The products of mining are a key portion of human existence. Mined commodities will be crucial in the world’s transition to a greener economy. Mining operations require significant capital funding, so risks must be well understood and carefully controlled. In addition, the properties of a mineral deposit, such as grade, hardness, and continuity, can be highly variable, often in an unpredictable manner. These constraints make it extremely important to make an accurate estimation of the capital and operating costs for any mineral project.
This course will cover the methods of estimating costs for the mining and production of mineral commodities, including factoring, indexing, and use of cost data bases. Participants in the course will complete a case study for a mining project, selected from a group project data sets provided by the instructor.
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Objetivos
At the completion of this course, participants will: Understand the properties of a mineral deposit that affect costs—grade, reserves, mineralogy, etc. Understand the capital constraints of the mining industry Understand the importance of accurate cost estimates in the development of a mining project Understand the use of factoring and indexing in estimating mining costs Understand the relationship of capital costs, operating costs, and profitability Understand how variation in a mineral deposit’s properties, and the interaction of those properties with costs, can affect the profitability of a mine Complete a cost estimate for a model mining project, and analyze how that estimate affects the project’s profitability
A quién va dirigido
The course is intended for those with a background in mining, mineral processing, cost estimating, or finance. Participants should be familiar with Microsoft EXCEL, and basic statistics.
Temario completo de este curso
MODULE 1—The nature of value
- – The definition of ore
- – Grade and reserves
- – Mineralogy
- – Location
MODULE 2—The development of value
- – Prospecting and exploration
- – Preliminary economic analysis
- – Project financing
- – Capital constraints
MODULE 3—Project valuation
- – Project pro forma analysis
- – Net present value (NPV)
- – Net cash flow
MODULE 4—Cost estimating methods
- – Basis for factoring
- – Common cost indice
- – Mining cost data bases
- – Examples
MODULE 5—Cost estimates in project valuation
- – Simple effect of cost variation on NPV
- – Effects of changes in ore properties on costs, and the carry-on effects on NPV
MODULE 6—Cost estimate case study (for each participant)
240 €