KPI Mining and McGill collaborate on stochastic optimization software

KPI Mining in collaboration with McGill University's COSMO, have launched KPI-COSMO stochastic mining optimizer. The result, KPI-COSMO, a mine planning software that the companies are calling a “game-changing.”

KPI-COSMO is designed to allow clients to optimize mine production schedules with integrated risk management by creating unique models of their mineral value chain. The software creates 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. The software provides sequences of extraction, cut-off grades, and material transformations across the entire chain of production, as well as production forecasts. 

COSMO is a collaborative mining engineering laboratory based out of McGill University that implements optimization and orebody modelling frameworks. The COSMO Laboratory is jointly funded by the Canadian and Quebec governments, as well as a consortium of major mining companies, who together represent 75% of the world’s mining activities 

The collaboration also includes companies such as - AngloGold Ashanti, Anglo American, De Beers, BHP, IAMGOLD, Kinross Gold, Newmont, and Vale.

"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," said Benny Cohen, president of KPI Mining Solutions. 

To learn more, visit www.KpiMining.com.