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Mining Economics and Strategy

Economic skill is an essential partner to technical skill in every step of the mining process. This book will help effectively direct mining operations through the use of innovative economic strategies.

The text discusses what is meant by a cost-effective mining scheme, the economics of information, and the procedures for rational evaluation of uncertain projects. It defines ore from an economic perspective and covers the influence of scheduling on ore reserves. Discounted cash flow (DCF) techniques, the application of DCF techniques in an operating mine environment, the differences between economic decision making (a forward-looking activity) and the reporting of results via accounting methods (a backward-looking activity), as well as capital and decision-making procedures associated with capital investments in a risk environment, are also addressed.

By Ian C. Runge. Published by SME in 1998, updated in 2003. 316 pages.

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