Geovia Presentation May 2018 Hilton Ankara

8–9 May 2018 | Ankara
3DS.COM/GEOVIA © Dassault Systèmes | Confidential Information | 5/2/2018 | ref.: 3DS_Document_2015
GEOVIA Mine Technology

Seminar & Workshop
In Partnership with
Turkish Gold Miners Association
and Turkish Association of
Economic Geologists
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8-9 May 2018 | Ankara
Seminar & Workshop
Seminar & Workshop
3DS.COM © Dassault Systèmes | Confidential Information | 5/2/2018 | ref.: 3DS_Document_2015
WELCOME ADDRES
Ahmet ŞENTÜRK
Turkish Association of Economic
Geologists, Chairman
Muhterem KÖSE
Turkish Gold Miners Association
Chairman
Seminar & Workshop
Introduction to GEOVIA
Klaus HANSSON
GEOVIA Managing Director – EURASIA
M.Burak EMCİ
GEOVIA Sales Manager
Our Company
210,000 enterprise 12,600

a Scientific customers partners
company • 12 industries in 140 countries • Software, Technology &
Combining Science,
• 25 million users Architecture Long-term
Technology and Art for a 15,000 • Content & Online Services driven
• Sales
sustainable society passionate people • Consulting & System • Majority shareholder control
Integrators • Revenue: €3,25.6 million*
• 124 nationalities / 179 sites
• Education • Operating margin: 31.2%*
• One global R&D / 64 labs
• Game changing 3DEXPERIENCE • Research
solutions
* Figures as of FY 2016 / Non-IFRS

Our Legacy
3D PLM
3D DMU Product Lifecycle Business Experience
3D CAD Management
Digital Mock-up
Computer-Aided Design
1980’s 1990’s 2000’s 2010’s
Our Clients: Industry leaders at the heart of innovation
Transportation & Mobility
Aerospace & Defense

Marine & Offshore
Industrial Equipment
High-Tech
Consumer Goods - Retail
Consumer Packaged Goods - Retail
Life Sciences
Energy, Process & Utilities
Architecture, Engineering & Construction
Financial & Business Services
Natural Resources
belief : the
Our purpose digital world
: harmonize extends
product, and improves
nature and life the real world
A New Era…
• Soucrce :Mining Journal – Future of Mining – A New Begining

• Source : Mining Magazine – Jan/Feb 2017 Issue- Software Awards
… our Brand Applications…

3DEXPERIENCE Powers…
…for 12 Industries
Shaping ideas into reality

3D MODELING APPLICATIONS
Where virtual worlds meet reality

Virtual+Real SIMULATION APPLICATIONS
INFORMATION INTELLIGENCE APPLICATIONS
Revealing and dashboarding BIG DATA using semantic technologies
SOCIAL & COLLABORATIVE APPLICATIONS
Unifying information and processes across the enterprise
Building the 3DEXPERIENCE Mine
Continuous value and added capability for the mining industry
Towards the 3DEXPERIENCE Mine
 A digital 3D assetwhere all mining activities can be
designed, planned, simulated, optimized and controlled
for more accurate mining operations.
 Built on top of the 3DEXPERIENCE Platform

 A secured & single source of truth
 Collaborative design and review tools
 Consists in multiple applications and contents to serve multi disciplinary requirements of Mining Industry
3DEXPERIENCE Mine – A Platform for Digital Mining
3DEXPERIENCE Mine Implementation
Modeling & Design Simulation Data Analytics Business Operations Any Application Technology Suite
Business
Collaborative 3DEXPERIENCE Platform
Platform
Dynamic Semantic Data Model
Data Capturing | Data Storage | Data Aggregation | Data Analytics | Data Visualization | Data Security | Data Warehousing
Platform Edge Gateway (3DEXPERIENCE on-premises applications & gateway)
External Environmental Sensors and

Data sources Data Plant Data Equipment other live data
3DEXPERIENCE innovation for “the Mine of Tomorrow”
Geoscience
Models
Single Source of the Truth

