Application of the Equipment Replacement Dynamic Programming Model in Conveyor Belt Replacement: Case Study of a Gold Mining Company

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dc.contributor.authorZvipore, David C.
dc.contributor.authorNyamugure, P
dc.contributor.authorMaposa, D
dc.contributor.authorLesaoana, Maseka
dc.date.accessioned2018-11-19T12:44:12Z
dc.date.accessioned2023-06-23T13:32:54Z
dc.date.available2018-11-19T12:44:12Z
dc.date.available2023-06-23T13:32:54Z
dc.date.issued2015-02
dc.descriptionOpen access journal articleen_US
dc.description.abstractAs assets age, they generally deteriorate, resulting in rising operating and maintenance costs and decreasing salvage values. In this paper a comprehensive Dynamic Programming-based optimisation solution methodology is used to solve the equipment replacement optimisation problem on the replacement of conveyor belts at a Gold Mining company in Zimbabwe. Given a mining setup with one and two-year old conveyor belts the ultimate objective is to keep or replace the conveyor belt such that the overall cost of material handling is minimised within a five-year period. The findings reveal that this mining system should replace conveyor belts yearly. It is concluded that, an equipment replacement policy for conveyor belts is a necessity in a mining system so as to achieve an optimal contribution to the economic value that a mining system may accrue within a period of time.en_US
dc.identifier.citationZvipore, D.C, Nyamugure, D.,Maposa,D and Lesaoana M. (2015).Application of the Equipment Replacement Dynamic Programming Model in Conveyor Belt Replacement: Case Study of a Gold Mining Company. Meditteranean Journal of Social Sciences, 6 (2) p 605-612.en_US
dc.identifier.issn2039-2117
dc.identifier.issn2039-9340
dc.identifier.urihttp://196.220.97.103:4000/handle/123456789/959
dc.language.isoenen_US
dc.publisherMCSER Publishingen_US
dc.subjectDynamic programmingen_US
dc.subjectConveyor belten_US
dc.subjectOptimizationen_US
dc.subjectReplacementen_US
dc.subjectEquipment replacementen_US
dc.titleApplication of the Equipment Replacement Dynamic Programming Model in Conveyor Belt Replacement: Case Study of a Gold Mining Companyen_US
dc.typeArticleen_US
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