Magemi Mining Inc. is pleased to announce that NSERC has approved funding for the Company's project "Data Analytics for Ore Blending Schedules".
The project aims to develop novel data analytics models for optimizing ore blending schedules for Magemi Mining Inc. Ore blending is a key process in mining operations , where ores of distinct qualities are mixed from different stockpiles so as to balance the available mineral reserves with revenues obtained upon sale of the final products. In particular, higher-grade ore feed lead to products with higher prices, but they reduce the overall life-of-mine tonnage and production. Thus, medium to low grade ore must be often combined with high-quality ones. A key challenge is that such blends must be defined daily while considering a large variety of factors, such as quality restrictions and a complex revenue structure that relies on current and future market prices. This results in a difficult problem in which it is necessary to consider numerous different blending scenarios, currently addressed only by manual methods.