Mining Business Processes
Creative
Image Analytics Experiences
Big Data Analytics
Geospatial and Semantic
Modeling of Mining Data
Geomechanical
Parametric Mine Mine Planning Simulation
Design Scenario Analysis
3DEXPERIENCE Powers our Portfolio
Industry Solution Experiences ENTERPRISE

VALUES
Industry Process Experiences ORGANIZATION

VALUES
Roles & Apps USERS

VALUES
3DEXPERIENCE Business Platform
Solution 1 Solution 3 Industry Solution Experiences
Solution 2
QUINTIQ
3DEXPERIENCE BUSINESS PLATFORM

Mining Solutions Portfolio
Industry Solution Experiences that leverage the best practices from other industries into mining
DISCOVER EVALUATE ESTABLISH EXTRACT BENEFICIATE SELL REHABILITATE
INTEGRATED CONSTRUCTION
NATURAL RESOURCES BUSINESS Delivering on time and on budget
EXCELLENCE
Define, plan, and manage your surface
and mining business
INTEGRATED MINE PLANNING

Efficiently deliver integrated plans
INTEGRATED LOGISTICS
Managing delivery to your customer INTEGRATED EXECUTION
Deliver on your promises across
your operations
Integrated Mine Planning
Efficiently define your reserves and deliver integrated plans
Mine Planning Production Management
Deliver executable plans & schedules with Increase the confidence in your
continuity from strategic to tactical horizons mining & processing operations
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4
Mine Design
Efficiently design your surface
or underground development
3
Enterprise Collaboration
Knowledge Acquisition & Sharing, Collaborative
File Sharing, Communication
2 1
Resource Modeling
Efficiently model ore quality
& perform risk analysis
Enterprise Collaboration
Geologist /
Engineer
Knowledge Collaborative File
Acquisition & Operations

Sharing
Manager
Sharing
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GEOVIA Surpac™
Integrated Geology, Resource Modeling,
Mine Planning and Production
GEOVIA Surpac™ is the world’s most popular geology and mine planning software. It delivers
efficiency and accuracy through ease-of-use, powerful 3D graphics, and workflow automation.
Benefits include:
• Comprehensive tools support all mining processes
assuring data integrity.
• Increased efficiency from better sharing of data,
skills and project knowledge.
• Automated tasks offer higher productivity.
• Ease-of-use for better understanding of the
system and of project data quickly.
• Modular and easily customized for greater flexibility.
• Reduces data duplication by connecting to RDBMS
and interfacing with common file formats from GIS, CAD, etc.
www.geovia.com/surpac
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Who are our Target Customers?
A solution for Geologist, Mining Engineers and Surveyors
 Geologist – exploration geologists & resource geologists

 Geotech’s – applicable to ground control, joint modeling, fault modeling, slope
stability monitoring.
 Mining Engineers – pre-feasability design, mine design (OP or UG), stope design
(UG), blast design, long, medium & short-term planning.
 Surveyors – operations, survey pickups, volume calculations, bonus payments.
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Critical Issues
What is preventing mining companies from greatness?
 Resource model does not correspond with what’s in the ground.

 Trouble sticking to development plan (Project Management)
 Failure to update mine design as new geological information arrives.
 Turn-around time for reporting and plotting.
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Our value proposition
 Fast, accurate, & repeatable resource estimations for almost any type of deposit.
 Reduces over/underestimation of the resource.

 Gives geologists best-practice methodologies.
 Minimizes time required to update the resource model.
 Flexible CAD tools for mine design of any mining method.

