Cost Estimating for Mining Prefeasibility Studies

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.

UBC Certificate in Mining Studies

This course qualifies for three 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?

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

**Time
29 November - 1 December 2012 8:15-17:00 Pacific Standard Time