Dynamic factors of formation of mining development strategy in the conditions of incomplete certainty of the raw material market

Abstract The article deals with the issue of planning the development of mining operations in the context of a changing demand for iron ore products. One of the problems regarding iron ore deposit mining at the current stage of open mining development presented in this work. It includes the following: mines operate with a constant operational capacity while iron ore products price and demand significant variation is observed in mineral markets. In these conditions, there is a possibility of a significant increase in economic efficiency of mining due to the implementation of a flexible change in the main parameters of the open-pit, which is achieved by a justified correction of the development of mining operations by changing the dimensions, parameters and design of the active part of the working area in an open-pit. A technique for planning the development of mining operations in an open-pit has been developed, which differs from the known ones by the possibility of regulating the main parameters of the open-pit under conditions of a changing demand for iron ore products, and also takes into account the interrelationship of mining method parameters ensuring a basic ore stock ready for excavation in the open-pit.