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What is Optimization...

An optimization problem is a numerical problem for which the solution is characterized by the largest or smallest value of a numerical function depending on several parameters. Such a function is often called the objective or goal function.

Many kinds of problems can be expressed in optimization -- that is, finding the maximum or the minimum of a goal function. This technique has been applied to a wide variety of fields, from operations research to game playing and artificial intelligence.


The Goal Function...

We applied this optimization technique to a mineral extraction venture, where the objective function consists of minimizing the total cost of mining based on constraint parameters typical to ore extraction procedures. Restrictive parameters like grade of ore, transportation costs, manpower and other factors are applied to the objective function.

The problem was resolved applying linear optimization techniques using the Simplex Method algorithm.





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