Background
This course recognizes that mining is an economic endeavor, and, after safety, the cost of mining is one of the most important considerations in that endeavor. If you are an exploration geologist, a mining engineer, a metallurgist, a mine accountant, or a practitioner of any number of other mining-related specialties, at some time you will be asked to either do a cost estimate or to evaluate or utilize the results of an estimate whether you feel qualified to do so or not. This course will prepare you to do both.
This successful class was introduced by InfoMine in Vancouver in May 2011. It has since been taught four additional times in Perth, Seattle, Spokane, and via live webcast in Korea. Student involvement and feedback have played a vital role in continued improvement in class content and presentation.
Course Aim and Structure
This basic course will introduce you to multiple systems for estimating mining costs, including shortcut methods, and more detailed methods, and will prepare you to do a credible estimate. You will gain an understanding of the level of detail required for a credible estimate, and an understanding of the shortcomings of some of the shortcut methods commonly used. An efficient procedure for estimating costs using basic engineering principles is emphasized. A capital and operating cost estimate for a surface mine is used as an example to demonstrate how the procedure is applied. Cost estimating for processing plants and underground mining will be addressed in brief overviews
Hands-on experience will be facilitated in workshop sessions using spreadsheets, and for the first time, students will have access to Sherpa Mine Cost Estimating Software. An in-class Sherpa tutorial session will be provided, after which students will be given the opportunity to complete a number of cost estimates for theoretical mines, or for an actual project using their own data. Students are encouraged to bring project data with them to class for this purpose. Prepared spreadsheets will be provided to students for later use, and the Sherpa system will be available to all students for a period of time following the class.
Student involvement will be encouraged during the workshop sessions and through discussion of the students' previous estimating experience, if any, and through critique of the methods presented in the class. For details of topics covered see course schedule.
Participants are advised to bring a laptop computer (with MS Excel), and are encouraged to bring actual mine project data if available.
Certificate in Mining Studies
This course qualifies for three days of short course credit for the Certificate in Mining Studies (CMS), a continuing education program of accredited short courses, webcasts and online courses for lifelong learning in mining, supported by University of British Columbia and University of Arizona. more details »
Continuing Professional Development (CPD)
This course meets the requirements for formal CPD activity for most Canadian provincial associations and US state boards and may contribute the equivalent in hours towards your CPD requirement. more details »
Who Should Attend?
This is an introductory course appropriate for engineers, geologists, mineral economists and others with a basic understanding of mineral resources and mining.
Otto Schumacher P.E.
Otto Schumacher is a professional mining engineer and professional geologist based in Spokane, WA, USA. He holds a Bachelor of Geological Engineering degree from the University of Minnesota and a Master of Science - Geology degree from the University of New Mexico. He has worked as a mining engineer and geologist in underground mine operations for base and precious metals as well as on exploration projects for uranium and iron. He began specializing in mining cost and economic analysis upon joining the U.S. Bureau of Mines as Supervisor, Mining Feasibility Analysis Group, where he was responsible for development of aspects of Bureau systems for mine cost estimating and mineral property evaluation. In 1983 he started Western Mine Engineering, Inc., the predecessor to InfoMine's CostMine division, where he consulted and taught seminars in the area of mine evaluations, and also developed Mining Cost Service and related publications. He presently serves as a Director and technical advisor to CostMine. He is a past president of the Columbia Section of SME and a past president of the Northwest Mining Association.
Scott Stebbins P.E.
Mr. Stebbins is licensed in Washington State, USA, as a professional mining engineer. For thirty years his work has focused on estimating the costs and determining the economic viability of almost every facet of proposed mineral development projects.
He began his career at the U.S. Bureau of Mines in 1980, where he was involved in the various aspects of mineral property evaluation. In 1990 he resigned from the Bureau and went to work for Western Mine Engineering, Inc. (now InfoMine USA, Inc.). While there, he specialized in cost model development and equipment operating costs determination. In 1995, he founded Aventurine Engineering, Inc., as a platform from which to develop and market cost-estimating and economic-evaluation software. In addition to software development, Mr. Stebbins has worked consistently since leaving the Bureau of Mines as a mine and mineral processing cost estimator and consultant with over 100 project evaluations to his credit.
Most recently, he was tasked with writing the chapters on both surface and underground mine cost estimating for the upcoming release of the 3rd edition of the Society of Mining Engineer's Mining Engineering Handbook.
