This course provides a solid foundation in the fundamental principles of mining economics; focusing on cost efficiencies at each step in the process.
It also provides an introduction to systematic mine planning and reinforces the importance of engineering decision-making based on costs. At the completion of this course participants will take away a set of templates and solutions that can be utilised back in the workplace.
Who should attend?
This course is recommended for those who play a pivotal role in collecting, analysing and presenting information used to identify the economic implications of mine design, layout and operations.
Participants typically include:
Operational and Planning Engineers
Business and Strategic Analysts
Financial and Management Accountants
Mine Managers
Superintendents
Learning Outcomes:
At the completion of this course participants will be able to:
Understand frequently used terminology;
Describe the practices involved in systematic mine planning and explain the importance of engineering decision-making based on costs;
Create cashflow models based on compounding and discounting formulae;
Generate breakeven analyses using Discounted Average Cost;
Describe costs from an economic perspective;
Perform incremental and marginal cost analyses; and
Apply economic criteria to real-life decision-making.