investigating advanced optimisation techniques is often difficult to quantify and justify for busy mining engineers and management. While the effort of using these techniques are clear, there is often no assurance that the value will be worth the effort. This needed to change!
To invest back into the mining industry, COMET ONE uses practical knowledge of optimisation leaders Ken Lane and Dr Brett King to provide a online optimisation tool. This allow mines to quickly determine the value customized for the mine specific constraints, costs, recoveries and, vitally, the orebody geology.
Knowledge through experience
Rather than reading books and papers based on a distant project in a different environment, COMET ONE allows engineers to enter sufficient project specific information to estimate the value of their project in a few minutes.
Not only is this an extremely rapid analysis tool, it provides the results without having to spend significant time or break the budget. In fact, this was originally designed to help university students to understand these foundations of value drivers for mining projects. Use of COMET ONE for Strategic Analysis Training is part of the 2017 curriculum for leading universities in Australia, Canada and Chile (and is available in over 100 languages).
Although more comprehensive multi-sequence optimisation software is available using COMET Strategy’s flagship software Optimal Scheduler. COMET ONE is an easy first stepping stone for people without these skills or software capability to still determine 'size of the prize' for their project.
Exploring the impact of objectives, costs, revenue and constraints
When many objectives are specified, similar work is often undertaken for each objective. This is both time intensive and frustratingly distracts from pursuing the real value drivers.
How then can we ensure that the best option for the project is chosen? One way is by transparently analyzing project specific impact of common alternate objectives (including NPV, costs, metal, cash flow and reserves).
COMET ONE an also use project specific model which help engineers and management to discover practical ways to increase the value of their business as a whole.