 Allows the tools to fit the current operations and not visa-versa.
 Repeatable workflows optimize time input and reduce human error.
 Minimize workflow time and human error.
 Open data platform allows Surpac to unify data from many sources.
 Allow you to preserve existing investment in complementary technology.
 High degree of data compatibility allows Surpac to act as a central unifying visualizer for data
from disparate systems.
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Benefits to the mining value chain
Part of GEOVIA’s comprehensive mining platform
 Total Solution:  Extreme Compatibility  Customizable Workflow

 Geology> Optimization >  Largest User Base  Help Resources
Design > Scheduling
 Automation  Global Technical Support
 Ease of Use
 Free Viewers
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What’s coming in Surpac in

2018
What’s coming in 6.9 and 7.0
2018 Surpac Releases
New Structural Analysis Tools
• New tools for analysing joints, faults and other orientated

data.
• Integration with the Surpac Drillhole Database
• Logged joints can be coloured and scaled by RQD
• Plots and maps generated
• Surface gradient functions
• Foliation Visualisation
• Dynamic Plane Fitting
• Stereonet / stereographic tools
• Filter selection by digitising
• Generate mean planes
• Export to industry standard software (i.e DIPS)
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Faults
Red Major Fault Planes (3DM)
Fault Traces (Red = Major, Blue = Minor)
Contains British Geological Survey materials © NERC

Contains OS data © Crown copyright and database right 2017
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Surface Geotechnical Samples – Bedding Planes
3D Symbols Stereographic Projection
2D Symbols
Bedding Planes
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Surface Geotechnical Samples - Faults
3D Symbols
Stereographic Projection

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Bedding Planes
Downhole Geotechnical Samples
Stereographic Projection
The Journey to 3DEXPERIENCE continues
• Surpac will be more closely integrated with the

3DEXPERIENCE platform through 3DSpace.
• One version of the truth
• Global Collaboration
• Dedicated document management
3DSpace
• Resource Lifecycle Management
• On cloud and on premise deployments
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Stope Optimisation
• GEOVIA and AMS have signed an agreement to

license the underlying technology present in AMS’s
Mineable Shape Optimiser.
• Underground design tools will be enhanced to
complement the Stope Optimisation Functions
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The state of the industry
A mature, trusted and reliable geology and mine planning platform
 Surpac is part of a comprehensive solution for mining companies looking for geology
and mine planning, scheduling and optimization.
 Many competitors provide geology and mine planning, but no scheduling.
 Other competitors server either geologists or engineers, but not both.
 Their solutions would need to be part of a greater, multi-vendor solution.
 High degree of adaptability – no other geology and mine planning solution has the
level of scriptability of Surpac
 Popular and trusted – being one of the most trusted Geology and Mine Planning
products means that trained experts are readily available
 Ease of Use: Our users insist that Surpac is considered truly easy to use
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Customer Case Study
Rheinkalk GmbH
“Surpac provides a wide range of content, flexibility and functionality, allowing us to increase the
quality of our work.”

— Rainer Westermann, Manager of the Geology Mining Team, Rheinkalk GmbH
Pre-screening at the Wülfrath-Flandersbach plant. Aerial view of the Asbeck quarry at the Menden-Hönnetal property – Germany.
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GEOVIA MineSched™
Compelling Value Proposition

Mine scheduling
Putting plans into action
 Mine scheduling depends crucially on having access to the right data to set up
short term planning solutions quickly and reliably
 It takes as inputs the results of a strategic plan containing pit designs based on
an ultimate pit shape.
 It answers two simple questions: “Which blocks do I mine, and when do I mine
them?”
 The answers to these questions take several forms, such as graphical mining
sequence, reports and Gantt charts. These outputs need to be in open formats
that can be consumed by popular project management tools.
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GEOVIA MineSched™– The most innovative scheduling software experience for mining
puts you back in the driver’s seat to maximize productivity and profits.
Benefits include:
• Broad set of capabilities, proven scheduling
algorithms, and ability to output results in a wide variety
of formats offers the flexibility to meet any number of
project requirements.
• Offers the ability to create schedules that improve
productivity and profits quickly and easily, beyond what
could be achieved by manual scheduling.
• Offers the flexibility to work with a number of different
GMP products, including Surpac, Minex and GEMS.
5
Flexibility and openness
Benefits of MineSched
 Mine Planning Engineers can achieve their scheduling objectives by quickly and
easily creating and comparing different scenarios.
 Reduce mining costs by preparing practical schedules with rules, constraints and
capacity scenarios.
 Lower processing costs by meeting feed grade requirements with target scheduling
algorithms.
 Validate schedules by visualizing them in 3D animations and sharing them via an
interactive viewer.
 Publish schedule results to a variety of different outputs, such as Excel, MS Project,
any database, or mine production management solutions like GEOVIA InSite™.
 Accept any popular GMP file formats for creating a mine schedule.
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Versatility and robustness
Benefits of MineSched
 MineSched will accept and schedule any number of open pit mines
 For underground mines, MineSched supports scheduling of development
advance as well as stope production
 Manages stockpiles
 Calculates haulage requirements
 Development / Production
 All minerals
 All mining methods
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MineSched: Inputs

