Magemi Mining Inc. has developed a unique mine optimization software called Magemi Mine Optimizer which exploits machine learning and other predictive data analytics techniques to propose optimal solutions for large-scale mining and environmental problems.
Magemi Mine Optimizer is a powerful tool that designs and estimates mine projects blending strategies, scheduling, optimizes processes and generates production, costs, and financial reports. It also optimizes operations daily material handling and plant feed to maximize project financials, daily production, and control. It does that by running a number of optimization algorithms that evaluate multiple combinations of different tonnage values and mine product grades and their effect on plant feed, smelter terms, OPEX and CAPEX. From these combinations, the tool selects the tonnage pair that maximizes revenue. The tool also produces a report that combines the optimized results by several categories – mining and processing grade, tonnage and revenue by product, costs (OPEX, CAPEX and royalties), total revenue (including taxes, NPV, IRR and payback).
In addition to revenue optimization, the tool also performs constraint optimization which minimizes fuel costs for stockpile re-handling. These costs are substantial in mine project operations and contribute to elevated fuel emissions and carbon taxes. In such a way, Magemi Mine Optimizer introduces strong connection between revenue optimization and fuel emissions efficiency and promotes environmentally sustainable practices in the mining industry.