Estimating Costs for Mining Prefeasibility Studies
Introduction
If you are an exploration geologist, a mining engineer, a metallurgist, a mine accountant, or a practitioner of any of a number of other mining-related specialties, at some time you will be asked to do a cost estimate. Mining is an economic endeavor, and, after safety, the cost of mining and its related processes is one of the most important considerations in that endeavor.
This course introduces you to the methodologies of mining cost estimating, and prepares you to complete a credible estimate. The course focuses on itemized cost estimating methods in the context of a mine plan. It covers the costs of excavating, loading, hauling, drilling and auxiliary equipment as well as the costs of supply, personnel, stripping and other requirements.
This is a premium course which has been peer-reviewed by a committee appointed by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) and the Society for Mining, Metallurgy and Exploration (SME).
The course is presented in seven parts:
- Part 1 - Introduction to Cost Estimating
- Part 2 - Itemized Cost Estimation: Planning
- Part 3 - Itemized Cost Estimating: Equipment
- Part 4 - Itemized Cost Estimating: Auxiliary Equipment and Supply
- Part 5 - Itemized Cost Estimating: Requirements and Costs
- Part 6 - Useful Techniques
- Part 7 - Other Cost Estimating Methods
Recommended Background
A degree or diploma in a mining-related discipline and and direct experience and knowledge of the mining process.
Course Content
The course comprises 23 viewing sessions of 30 - 60 minutes each, plus seven reviews of multiple choice questions. Estimated course duration is equivalent to approximately 15 hours of learning content.
Learning Outcomes
- Identify and discuss the itemized cost estimating method, and other methods, as they pertain to excavating, loading, hauling, drilling and auxiliary equipment as well as the costs of supply, personnel, stripping and other requirements.
- Prepare a credible cost estimate based on a mine plan and the itemized cost estimating method.
Duration: 15 hours
Category: Financial
Level: Advanced