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ParetoPitMizationBy

Paul B. Appiah

Frontcover

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An "Appiah & Associates International " presentation

04/21/23

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01ParetoPitMization

04/21/23 An "Appiah & Associates International " presentation

Is a new frontier in RRPO.

Its a “leading” mathematical solution.

Outcome is always “preferred”.

It is logical, facts based, justifiable.

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Positives

NegativeSuffers from “the curse of dimensionality”.

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04/21/23 An "Appiah & Associates International " presentation

ParetoPitMization

= ParetoPit Optimization

+ Stochasticity

+ Simulation

+Clustering

+ Weighting

+ Preferred SolutionPar

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h ParetoPitMizationRecipe for ParetoPitMization

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Components

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ParetoPit Optimization trigger Concurrent Opt.

Stochasticity trigger Uncertainty

Simulation trigger Variability

Clustering trigger Output Management

Weighting trigger Preferences

Preferred Solution trigger Decision-making

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Who should be interested in it?

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Owner Operating Companies.

Consulting Companies.

Contracting Companies.

Stakeholders.

Shareholders.

Investors.

Investment Bankers.

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General categories of Pit optimization

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Single Objective Pit optimization.

Single objective oriented Pit optimization.

Non-pareto Multiple objectives Pit optimization.

Pareto Pit Optimization.

ParetoPitMization.

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04/21/23 An "Appiah & Associates International “, presentation

Existing Vacuum in Pit optimization

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Single Obj. orientedPareto

Non-ParetoParetomize

Single Objective Pit optimization

ParetoPitMizationCommercial level Pit optimization

Reality

Common theme = All have similar body parts.

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Examples of various methods

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Single objective Pit optimization:-

Derive a Pit Shell that will maximize NPV subject to some constraints.

Single Objective oriented:-.Sequential treatment or optimization of multiple objectives. Confusion: simultaneous optimisation of variables a misnomer.

Non-Pareto:- Use of multiple objectives but with subjective weightings.

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ParetoPitMizationExamples of various methods cont’d

Pareto Pit optimization:-

Simultaneous optimisation of multiple objectives, pareto optimal solution set.

ParetoPitMization:-.

Simultaneous optimisation of multiple objectives, stochasticity, simulation and objective weighting and preferred solution derivation.

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Pareto Pit Shells Frontier

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An "Appiah & Associates International " presentation04/21/23

04/21/23 An "Appiah & Associates International " presentation

Happy to take questions or comments

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Paretomization Literature in General

InsideBackcover

Some Publications (free copies at appiahandassociatesinternational.com)

Introduction to Pareto Optimal Mine Planning.

Generating Decision Maker Preferred Production Plans.

Sensitivity Analysis in Pareto Optimal Stochastic Mine Planning.

Pareto optimality for rational comprehensive decision making.

Rational Comprehensive Mine Planning Via Pareto Optimal Stochastic Serial Dynamic Programming.

Rational Realistic Risk Removal Remedy ( 5R ).

Realismm, A Virtual Reality in Rational Managerial Decision Making.