Prefeasibility Cost Estimating and Economic Evaluation

Summary

This course examines the procedures used to produce itemized cost estimates as they are applied to prefeasibility-level mine project analyses, and prepares you to complete a credible evaluation.  Efficient techniques for estimating costs using basic engineering principles are emphasized.  Multiple examples of capital and operating cost estimates for surface mines, underground mines, and mineral processing plants are presented to demonstrate how the procedures are applied.  The techniques necessary to select equipment fleets, determine supply requirements, and specify personnel needs are all presented.  Both spreadsheet-based modeling and the Sherpa Cost Estimating System are demonstrated for comparison to the manual methods described.  Project economic evaluation principles are also detailed with an emphasis on using discounted cash flow analysis for making exploration and project design decisions.

Student involvement will be encouraged through discussion of the students’ previous estimating experiences (if any) and through critique of the methods presented in the class.  In addition, students will be asked to work problems and should anticipate spending about 20% of their time in class doing so. 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 Estimating the Cost of Mining.

UBC Certificate in Mining Studies

This course qualifies for two 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)

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?

The course is appropriate for engineers, geologists, mineral economists and others with a basic understanding of mineral resources and mining.