Mine Project Economics

Mine Project Economics

Areas of Study: Management

Qualifies for CMS

Short Course Short Course
  • Audience Level: Professional Tool Tip
  • Dates: Unscheduled Tool Tip
  • Early Bird: Tool Tip
  • Enrollment: Included Tool Tip
  • Registration Fee: Tool Tip
  • Location: Toronto, ON, Canada Tool Tip
  • Duration: 1.5 days
  • CEUs: 1.2 (12 PDHs) Tool Tip

Course Summary

Summary

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This course deals with the fundamental aspects of the valuation of mining projects with particular emphasis on the models used for valuation, uncertainties in the input to these models, and the role of the models in decision-making. Several examples and exercises are used to illustrate the concepts. For details of topics covered see course schedule.

Pre-Course e-Learning

Prior to the course, registered delegates have access to the online e-learning material consisting of an introductory course titled Mine Project Economics.

Certificate in Mining Studies

This course qualifies for one and a half days of short course credit for the UBC Certificate in Mining Studies, a continuing education initiative by the Norman B. Keevil Institute of Mining at the University of British Columbia. more details »

Continuing Professional Development (CPD)

Registered participants who attend the entire short course and complete an evaluation at the end of the course will receive a Certificate of Attendance, confirming the Professional Development Hours (PDH)/Continuing Education Units (CEU) earned. Please confirm with your employer and/or professional association that this course qualifies for CPD.

Who Should Attend?

The material in this course would be useful to anyone involved in carrying out mine valuations or who wishes to understand mine valuations done by others. Some familiarity with discounted cash flow methods is useful but not essential.

Dr. Scott Dunbar

From 1975 to 1996 Dr. Scott Dunbar worked for various engineering consulting organizations. His experience includes mining exploration, geotechnical engineering, mine design, design of tailings dams, water resources engineering and hydroelectric engineering. He has worked on projects in Canada, the United States, Central and South America, Iran, Africa, and China.

In January 1997, he joined the Department of Mining Engineering at the University of British Columbia (UBC). He has taught courses in Mine Economics, Mine Waste Management, Mine Design, Management Science, and Simulation. He was the founding director of the Integrated Engineering program, an undergraduate interdisciplinary engineering program with a focus on engineering design methods, teamwork in design, independent learning, and communication skills. He is now the head of the Department of Mining Engineering.

Scott's research interests are in advanced mining and mineral processing methods, and the basic question: what will a mine look like 50 to 100 years from now? In collaboration with members of the Centre for Blood Research and the Department of Microbiology and Immunology at UBC, he has been working on applications of biotechnology to mineral separation. He also does research in project economics, mining construction, and mineral processing.

Scott and his wife Petra enjoy skiing, hiking, cycling, and remodelling their house. Sons Blake and Camden and daughter Enja are a constant source of entertainment.

Education

  • High School: United World College of the Atlantic, Wales, U. K. 1965-1968
  • British Advanced Levels: Math, Physics, Chemistry, and French
  • B.Sc. Geophysics (Honours), University of British Columbia, 1972
  • M.Sc. Geophysics, University of Toronto, 1973
  • Ph.D. Civil Engineering/Geophysics, Stanford University, 1977
Membership

  • Registered Professional (Geophysical) Engineer in B. C., Canada
  • Canadian Institute of Mining and Metallurgy
Languages

  • English: fluent
  • Spanish: speak and read
  • French: read and understand

Provisional Schedule

Instruction will take place from 9:00AM to 5:00PM on June 5th and from 9:00AM to 12:00PM on June 6th, with a lunch break from noon to 1:00PM on the first day and 15 minute snack breaks in mid-morning and mid-afternoon.

At 2:00PM on June 6th, shortly after the course and in the same location, EduMine will present another short course, Valuation of Mineral Projects based on Technical and Financial Modelling. Participants of Mine Project Economics will be well positioned to excel in the valuation course. For more details or to register, please see the course page. Note that there is a 10% discount for combining two or more courses!

The Mine Project Economics course includes the following topics:

Session 1:
Session 2:

Introduction

  • discounted cash flow
  • continuous cash flow models
  • project cash flow model
  • net present value
  • simple examples of valuations

Mining Costs

  • capacity factoring
  • cost models
  • activity-based costing
  • decision making using costs
  • examples from current feasibility studies

Project Valuations

  • equity and debt financing
  • flow to equity valuation
  • project and sub-project valuation
  • asset purchase and replacement including simple models of tax consequences
  • examples

Uncertainty and Risks

  • models of uncertainty
  • analytical and simulation techniques
  • effects of risk perception
  • examples to illustrate effects of uncertainty

Discount Rates

  • market and non-market risks
  • the capital asset pricing model
  • discount rates used in industry
  • treatment of non-market risks

Real Options

  • types of real options
  • mine valuation by real options
  • real options as a design paradigm (real options in real mines)
  • examples

Spreadsheet models showing the methodologies employed and examples will be provided.

How to Register

To register yourself, click the ‘Register Now’ button and complete the online registration form.
To register on behalf of someone else, or to register groups of 2 or more, please contact us; discounts may apply.

Questions? Please contact EduMine: +1 604 683 2037 or [email protected] and we will get back to you during regular business hours, Monday - Friday, 8:00am to 5:00pm Pacific Time.

Fees

The fee covers the lecture, access to Pre-Course e-Learning, 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 prior to 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. The maximum discount that can be applied is 20%.

Venue

The course will be held at the DoubleTree by Hilton Toronto Downtown which is located at 108 Chestnut Street in downtown Toronto.

Hotel Accommodation

If you need to make hotel reservations, we recommend the following hotel. When making reservations, be sure to ask for the “InfoMine corporate rate”, or book through the one-click reservation link noted below.

  • Situated at the crossroads of Toronto’s financial, research and entertainment districts, the newly refreshed DoubleTree by Hilton Toronto Downtown offers a quiet retreat set amongst a vibrant urban locale. With 486 guestrooms and suites the hotel is ideally suited for modern business professionals and leisure seekers alike. You won’t even need to leave the hotel lobby to enjoy some of Toronto’s finest dining experiences. Hemispheres Restaurant & Bistro presents an eminently delicious menu with a tranquil backdrop, while the award winning Lai Wah Heen offers the height of Chinese cuisine in an exquisite setting. DoubleTree by Hilton Toronto Downtown provides easy access to Pearson International Airport, and is equipped with an newly refreshed indoor pool and expanded Precor fitness centre, business centre, and wireless high speed internet access.
    The Hotel’s website is: http://www.torontodowntown.doubletree.com
    Book your room online through our personal InfoMine corporate rate link (room rate includes internet access).

Terms and Conditions

By submitting a short course registration form, you agree to pay the associated fees in full before the course start date.

Cancellations

Notice of cancellation must be given in writing by letter, fax or email and action will be taken to recover, from the delegates or their employers, that portion of the fee owing at the time of cancellation.

A 10% administration fee will be levied for cancellations made 10 or more business days prior to the first day of the course. Cancellations thereafter will be liable for the loss of the full fee.

EduMine reserves the right to cancel an advertised course on 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 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.