Provisional Schedule
This course is divided into three sessions with following topics:
| Time |
Session |
| 08:15 – 08:45 |
Registration and introduction |
| 08:45 – 10:30 |
Introduction to Mine Cost Estimating for Prefeasibility Analysis
- Why estimate costs
- Overview of cost estimating methods
|
| 10:30 – 10:45 |
Break with refreshments |
| 10:45 – 12:30 |
Introduction to Mine Cost Estimating (continued)
- Standards and terminology
- Choosing a production rate
|
| 12:30 – 13:30 |
Lunch |
| 13:30 – 15:00 |
Itemized Estimating
- Introduction
- Mine plan
- Production rates
- Haul distances
|
| 15:00 – 15:15 |
Break with refreshments |
| 15:15 – 17:00 |
Equipment Selection and Supply Requirements
Discussion and spreadsheet workshops covering:
- Excavating/Loading
- Hauling
- Drilling
- Auxiliary equipment
- Supplies
|
| Time |
Session |
| 09:00 – 10:30 |
Rounding Out the Estimate
Discussion and spreadsheet workshops covering:
- Personnel requirements
- Preproduction stripping requirements
- Buildings and structures
- Haul roads
- Determining unit pricing and costs
- The cost summary sheet
|
| 10:30 – 10:45 |
Break with refreshments |
| 10:45 – 12:30 |
Useful Estimating Tools
- Cost Indexes
- Scaling Factors
- Sensitivity Analysis
|
| 12:30 – 13:30 |
Lunch |
| 13:30 – 14:00 |
Overview of Cost Estimating for Underground Mines
|
| 14:00 – 14:30 |
Overview of Cost Estimating for Processing Plants
|
| 14:30 – 15:00 |
Parametric Cost Estimating Systems
|
| 15:00 – 15:15 |
Break with refreshments |
| 15:15 – 15:45 |
Cost Estimating by Comparison to Cost Models or other Mines
|
| 15:45 – 16:00 |
Cost Estimating Software
|
| 16:00 – 17:00 |
Comments and Information Checklist
|
| Time |
Session |
All Day
(breaks as above) |
Sherpa Cost Estimating Software Workshop
Tutorials and hands on workshop sessions will be provided for three software packages:
- Sherpa Cost Estimating Software for Surface Mines
- Sherpa Cost Estimating Software for Underground Mines
- Apex Software for Mining Economic Analysis
Students will be given the opportunity to estimate costs for an actual project using their own data, if available.
|
How to Register
Complete and return the registration form by fax: 604 681 4166 or email: edumine-support@infomine.com.
If you have any questions you can contact Sandra Wunsch by phone at +1 604 683 2037.
Fees
The full fee for the three day program is USD 2,150 + tax. The fee covers tuition, a comprehensive set of course notes, access to EduMine e-learning and software, a certificate of attendance, and catered breakfasts and lunches including light refreshments. The fee does not cover accommodation.
Early Bird: there is a 10% discount if you register at least 30 days before the course start date.
* A 10% discount is offered for groups of 3 or more OR if you provide your Annual EduMine subscription User ID at time of registration.
* These discounts cannot be combined.
Venue
The course will be held at Hotel Lusso, conveniently located in downtown at 808 W Sprague Ave, Spokane, WA 99201.
Hotel Accommodation
If you need to make hotel reservations, we recommend the Hotel Lusso: an elegant boutique hotel located in the heart of downtown Spokane, Washington. With its European charm, residential ambiance and excellent location, the Lusso is a perfect choice for the business or leisure traveler. The hotel features 48 comfortable and richly decorated guest rooms and suites. Adjacent to the lobby is a popular lounge and restaurant, a favorite of locals. The Hotel Lusso was recently awarded a listing on the Conde Nast Traveler Magazine Gold List. When making reservations make sure to ask for the "InfoMine group rate".
The world famous Davenport Hotel is just across from Hotel Lusso, and "one of America's exceptional hotels." When making reservations make sure to ask for the "InfoMine group rate".
For further information about hotels in Downtown Spokane, see the following link: http://www.downtownspokanehotels.com/.
Continuing Professional Development (CPD)
Short courses earn PDH/CEU credits for engineers in provinces and states that have CPD requirements. EduMine is an approved provider of continuing education by the Authorized Provider Commission of The International Association for Continuing Education and Training (IACET).
For more details, check provincial or state requirements.
Certificate of Attendance
Provincial/state regulations for CPD require that you attend the entire short course and that you complete an evaluation at the end of the course. Your Certificate of Attendance, with earned PDH, is issued on completion.
Cancellations
A 10% administration fee will be levied for cancellations made up to two weeks prior to the start of the course. Cancellations thereafter will be liable to the loss of the full fee. Notice of cancellation must be given in writing by letter or fax and action will be taken to recover, from the delegates or their employers, that portion of the fee owing at the time of cancellation.
EduMine reserves the right to cancel an advertised course at short notice. It will endeavour to provide participants with as much notice as possible, but will not accept liability for costs incurred by participants or their organisations for the cancellation of travel arrangements and/or accommodation reservations as a result of the course being cancelled or postponed. If a course is cancelled, fees will be refunded in full. EduMine also reserves the right to postpone or make such alterations to the content of a course as may be necessary.