For immediate release
KPI Mining Solutions launches its first product in their suite of stochastic optimization software for mining companies.
KPI Mining Solutions in partnership with McGill-COSMO Stochastic Mine Planning Laboratory is excited to launch its first product in their suite of stochastic optimization software for mining companies.
MONTREAL, CANADA | JANUARY 31, 2023
KPI-COSMO Stochastic Mining Optimizer is a game-changing software solution representing a paradigm shift in mine planning, that will generate substantial value for the mining ecosystem.
We are thrilled to announce a strategic partnership with McGill University’s renowned COSMO Stochastic Mine Planning Laboratory, and a global consortium of mining companies composed of AngloGold Ashanti, Anglo American/De Beers, BHP, IAMGOLD, Kinross Gold, Newmont, and Vale.
Roussos Dimitrakopoulos, Director of the McGill COSMO Stochastic Mine Planning Laboratory states, “After a meticulous qualification process, McGill and the consortium of mining companies selected KPI Mining Solutions to develop and globally commercialize KPI-COSMO due to their outstanding expertise in artificial intelligence, optimization and software development.
Benny Cohen, President of KPI Mining Solutions adds, “Our vision is to continue developing software solutions focusing on all mining production planning horizons, including long-term, medium-term, and short-term operational planning for both open pit and underground mining. Our underlying technologies are focused on stochastic orebody modeling and stochastic optimization. We deliver integrated simultaneous (mines to products to markets) AI + OR optimization models, dealing with multiple uncertainties. We are excited to collaborate with McGill Cosmo and the consortium to bring innovation to the mining industry.”
About KPI Mining Solutions
KPI Mining Solutions provides significant value to the mining industry through cutting-edge software and services. We bring innovative stochastic solutions to the mining industry, transforming their entire operation. Our parent company, KPI Digital is a business and technology consulting firm focused on transformation, and innovation. Their strength comes from 20 plus years of experience in data and analytics, AI, digital experience and enterprise performance management. They partner with leading technology companies including Microsoft, IBM, AWS and Google.
McGill-COSMO Stochastic Mine Planning Laboratory
COSMO is world renowned as one of top mining engineering research laboratories. It is directed by Roussos Dimitrakopoulos, McGill professor and Canada Research Chair (Tier I). COSMO is a collaborative mining engineering laboratory dedicated to the advancement of knowledge through research and development of new, risk managing, stochastic optimization and orebody modelling frameworks for mine planning and production scheduling of mining complexes, which create value across the entire mining-minerals production chain. Find out more here. For over 200 years, McGill University has become one of Canada’s and the world’s leading institutions, due to the excellence of its teaching and research programs. McGill’s Department of Mining Engineering’s undergraduate and graduate courses, and research programs are ranked in the top-five best mining programs in the world. Find out more here.
About the COSMO’s Consortium of Mining Companies
COSMO is funded by its Consortium of Mining Companies composed by some of the world’s leading mining companies, including AngloGold Ashanti, Anglo American/De Beers, BHP, IAMGOLD, Kinross, Newmont, and Vale. Together, they represent some of the world’s largest mining organizations and generated $175B USD in global revenue in 2021 with a market cap of approximately $340B USD. Find out more here.
To learn more about KPI Mining Solutions visit www.kpimining.com
Vice President Marketing