KPI Mining Solutions in partnership with McGill-COSMO Stochastic Mine Planning Laboratory has launched its first product in its suite of stochastic optimisation software for mining companies. KPI-COSMO Stochastic Mining Optimizer is described as “a game-changing software solution representing a paradigm shift in mine planning, that will generate substantial value for the mining ecosystem.”
The product is being developed as part of a strategic partnership between KPI Mining Solutions and McGill University’s renowned COSMO Stochastic Mine Planning Laboratory, and working closely with a global consortium of mining companies composed of AngloGold Ashanti, Anglo American/De Beers, BHP, IAMGOLD, Kinross Gold, Newmont, and Vale.
Roussos Dimitrakopoulos, Director of the McGill COSMO Stochastic Mine Planning Laboratory states: “After a meticulous qualification process, McGill and the consortium of mining companies selected KPI Mining Solutions to develop and globally commercialise KPI-COSMO due to their outstanding expertise in artificial intelligence, optimisation and software development.”
Benny Cohen, President of KPI Mining Solutions adds: “Our vision is to continue developing software solutions focusing on all mining production planning horizons, including long-term, medium-term, and short-term operational planning for both open pit and underground mining. Our underlying technologies are focused on stochastic orebody modelling and stochastic optimisation. We deliver integrated simultaneous (mines to products to markets) AI + OR optimisation models, dealing with multiple uncertainties. We are excited to collaborate with McGill Cosmo and the consortium to bring innovation to the mining industry.”
The solution is s designed to allow clients to optimise mine production schedules with integrated risk management by creating unique models of their mineral value chain. It is not only about optimising a single mine, but an entire value chain of multiple open-pit mines, stockpiles, processing facilities, and more. With complex material flows and cost/revenue streams accounting for geologic, financial, and environmental uncertainties.