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An Optimized Open Pit Mine Application for Limestone Quarry Production Scheduling to Maximize Net Present Value

Author

Listed:
  • Devendra Joshi

    (Department of CSE, Koneru Lakshmaiah Education Foundation, Vaddeswaram 522302, India)

  • Premkumar Chithaluru

    (Department of CSE, Koneru Lakshmaiah Education Foundation, Vaddeswaram 522302, India
    Department of Project Management, Universidad Internacional Iberoamericana, Campeche 24560, Mexico)

  • Aman Singh

    (Department of Project Management, Universidad Internacional Iberoamericana, Campeche 24560, Mexico
    Higher Polytechnic School, Universidad Europea del Atlántico, C/Isabel Torres 21, 39011 Santander, Spain)

  • Arvind Yadav

    (Department of CSE, Koneru Lakshmaiah Education Foundation, Vaddeswaram 522302, India)

  • Dalia H. Elkamchouchi

    (Department of Information Technology, College of Computer and Information Sciences, Princess Nourah bint Abdulrahman University, P.O. Box 84428, Riyadh 11671, Saudi Arabia)

  • Jose Breñosa

    (Higher Polytechnic School, Universidad Europea del Atlántico, C/Isabel Torres 21, 39011 Santander, Spain
    Department of Project Management, Universidad Internacional Iberoamericana, Arecibo, PR 00613, USA)

  • Divya Anand

    (Higher Polytechnic School, Universidad Europea del Atlántico, C/Isabel Torres 21, 39011 Santander, Spain
    School of Computer Science and Engineering, Lovely Professional University, Punjab 144411, India)

Abstract

This study involves a working limestone mine that supplies limestone to the cement factory. The two main goals of this paper are to (a) determine how long an operating mine can continue to provide the cement plant with the quality and quantity of materials it needs, and (b) explore the viability of combining some limestone from a nearby mine with the study mine limestone to meet the cement plant’s quality and quantity goals. These objectives are accomplished by figuring out the maximum net profit for the ultimate pit limit and production sequencing of the mining blocks. The issues were resolved using a branch-and-cut based sequential integer and mixed integer programming problem. The study mine can exclusively feed the cement plant for up to 15 years, according to the data. However, it was also noted that the addition of the limestone from the neighboring mine substantially increased the mine’s life (85 years). The findings also showed that, when compared with the production planning formulation that the company is now using, the proposed approach creates 10% more profit. The suggested method also aids in determining the desired desirable quality of the limestone that will be transported from the nearby mine throughout each production stage.

Suggested Citation

  • Devendra Joshi & Premkumar Chithaluru & Aman Singh & Arvind Yadav & Dalia H. Elkamchouchi & Jose Breñosa & Divya Anand, 2022. "An Optimized Open Pit Mine Application for Limestone Quarry Production Scheduling to Maximize Net Present Value," Mathematics, MDPI, vol. 10(21), pages 1-22, November.
    • Handle: RePEc:gam:jmathe:v:10:y:2022:i:21:p:4140-:d:964656
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    References listed on IDEAS

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    2. Ramazan, Salih, 2007. "The new Fundamental Tree Algorithm for production scheduling of open pit mines," European Journal of Operational Research, Elsevier, vol. 177(2), pages 1153-1166, March.
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