MNG 412Mineral Property Evaluation
Ore reserve estimation using statistics and geostatistics, mine cost estimation, engineering economy concepts applied to mineral deposits. Students are prepared for a comprehensive understanding of how a resource or reserve is assessed in the mining industry. The students learn the following topics: background of mineral exploration (requirements for exploration and data collection, as well as exploration tools and techniques), manual techniques for ore reserve evaluation, computer methods for geostatistics (inverse distance, kriging, and block modeling concepts), reporting (scoping, prefeasibility study, and feasibility study), the time value of money (present, annual, and future value; and rate or return), project evaluation (mutually exclusive and non-mutually exclusive projects), depreciation, depletion, amortization, after tax cash flow, discounted cash flow analysis, after tax investment decision, and uncertainty and risk analysis.
Prerequisites
From the catalog: “STAT 401 Enforced Concurrent at Enrollment: MNG 230”
Where it sits in degree plans
Suggested plans most often put it in Year 3 · Fall (1 program).
Required in (1)
- Mining Engineering, Minor
Courses that list MNG 412 as a prerequisite (1)
- MNG 451W Mining Engineering Project