MINE2005

MINE2005: Mine Economics

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Which units require MINE2005?

MINE2005 is a prerequisite for 1 unit.

MINE3006

What is MINE2005 about?

In this unit students will be introduced to the fundamentals of mining economics, including project evaluation and economic decision- making techniques used in the mining industry. Students will study mineral and energy markets and the concept of supply and demand. They will also learn about approaches to quantifying economic risk components associated with mining, such as financial and technical uncertainty and environmental and social risks. Students will develop their knowledge and skills in estimating the full cost of capital and operating expenditure associated with developing, operating and closing a mine. They will learn how to use discounted cash flow and real option analysis methods as tools to adapt and revise economic valuations of mining projects under uncertain and fluctuating conditions.

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Unit details

Credits25

Contact Hours5 Weekly

Result TypeGrade/Mark

AreaWASM: Minerals, Energy and Chemical Engineering (WASM-MECE) (1155)

Field of Education030303 Mining Engineering

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How this unit is taught

Workshop2 x 2 hours weekly
Fieldwork1 x 14 hours semesterly