How does coal price prediction work in open-pit mining?

By combining the coal price prediction results with the boundary optimization problem, the final mining boundary of the open-pit mine is dynamically adjusted according to the coal price fluctuation trend, and the risk of the preset profit index deviating from the actual scene is effectively dealt with.

How is the coal price trend predicted?

The uncertainty of economic indicators is introduced into the block model, and finally the medium and long-term boundary optimization problem is expressed as a two-stage mixed integer problem. The coal price data from 2010 to 2020 are collected, and the trend of coal prices is predicted by means of econometric methods.

Do coal prices influence the production capacity of open-pit mines?

Based on the above analysis, it is believed that coal prices have a regulatory mechanism on the production capacity of open-pit mines, i.e., changes in coal prices will guide the adjustment of production capacity by coal mining enterprises.

How did China's coal price change from 2010 to 2020?

Data show that from 2010 to 2020, the coal price experienced four ups and downs. From the middle of 2010 to the end of 2011, the rapid development of China's social economy greatly stimulated the demand for coal and brought about the continuous growth of coal industry output and price.

How do nested pits fit the coal price fluctuation trend?

Using the widely applied block model as the basis, a set of optimal production nested pits is obtained, allowing the realm design results to fit the coal price fluctuation trend and further enhance enterprise efficiency.

Can open-pit mining production capacity increase profits?

The optimal values of the penalty factor and kernel function parameter of the LSSVR model are selected by ISSA, and the model prediction results are applied to the prediction of coal price. Based on the research on the trend of coal prices, timely adjustment of open-pit mining production capacity to increase profits is theoretically feasible.