Provisional Schedule
Instruction will take place from 9:00AM to 5:00PM on the first and second day, with a lunch break from noon to 1:00PM and 15 minute snack breaks in mid-morning and mid-afternoon, and from 9:00AM to 12:00PM on the third day. Topics covered will include the following:
Day 1: 23 February, 2012
Introduction to Mine Cost Estimating:
- Why estimate costs
- Engineering based, itemized estimates
Itemized Cost Estimating:
- Mine Planning Considerations:
- Introduction
- Mine plan
- Production rates
- Haulage paths and distances
-
Equipment Selection:
- Excavating/Loading
- Hauling
- Drilling
-
Auxiliary Equipment and Supply Needs:
- Hoisting, ventilation, and pumping
- Supplies
- Auxiliary equipment needs
Day 2: 24 February, 2012
Itemized Cost Estimating (continued):
- Rounding Out the Estimate:
- Personnel requirements and burden
- Preproduction stripping and haul road construction requirements
- Buildings and structures
- Haul road construction requirements
- Underground development
- Mineral processing
- The Final Steps:
- Determine unit pricing and costs
- Operating cost summary
- Capital cost summary
- Sherpa Mine Cost Estimating software
- Spreadsheet-based modeling
- Useful Estimating Tools:
- Cost indexes
- Scaling factors
- Geometric regression analysis
- Real World Applications:
- Reliability vs. accuracy
- Geology and site characteristics
- What it costs vs. what we pay
Day 3: 25 February, 2012
Economic Evaluation:
- Net Present Value:
- Commodity values
- Discounted cash flows
- Apex Software for Economic Evaluation
- Comparative analyses
- The impact of project delays
- Risk Assessment:
- Sources of uncertainty
- Bracketing unknown costs and determining distributions
- Monte Carlo Risk Assessment
