Estimating Costs for Mining Prefeasibility Studies

2 modules


Course Length
15 hours

Edumine Courses

14 Feb 2024



If you are an exploration geologist, a mining engineer, a metallurgist, a mine accountant, or a practitioner of any of a number of other mining-related specialties, at some time you will be asked to do a cost estimate. Mining is an economic endeavor, and, after safety, the cost of mining and its related processes is one of the most important considerations in that endeavor.

This course introduces you to the methodologies of mining cost estimating, and prepares you to complete a credible estimate. The course focuses on itemized cost estimating methods in the context of a mine plan. It covers the costs of excavating, loading, hauling, drilling and auxiliary equipment as well as the costs of supply, personnel, stripping and other requirements.

This is a premium course which has been peer-reviewed by a committee appointed by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) and the Society for Mining, Metallurgy and Exploration (SME).


  • Otto Schumacher


Duration: 15 Hours
Access: 90 Days
Category: Financial
Level: Specialize
Version Date: July 29, 2015

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Course Content

The course is presented in seven parts:

  • Part 1 - Introduction to Cost Estimating
  • Part 2 - Itemized Cost Estimation: Planning
  • Part 3 - Itemized Cost Estimating: Equipment
  • Part 4 - Itemized Cost Estimating: Auxiliary Equipment and Supply
  • Part 5 - Itemized Cost Estimating: Requirements and Costs
  • Part 6 - Useful Techniques
  • Part 7 - Other Cost Estimating Methods

The course comprises 23 viewing sessions of 30 - 60 minutes each, plus seven reviews of multiple choice questions. Estimated course duration is equivalent to approximately 15 hours of learning content.

Learning Outcomes

  • Identify and discuss the itemized cost estimating method, and other methods, as they pertain to excavating, loading, hauling, drilling and auxiliary equipment as well as the costs of supply, personnel, stripping and other requirements.
  • Prepare a credible cost estimate based on a mine plan and the itemized cost estimating method.

Recommended Background

  • A degree or diploma in a mining-related discipline and and direct experience and knowledge of the mining process.


By completing/passing this course, you will attain the certificate Edumine Certification

Learning Credits

Estimating Costs for Mining Prefeasibility Studies
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Learner Feedback
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Added 10 days ago, by Sitwala
Great course. Needs to include more of Underground cost estimation
Added 18 days ago, by Eric
Added 22 days ago, by Kalimina
Added about 1 year ago, by Patrick
Added about 1 year ago, by Anonymous
I am happy to follow this training because it has added more to my professional career.
Added over 2 years ago, by Jean
Added almost 3 years ago, by Cesar
Added over 3 years ago, by Troy
Added over 3 years ago, by Jie
Added almost 4 years ago, by Richard
The course title is somewhat misleading. Many consulting firms and companies consider a prefeasibility study to be synonymous with what this course calls a preliminary feasibility study. The level of detail in the course is therefore less than I expected. It's still a good review, however.

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