System model for calculating mine profitability
Wednesday, May 6, 2015 - 09:50
in Mathematics & Economics
A new system dynamic model makes it possible to plan the profitability of mining operations with greater precision than before. Researchers in business at Lappeenranta University of Technology, LUT have developed a model based on system thinking that supports investment decision-making by mining companies and helps optimise the guidance of production in mining investments. The model that has been built has already sparked interest among international mining companies.