 Surpac
 Datamine
 GEMS
 Vulcan
 Whittle
 Minex
 CSV
 String
 Material

 Surfaces
 Solids
 Polygons
 Block Attributes
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MineSched: Graphical Interface
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MineSched: Excel Reports
Surface Mine Scheduling Pit_West
W
Pit_East
Wa
as
te
 Multi-Mine  Material Movement
HG
ste
LG
HG
LG
 Rules-Based  Haulage Calculations

 Targets  Graphical Output
stockpile_LG stockpile_HG Waste_Dump
LG
HG
 Long to short-term  Reporting
process_Mill
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Surface Mine Scheduling Benefits
 From long-term to short-term, open pit to strip mining

 Prepare practical schedules quickly
 Schedule activities such as haulage, drilling, charging, blasting
 Quality control
 Targeting grade and contaminate values
 Advanced blending strategies
 Controlling costs
 Confidence in results delivered
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Underground Mine Scheduling
 Development & Production  Material Movement • Graphical Output
 Rules-Based  Haulage Calculations • Reporting

 Targets
 Long to short-term
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Underground Mine Scheduling Benefits
Development and production for long and short term

 Material flow through re-mucks, ore passes, material
transport levels
 Setup primary and secondary stope dependencies
 Ancillary activities: drilling, charging, blasting, stope
barricading, backfilling
 Schedule development from a centerline model
 Precise development intersection rules
 End of period solids representing development and
stopes
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Underground Mining with MineSched 9.1.0
 Huge performance gains in evaluating

headings - 10 to 20 times faster
 Ability to import and refresh multiple
underground headings for more  Accurate calculation of stope depletion
productive schedule design. by underground headings
 No need for manual merging in
 Greater control of short term activities:
Surpac, making the workflow of setting now you can use any activity to
up an underground design faster and constrain the start of the Mining
easier to use. process for a location to support
scheduling of activities like filling
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MineSched Haulage Support
 Empowers planners to utilize their trucking Will determine the shortest route each block
data, haulage designs and operational should take once it is mined in the schedule.
requirements to define how many trucks are  Once the haulage schedule has run, users
required to be available each period. can report truck hour requirements per period
 Import of haulage design fully integrated with as well as the number of trucks required to
the Mine Planning Software used, ensuring meet the reported production rates.
they can be easily updated based on the  Mine Planners can see the path every block
latest design and roadway velocity takes during the life of the schedule to
information. validate that the schedule is practical to
 Once all routes defined, can define the range implement.
of available haulage routes trucks can choose
to move to the defined destination and back.
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Customer Case Study
Golden Star Resources Ltd.

“We are able to set realistic targets for the company and we know the life-of-mine at any point in time in just a few
clicks. MineSched has also helped us increase our efficiency, saving us costs and reducing scheduling time.”
— Ruth Menz, Mining Engineer, Golden Star Resources
A typical MineSched schedule display. Another typical MineSched display
www.geovia.com/sites/default/files/customer_stories/CSS_GoldenStar.pdf
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Mine Scheduling with GEOVIA MineSched™
Putting you back in the driver’s seat!
• Broad set of capabilities, proven scheduling algorithms, and ability to output

results in a wide variety of formats offers the flexibility to meet any number of
project requirements.
• Offers the ability to create schedules that improve productivity and profits quickly
and easily, beyond what could be achieved by manual scheduling.
• Offers the flexibility to work with a number of different GMP products, including
Surpac, Minex and GEMS.
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Introducing Tactical Blending
 A solution from Dassault Systèmes looking to improve predictability and reduce

