Foundations: An Introduction to Mine Economics 

Foundations: for graduate and early-career Mining Engineers and transitioning mining technical professionals. 

In this course, we discover the foundations of mine economic theory and why mine economic theory is used to maximise the value of a mine. Learners will consider the foundations of first principle costing for economic evaluations, and how uncertainty and non-financial factors impact economic decisions faced in a mining operation.

  • Course Duration

    4 professional
    development hours

  • Real World Applications

    Developed with
    industry experts 

  • Graduate Level

    0-3 years experience

  • Video Playtime

    15 minutes

What's Included

KEY TECHNICAL SKILL

Apply 'first principles' to a basic economic analysis in a mining scenario.

LEARNING OBJECTIVES

  • Describe the two types of economic models and the 'first principle' approach to input development.
  • Recall the importance of uncertainty (and confidence) and how it can affect an operation.
  • Describe why profit is not the only driver of economic decisions.
By the end of the course, you will be able to conduct a small economic analysis of your own organisation!
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Video

Learn the ropes through a mix of video and written content.

Text Material

Learn the techniques used by real-life industry experts.

Blended Learning

Apply learnings to your organisation's systems and processes with the included Workplace Learning Guide.

Assessments

Test your understanding against realistic scenarios so you can excel as a professional in your field.