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An Introduction to Modelling Metal Project Finance serves as an introduction to the critical issues associated with the debt financing of mining projects. The aims and objectives of project financing are discussed with an overview of the steps leading up to application. The course is aimed at professionals throughout the mining industry and assumes a basic appreciation of the main financial parameters. Logical guidelines on how to construct a preliminary level cash flow model of project finance are provided, with descriptions of the major input variables. Nickel and platinum are used as example commodities with which to demonstrate the principles of modelling project finance. A background discussion on the technical aspects and major costs involved in developing a large-scale open pit nickel mining project is followed by a step by step guide to the development of a financial model of the project using the financial modelling software tool IC-MinEval. Similarly, background discussion on platinum mining is followed by a step by step guide to developing a financial model of an underground platinum mining project using IC-MinEval. The workbooks generated by IC-MinEval are also included as downloadable spreadsheets for each worked example. A case example is included from Prof. Buchanan's book, Metals and Energy Finance (2018). Authors Prof. Dennis Buchanan Dr. Mark Heyhoe Prof. Tim Shaw   Duration: 10 Hours Access: 90 Days Category: Financial Level: Cross train Version Date: January 10, 2019 Read More

A tenet of investment is that if the risks of an investment are high, then the investor should be compensated for assuming the risks by a high potential return from the investment. However, quite often the risks associated with an investment are not known or understood. The results vary but may include an investment evaluation that is not representative, a bad investment decision, and low returns or even losses. Inadequate technical or financial information is the main reason risks are not taken into account or are misunderstood. Unfortunately, lack of such information is a common situation in mining and other large industrial projects. No amount of investment evaluation or analysis can compensate for lack of information. If the risks are known and can be characterized in some way, methods of investment analysis can be used to provide a quantitative assessment of the risks. One goal of this course is to describe methods for risk quantification, their advantages and limitations, and to give realistic (if not real) examples of their application. Fortunately these methods are simple so that complete evaluation of an investment is (or at least should be) a simple process. Topics covered in this course include: Revenues, Costs and Cash Flows Discount Rates Project Financing Metal Prices and Markets Mining Costs Uncertainties Real Options Authors Dr. Scott Dunbar   Duration 18 hours Access 90 Days Category Financial Level Specialize Version Date May 23, 2012 ​Need to train a team? Whether you're looking for a customized training program or developing a team, we have enterprise solutions to fit your needs. Learn More Read More

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). Authors Otto Schumacher   Duration: 15 Hours Access: 90 Days Category: Financial Level: Specialize Version Date: July 29, 2015 ​Need to train a team? Whether you're looking for a customized training program or developing a team, we have enterprise solutions to fit your needs. Learn More   Read More

About the Course This course covers Environmental, Social and Governance (ESG) components and their impact on the mining value chain. Participants will learn about the various stages of the mining process, from exploration to closure, and the different ESG threats and opportunities associated with each stage. Learners will also gain a deeper understanding of ESG regulations, standards and reporting requirements, and how these are changing the mining industry. Case studies and real-world examples will be used to illustrate the practical application of ESG across the mining value chain. The course is designed for professionals in the mining industry, as well as those with an interest in ESG and sustainable business practices.   About the Audience  This course explores concepts that will be useful for those seeking a robust understanding of ESG considerations at each stage of the mining value chain and is suitable for intermediate levels.  Examples of those who may be interested include: investors, geologists, chemists, engineers, government officials, regulators, data scientists, policy setters, non-governmental organizations, procurement specialists, academics, finance professionals, sustainability experts, lawyers, and administrative staff.    Recommended Background  We recommend “Introduction to ESG” to give learners a baseline understanding of Environmental, Social and Governance concepts.  Course Details Authors  Dr. Sarah Gordon  Dr. Rose Clarke     Duration:        4 Hours  Access:           90 Days  Category:       Mining  Level:  Intermediate  Version Date: March 1, 2023  Delivery Format: On-Demand   Need to train a team?  Whether you're looking for a customized training program or developing a team, we have enterprise solutions to fit your needs.  Learn More  Read More

This course is aimed at helping those who wish to read and interpret the financial statements of mining companies. It assumes the reader has no formal training or background in accounting but does have a general interest in business with a leaning towards mining. Furthermore, this course assumes a managerial or investor approach rather than that of accountant or bookkeeper. We look at financial statements for their organization, information content and limitations. In short, you will not learn any bookkeeping or debits and credits but rather you will see numerical data and narrative-based descriptions prepared by mining companies. You will learn to use various analytical tools. Simplified fictional examples and actual published reports are used to illustrate various concepts. A brief glossary and a source of further information appear in an Appendix. The course has six primary topics as follows, separated into three parts. This course was formerly entitled Understanding Financial Statements of Mining Companies Under IASB and FASB Regulations. Part 1 Introduction to Accounting and Financial Reports The Statement of Financial Position Part 2 The Statement of Income Part 3 The Cash Flow Statement The Statement of Changes in Equity Notes and Analytical Tools Accounting Standards Financial reporting today is governed by essentially two sets of accounting regulations—those of the United States, through its Financial Accounting Standards Board (FASB), and those of the International Accounting Standards Board (IASB). In this course, both sets of regulations are treated as one agreed-upon set of concepts, principles and guidelines where appropriate. Differences are highlighted wherever they occur. Where there is agreement or the differences are minimal, the common term GAAP is used, which stands for Generally Accepted Accounting Principles. Authors Alain Duncan   Duration 7 Hours Access 90 Days Category Financial Level Cross Train Version Date December 4, 2013 ​Need to train a team? Whether you're looking for a customized training program or developing a team, we have enterprise solutions to fit your needs. Learn More Read More

Traditional mining project appraisal—discounted cash flow (DCF)—typically involves the use of static variables that remain unchanged across project life and the use of a constant discount rate to account for risk, which ultimately provides a singular view of project value across time. Such a passive management approach is fast becoming outdated. Modern project appraisal should be dynamic and flexible to accommodate changing market conditions by constantly evaluating options to abandon, defer, open or expand a project while managing risk. This course introduces and explores modern project appraisal techniques with a view to increasing expected value. Scope This course focuses on the use of modern project appraisal techniques culminating in the introduction of real option valuation (ROV) applied to mining projects. While traditional project appraisal concepts form the basis for the modern approach discussed, the in-depth use of these remain beyond the scope of this course. It is recommended that participants complete the Introductory Mining Project Evaluationcourse (see Related Courses tab) for a full account and discussion of traditional project appraisal concepts. Authors Dr. Micah Nehring Ph.D. Dr. Sean Shafiee Ph.D.   Duration 17 Hours Access 90 Days Category Financial Level Specialize Version Date June 29, 2016 ​Need to train a team? Whether you're looking for a customized training program or developing a team, we have enterprise solutions to fit your needs. Learn More Read More

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