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
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
- Apply economic criteria to real-life decision-making