operating expenses through greater optimization of all scheduling parameters.
 Integrated solution of GEOVIA MineSched and SIMULIA Isight delivers:
 Decreased cost in blending
 Increased confidence and predictability of where the ore is coming from per period
 Increased LOM by optimizing the use of the resource
 Improved quality and reduced cost of mining
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Delivers real benefits to Mining Companies
Direct Benefits
 Optimize the use of material, according to:
Mine
 Availability of material by region Scheduling
 Cost per mine/plant/or period
 Technical plant requirements to grade, material type etc Availability of
Stock Capacity Each Lithology
 Run more than one mine or one plant at the same time. per Period
 Quick evaluation with different sets of optimisation criteria.
 Quick reaction with a new mine planning according market price. Tactical Blending
 Quick simulation of scenario with production increment or new plant
constrains
Plant Request
Indirect Benefits and Range of Availability of
Tolerance in resources
 Improve final product quality the plant feed
 Reduce cost of maintenance and stops of the plant Availability of
Additive
 Reduce risk of cost by processing sub-grade Blending
 Improve the final product Material
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Model
Full Setup
Parameters
Draft of Isight Setup
Light Setup
Sheet
NPV Spread
MineSched / Isight for Open Pit
Proof point: reduction in truck hours
 Inputs
 Mining directions
 Production rates
 Plant throughput
 Grade targets
 Objective: minimize haulage costs
 Result: 15% reduction in truck hours
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Example Use Cases
Use Cases Objective
Dates for bringing pit phases online. Reduce mill feed target deviation
Positioning waste piles Reduce material re-handle & haulage
Development advance for bringing stopes online Optimize mill feed grade and reduce drill
requirements
Ventilation fan number & placement Reduce ventilation network requirements:
# of fans and power consumption
Bench start points Reduce haulage & stabilize grade
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Summary
 Optimization by iteration  Optimize for factors external to any one
 Automate workflows consisting of

application
disparate applications  Determine relationships between
 Provides you with the results of many inputs / outputs
runs to be able to make an informed
decision
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in the Mine Planning Process

The Role of GEOVIA Whittle
GEOVIA Sales Enablement

Mine Planning Spectrum
Resource Planning: Planning: Planning: Production Corporate

Exploration
Modeling Life of Mine Medium-term Short-term Management Management
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3
►
►
►
►
Pit Optimization
Strategy options
Use Whittle for:
Sensitivity Analysis
Life of Mine Schedule

Whittle Approach
 World’s most trusted strategic mine planning software (since 1984)

 Well developed (Cut off grade optimization since 1999)
 Complete strategic planning process
 Flexibility to handle complex and simple scenarios
 Realistic hardware specs
 Reliable results in a timely manner
 Superior mine plans with higher NPV in less time
 Fast to generate Pit Shells through the use of the Pseudoflow algorithm
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Whittle Pit Optimizer - How big and where to mine?
Pit Optimizer engines
► Lerchs-Grossmann
► Pseudoflow algorithm
► Maximises Cashflow
Profit = Revenue - Costs

Value = Recovered Product * (Price-Selling Cost) - Ore Tonnes*Process Cost - Rock Tonnes*Mining Cost
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Whittle - Economic evaluation tool
You can’t manage what you can’t measure
How can you measure the value of a project?
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Discounted Cashflow Analysis (DCF)
Year Cash 10% Discount DCF

0 -$3,000,000 1/1 -$3,000,000
1 $1,000,000 1/1.1 $909,091
2 $1,000,000 1/1.21 $826,446
3 $1,000,000 1/1.311 $751,315
4 $1,000,000 1/1.4641 $683,013
5 $1,000,000 1/1.6105 $620,921
Total $2,000,000 $790,787
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Different timing of cash flows
Year Cash 10% Discount DCF

