Course Codes
Curtin Run as 2 courses Resource Estimation 310044, Project Evaluation 309991
UNSW MINE3220
UQ MINE3120
Course Convenor
Dr Serkan Saydam
Node Leaders
Curtin Dr Emmanuel Chanda
UNSW Mr Ed Malone, Dr Serkan Saydam
UQ Dr Erkan Topal
This course covers processes involved in resource estimation. Resource and reserve estimation of coal and metalliferous deposits. Sampling methodology, basis of preparation and reliability of resources and reserves, with particular reference to the JORC code grade control/mine to mill. Merits of various estimation methods and relevance to specific mineral deposits. Impact of geologic uncertainty on project risk. Mining capital, operating costs and revenue, DCF evaluation, commodity markets, financing, sensitivity analysis, cut-off grades, evaluation of operational alternatives. Financial Technical Modelling (FTM) in project evaluation.
Resource Estimation is intended to enable students to:
- Create Coal resource models and metalliferous resource block models from exploration datasets using appropriate software tools by applying broad principles of resource estimation, in the context of available geological data.
- Appreciate the merits and drawbacks of various modelling methods relevant to specific mineral deposit types.
- Select the sampling methodologies applicable to different mineral resource types, including estimation of fundamental sampling errors.
- Demonstrate an awareness of the impact of geological uncertainty on resource estimation.
- Report resources and reserves using the JORC code.
- Appreciate the role of Geostatistics in grade interpolation and resource estimation.
Project Evaluation is intended to enable students to:
- Create realistic, properly integrated financial/technical discounted cash flow models of mining projects, based on defensible cost and revenue assumptions, and permitting sensitivity analysis to identify the critical assumptions and rank them in terms of their impacts on project outcomes.
- Demonstrate an appreciation of the time value of money, discount rates, commodity markets, the required rate of return to equity, the role of debt, the weighted average cost of capital and the impact of the economic environment on mining operations and planning.
- Use discounted cash flow methods to evaluate operational alternatives and to carry out preliminary economic optimisation.
