This course provides participants with a solid foundation in the fundamental principles of mining economics. It focuses on cost efficiencies involved in every step of the mining process and provides an introduction to systematic planning and the importance of engineering decision-making based on costs. Each participant will receive a set of financial modelling templates and Dr Ian Runge’s Mining Economics & Strategy textbook.
Overview of the Mine Planning process, and application of economic evaluation procedures.
Value at a constant point in time, discounted cash flow analysis, discount factors (risk & uncertainty), and inflation.
Discounted cash flow ranking criteria, and discounted average cost.
Machine life & capital cost, operating costs, and first principal cost modelling.
Systematic planning process, and economic data at each phase of the planning cycle.
Economic definition of cost, types of costs, and average verse marginal costing.
Undeveloped deposits, initial assessments, and capital values & development strategies.
Payback, sensitivity analysis, and other subjective measures.
Contact [email protected]
Classroom or Remote
Classroom – Two Days Remote -10 hours (5 x 2 hour sessions) plus additional workshops to be completed outside sessions.
I have a much better understanding of concepts like NPV and IRR and how these are used in evaluating investment decisions.
Mine Manager - Kirkland Lake Gold
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