2 day course/workshop strategic open pit mine project evaluation

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2 day course/workshop strategic open pit mine project evaluation
ADVANCED PROJECT AND FINANCIAL ENGINEERING
2 DAY COURSE/WORKSHOP
STRATEGIC OPEN PIT MINE PROJECT EVALUATION
MiningMath Associates and Universidade Federal de Campina Grande have
partnered with Rompev Pty Ltd to bring to you “Strategic Open Pit Mine Project
Evaluation”.
This 2 day course/workshop will be of particular interest to mining managers and
analysts, geologists and engineers, fund and asset managers, bankers, development
planning engineers, exploration managers and other specialists who are regularly
involved in the evaluation of open pit mine projects.
Starting from the principles of ore grade and economic block modelling, open pit
mine plan and design, and economic analysis, this workshop also shows delegates
how to evaluate a mine project under conditions of uncertainty.
Course Outline
 Understanding the principles of orebody modelling – resource/reserve estimation
 Principles of economic block model – ore or waste?
 Understanding the principles of open pit mine planning, design and evaluation
 Understanding open pit mine plan and design concepts such as ultimate pit limits
and cutback design
 Understanding long term/short term production scheduling, pit shell generation
and revenue factors, mining processing adjustment factors
 Understanding the basics of the mine evaluation process such as the Discounted
Cash Flow (DCF), Net Present Value (NPV), Internal Rate of Return (IRR) and
Payback period
 Introduction to cut-off grade and cut-off grade optimisation
 Run a sensitivity analysis on key project indicators
 Output final mine project results using Excel for further economic analysis
 Introduction to Crystal Ball Software and Monte Carlo analysis
 Run a risk analysis on key project indicators using Monte Carlo simulation
 Reporting final results
Contact us: (31) 4062-7094 or [email protected]
ADVANCED PROJECT AND FINANCIAL ENGINEERING
Course Structure Flow
Day 1
Morning – Part 1
Understanding Block grade/economic
model (theory session)



Workshop 1: Estimating block model
Block grade model - block grade estimation,
introduction to kriging
Block grade model characteristics
Block economic model – block value
estimation
Morning – Part 2
Understanding open pit mine planning
and design (Session 1- Theory)




Open pit mine plan and design – the floating
cone and the Lerchs-Grossmann algorithms –
basics. Setting up slope angles
Pit shells and economic factors – definitions
Ultimate pit selection – cutback selection
analysis – traditional techniques.
Production scheduling: From worst case
scheduling to best design – Here we will
remark the importance of optimisation when
doing long-term scheduling.
Afternoon – Part 1
Workshop 2: Understanding open pit
mine plan and design using a 2D gold
orebody model in Excel


Participants are given the opportunity to
practice, understand and visualise the
process of planning and designing an open
pit mine project using a simple 2 dimensional
gold block model
The ultimate pit and production scheduling
mine design are based on the floating cone
algorithm
Afternoon – Part 2
Understanding open pit mine project
valuation (theory session)



Workshop 3: Building a cash flow model

Building a cash flow spread sheet analysis for
project evaluation
Understanding the Discounted Cash Flow
(DCF) analysis
Understanding the discount rate as the
Weighted Average Cost of Capital – basics
Understanding the Net Present Value (NPV),
Internal Rate of Return (IRR) and Payback
Period (PBP)- definitions
Contact us: (31) 4062-7094 or [email protected]
ADVANCED PROJECT AND FINANCIAL ENGINEERING
Day 2
Morning – Part 1
Open pit mine project evaluation Continuation
Summary of previous day - generalities
 Introduction to cut-off grade
 Cut-off grade optimisation
 Cost modelling analysis – Identifying sources
of cost – introduction to Pareto analysis
 Identifying sources of uncertainty Sensitivity Analysis
Morning – Part 2
Workshop 4: Understanding Cut-off
grade analysis



Sensitivity analysis
Identifying sources of uncertainty generating spider charts
Analysis of final results
Afternoon – Part 1
Understanding Risk analysis (theory
session)



Uncertainty, risk and upside potential definitions
Introduction to Monte Carlo and Risk
Analysis - basics.
Introduction to Crystal Ball software tool
Afternoon – Part 2
Workshop 5: Implementing Risk
analysis on the copper- gold mine project
– Excel
Here the attendees will have the opportunity to
run both a sensitivity and risk analysis on the
copper/gold project
 Estimate Base case project value based on
risk analysis – discussion
Contact us: (31) 4062-7094 or [email protected]

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