ABOUT THE COURSE:Mineral Economics and Business combines the study of economic principles with the mining industry. It involves understanding how minerals and other natural resources impact economies, businesses, and markets. In this course, the participants will learn how mineral resources are managed, traded, and regulated, and their impact on global and local economies. One will gain insights into market dynamics, financial modeling, and the sustainable practices necessary for responsible resource management. Through case studies and real-world applications, they will develop the skills to analyze investment opportunities and navigate the complex landscape of mineral economics. Prepare to engage with cutting- edge industry trends and contribute to innovative solutions in the field.INTENDED AUDIENCE: Students of Mining Engineering and Geo-sciencesPREREQUISITES: Compulsory: Introduction to mining engineering, Desirable: Underground coal Mining, Underground Metal Mining, Surface MiningINDUSTRY SUPPORT: All Public and Private Sector Mining Companies
Overview
Syllabus
Week 1: Mineral industry: Public and Private Entrepreneurship;
Organization of mining enterprises;
Mineral resources and reserves, Mineral resource estimation techniques;Week 2:United Nations Framework Classification for Resources(UNFC) and JORC classification,
Economic minerals, Critical minerals in the development of nation;Week 3:Techno-economic feasibility studies;
Cut-off grade, dilution and recovery, mineral conservation and development;Week 4:Time value of money,Week 5:Determining appropriate discount rate;Week 6:Consumer price index, Effects and inflation, Real and nominal interest rates;Week 7:Discounted cash-flow concept, Net present value and Internal Rate of Return (IRR),Week 8:Cost-accounting in mining operations, Cost-volume-profit analysis, Depreciation and Amortization;Week 9:Introduction to mining finance, non-banking mine finances and stock operations; Quantification and management of mining investment risk.Week 10:Coal grade and pricing, Average Sale Price (ASP) fixing for metalliferous ores
Mining lease, Mineral auction, Cost of mine closure;Week 11:Taxation system applied to the mining industry, National Mineral Policy;Week 12:Introduction to mineral trade and business management.
Organization of mining enterprises;
Mineral resources and reserves, Mineral resource estimation techniques;Week 2:United Nations Framework Classification for Resources(UNFC) and JORC classification,
Economic minerals, Critical minerals in the development of nation;Week 3:Techno-economic feasibility studies;
Cut-off grade, dilution and recovery, mineral conservation and development;Week 4:Time value of money,Week 5:Determining appropriate discount rate;Week 6:Consumer price index, Effects and inflation, Real and nominal interest rates;Week 7:Discounted cash-flow concept, Net present value and Internal Rate of Return (IRR),Week 8:Cost-accounting in mining operations, Cost-volume-profit analysis, Depreciation and Amortization;Week 9:Introduction to mining finance, non-banking mine finances and stock operations; Quantification and management of mining investment risk.Week 10:Coal grade and pricing, Average Sale Price (ASP) fixing for metalliferous ores
Mining lease, Mineral auction, Cost of mine closure;Week 11:Taxation system applied to the mining industry, National Mineral Policy;Week 12:Introduction to mineral trade and business management.
Taught by
Prof. Bibhuti Bhusan Mandal, Prof. Shantanu Kumar Patel
