KPI Mining Solutions Partners With McGill University, Mining Companies

KPI Mining Solutions announced it had entered into 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.

The new partnership represents a game-changing, paradigm shift in mine planning, that will generate substantial value for the mining ecosystem.

McGill COSMO is renowned as one of top mining engineering research laboratories. It is directed by Roussos Dimitrakopoulos, McGill professor and Canada Research Chair. 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. 

The term stochastic means, randomly determined; having a random probability distribution or pattern that may be analyzed statistically but may not be predicted precisely.

KPI Mining Solutions provides cutting-edge software and services to the mining industry. KPI delivers integrated simultaneous (mines to products to markets) AI + OR optimization models, dealing with multiple uncertainties. Its parent company, KPI Digital is a business and technology consulting firm focused on transformation, and innovation. They have 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.

 "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, " said Roussos Dimitrakopoulos, Director of the McGill COSMO Stochastic Mine Planning Laboratory.

 "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, " stated Benny Cohen, President of KPI Mining Solutions . " We are excited to collaborate with McGill Cosmo and the consortium to bring innovation to the mining industry."

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. 

 

To learn more about KPI Mining Solutions visit https://www.kpimining.com
To learn more about McGill Cosmo visit: https://www.mcgill.ca/mining/research/cosmo-laboratory

For further information:
 Lori Cohen, Vice President Marketing, Lori.Cohen@kpimining.com, 1-877-574-3678
 Roussos Dimitrakopoulos, McGill, admin.mining@mcgill.ca      1- 514-398-2215
 

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