target audience: TECH BUYER Publication date: Dec 2021 - Document type: IDC MarketScape - Doc Document number: # US47338521
IDC MarketScape: Worldwide Mining LoM/Long-Term Mine Planning Software 2021–2022 Vendor Assessment
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Abstract
This IDC MarketScape, part of the IDC Mine Planning and Scheduling MarketScape series, assess the capabilities and strategies of life of mine (LoM)/long-term mine planning software vendors utilised in the mining industry to ensure mining operations are planned to achieve the optimum net present value (NPV). The tools take geological block models and mine designs developed for the entire mine over the LoM/long-term as feeds when developing the plans. The software can utilise artificial intelligence (AI) and cloud for optimisation and rapid processing capabilities.
"There is a vast number of variables to be considered when developing an optimum LoM/long-term mine plan. Despite this, LoM/long-term mine planning tools often develop plans from a holistic perspective and do not account for potential variances in the predicted ore reserve and commodity prices," says Ben Kirkwood Senior Research Manager, Worldwide Mining, IDC Energy Insights. "Increasingly, these tools are being developed while accounting for these variances and drawing upon cloud capabilities for increased computational power, delivering more realistic plans faster," says Kirkwood.