0 -$3,000,000 1/1 -$3,000,000
1 $1,500,000 1/1.1 $1,363,636
2 $1,500,000 1/1.21 $1,239,669
3 $1,000,000 1/1.311 $751,315
4 $500,000 1/1.4641 $341,507
5 $500,000 1/1.6105 $310,461
Total $2,000,000 $1,006,588
A Schedule determines when cash flow occurs
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Nested Pits From Optimization
► Scaling Price by Revenue Factors
Inner pit shell identifies where best to begin

mining
Intermediate pit shows

potential pushback
Pits used for sensitivity

analysis
Higher price pits show potential future expansion
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Nested Pit Shells by Revenue Factors
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Or Directional Pit Shells
Pit by Pit Graph
Final Pit - 8
Starter Pit
Options 4 & 5 Pit Sensitivity
$3,000
$2,500
B
$2,000
Pit Value
$1,500 A
$1,000
$500
$0
0 2,000 4,000 6,000 8,000 10,000 12,000
Pit Tonnes
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$45.2M NPV
Pit 4&8 Schedule
vs
$44.5M NPV
Pit 5&8 Schedule
Whittle Schedule Inputs:
Scenario: Schedule:
Mining Limit
►
► Final Pit and Cutbacks (Stages)
► Process Method Limit ► Can be selected automatically
► Throughput Factors ► Can import Pit Designs

► Or other user defined areas
► Production Limit
► Minimum Mining Width
► Blending (input grade) requirements
► Vertical Advance Rate (Max benches)
► Costs, Recoveries & Prices
► Objectives (NPV or Balanced?)
► Initial Capex & Mine closure costs
► Sustaining Capital & Time Costs
► Period variation
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Did we say Strategic?
Scenario Analysis to find optimal:
► Mill & Mining Capacity
► Cut-off grade & Material Classes

► Pit Sequencing and Staging
► Mining Direction
► LOM Schedule robust to change
Investigate Options:
► Inject capital to increase throughput?
► Add a Heap Leach or Concentrate?
► Selective mining or higher dilution?
► Contractor mining or owner mining?
► Change product specs?
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Whittle Schedule Outputs
Cutbacks modified by minimum mining width: Customisable Graphs and CSV Reports
Block model coded by period numbers: Bench Schedule
End of Period DXF surfaces:
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►
►
Pseudoflow
What's New
SIMO – Simultaneous Optimisation

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Lerchs-Grossmann
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Lerchs-Grossmann
Lerchs-Grossmann
 The objective of LG in it’s simplest form is to
 Determine the exact optimal shape for a Open Pit in three dimensions
 Using the value of the block and subject to the required pit slopes
 The shape
 Includes every block that is "worth mining" when waste stripping is taken into account.
 Excludes every block that is not "worth mining".
The method uses the Values of the blocks and slopes, represented by “structure arcs”.
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Lerchs-Grossmann
 This model is 17 blocks long and 5 blocks high.
 3 blocks contain potential ore,

 All other blocks are waste and have the value -1.0
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Lerchs-Grossmann
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Lerchs-Grossmann
24
Lerchs-Grossmann
25
Lerchs-Grossmann
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Lerchs-Grossmann
 This is the ultimate Pit Shape for those parameters.
Lerchs-Grossmann
 The previous problem covers off on a few different mathematical concepts
 Set & Graph, and

 Maximum Closure of a Set.
 The same sort of problem can be described like this
 These same concepts have been extended in the field

of Operational Research to produce the likes of
Pseudoflow as published by Hochbaum in 2008
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Pseudoflow
 The objective of Pseudoflow is to solve the same problem, but research has
show it is more efficient than the other methods

 The same concepts of Set & Graph is used, however instead of solving directly
for Maximum Closure of the Graph, you solve for a variated version of the graph,
a flow graph or a flow network.
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Pseudoflow
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Pseudoflow
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Pseudoflow
Whittle
 Pseudoflow will be available as part of Whittle Core and in the Whittle 4.7.1
release, released July 2017

