Mineral Property Evaluation

Catalog description

Ore reserve estimation using statistics and geostatistics, mine cost estimation, engineering economy concepts applied to mineral deposits. Students are prepared for a comprehensive understanding of how a resource or reserve is assessed in the mining industry. The students learn the following topics: background of mineral exploration (requirements for exploration and data collection, as well as exploration tools and techniques), manual techniques for ore reserve evaluation, computer methods for geostatistics (inverse distance, kriging, and block modeling concepts), reporting (scoping, prefeasibility study, and feasibility study), the time value of money (present, annual, and future value; and rate or return), project evaluation (mutually exclusive and non-mutually exclusive projects), depreciation, depletion, amortization, after tax cash flow, discounted cash flow analysis, after tax investment decision, and uncertainty and risk analysis.