A Modelling Study on Multi-Mine and Multiproduct in Guizhou Province, China

Abstract

Using dynamic planning method to construct the model for multi-mine and multi-product, this research tries to establish a new normal bauxite mine industry and upgrade the scientific production decision of bauxite industry. The optimal results, based on 6 bauxite deposits, show that after optimization, the inventory costs of 6 bauxite mines in 2016 have been reduced. Meanwhile, the optimal production decision suggests that, in the current new normal, bauxite enterprises should realize that this decision of expanding individual mine production to reduce the unit cost of bauxite may be unable to get the maximum profit as a whole.