 Only enabled within the 64 bit version of Whittle
 And then, only within the 64 bit Engine, and
 From the Optimization Tab, the user will need to select Pseudoflow if they wish to
use it.
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Whittle – Timing Comparison with 1 Revenue Factor
15hrs 42mins
12mins 41secs
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Whittle – Timing Comparison with 9 Revenue Factors
20mins
24hrs 21mins
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RAM (GB)
Active Arcs (M)
103
8
Whittle – Memory Use
238
16
509
32
779
48
1,049
64
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Whittle – Differences in the results: LG Pit 1
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Whittle – Differences in the results: PS Pit 1
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Whittle – Differences in the results: LG Pit 2
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Whittle – Differences in the results: PS Pit 2
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Whittle
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Topics
Pseudoflow
CAPEX Optimization
Simultaneous Optimization – SIMO
- GEOVIA Whittle Advanced Strategic Scheduling tool
- Optimises inputs simultaneously over life of mine

- Unlocks the hidden NPV
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History of Whittle SIMO implementation
Based on Prober B algorithm – Jeff Whittle AO (Officer in the General Division of the
Order of Australia)
 Whittle 4.4 – SIMO - 2010

 Single mine, Two process methods
 Whittle 4.7 – SIMO Advanced – 2016
 Multi-Pit, Multi-Process, Reporting, Speed
 Whittle 4.7.1 –July 2017
 CAPEX Optimisation – Mining and Processing
Capacity
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Example 1: Dataset by Minelib
http://mansci-web.uai.cl/minelib/
Block size 7.5 x 7.5 x 6 Au, g/t

2.14 Mln blocks
Au grade only
Study Inputs:
Mining cost $1.32/t Slope angle 45 degrees
Processing cost $19/t Mill capacity 3.3 Mt/year
Mining Dilution 5% Vertical Advance Rate 60 m
Mining Recovery 95% Disc. Rate 15%
Processing Recovery 90% Stockpile
$0.5/t
Au price $1300/oz Rehandling Cost
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NPV Practical Pushbacks (Mining Width 30m)
Step 1 – Pit Optimisation and Cutback selection
Milawa vs SIMO schedule comparison
Milawa NPV Schedule NPV $275M SIMO Schedule NPV $307M 12% increase
25 1.8 25 1.8
Au Grade g/t
1.6 1.6
20 20
1.4 1.4
Au Grade g/t
15 15
1.2 1.2
Tonnage Mt
Tonnage Mt
1 1
10 10
0.8 0.8
5 5
0.6 0.6
0 0.4 0 0.4
1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10
Year Year
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Mining Limit Scenario Analysis – Contractor Mining
Assume No Capex
310 $307M
305
300
295
NPV, M$
290
285
280
15 16 17 18 19 20 21 22 23 24 25 26 27 28
Mining Limit, Mt
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Mining Limit Scenario Analysis – Owner Mining
Assume Capex $1/t
288 $286M
286
NPV $282M
284
282
280
NPV, M$
278
276
274
272
15 16 17 18 19 20 21 22 23 24 25 26 27 28
Mining Limit, Mt Mining fleet replacement in Year 6?
48
49



Iterative
Time consuming
Multiple Scenarios
Traditional Mining Limit Scenario analysis
50
Mining Capex Optimisation setup
Mining Limit – SIMO CAPEX Optimisation
51
Schedule Results
NPV $285M
Mining Limit – SIMO CAPEX Optimisation
52
Base Case: 60Mt Mining Limit
Example 2 – Marvin Dataset
53
Mining Capex Optimisation: $1/t up to 100Mt
54
Mining Capex Optimisation: $1.5/t up to 100Mt
Total Capex cost $218M NPV $1,587M
55
Mining Capex Optimisation: $2.0/t up to 100Mt and Process $10/t up to 10Mt
56
Total Capex cost $311M NPV $1,616M
57
Conclusions
CAPEX Optmisation in SIMO
 Saves time (less Scenarios)

 Better results – optimal limits for each period
 Better (practical) schedules – trucks also have value!
 Applicable at any period of mine life
To consider:
 Correct cost models are essential
 Mining limit doesn’t include rehandling limit
58
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