September 24-25, 2016, 8 a.m.-5 p.m.
Developing a mine is a time consuming and expensive business. It can take decades of geological, financial, and environmental studies to determine whether there is enough quantity of a material at an acceptable quality to support a profitable business. Often risks and opportunities associated with the estimated resources for mining projects are not fully understood, not recognized on time, or ignored, which can lead to potential failure of the project. Risk due to underestimation or over estimation of grades and tonnages can certainly be a major factor that compromises the projected financial health of the mining project.
Mathematical modeling can improve confidence in strategic resource estimation. Models must be detailed, have justifiable parameters, and be validated. Evaluating risks and opportunities via a resource model will lead to actions that result in:
- Reducing cost by minimizing uncertainties in production
- Optimizing investment opportunities by realizing opportunities
- Possibilities of maximizing the value of the projected resources using more than one indicator.
Attend Strategic Resource Estimation for Mining Project Development before the 2016 MINExpo International to gain practical knowledge of best practices in mining resource estimation. Utilizing anonymous case studies based on real data, participants will learn to assess various risks and opportunities associated with resource estimation in typical exploration and mining projects. The application of international codes for reporting will also be discussed. This course offers geologists and mining engineers improved methods to quantify project risks in the early stages of project development, saving companies from potential loss in value.
Attendees will utilize case studies and sample data to gain hands-on experience with advanced geological and financial modeling tools to determine the economic feasibility of extracting ore from a proposed site. Modeling tools will reveal how even slight variations in geological sampling data or financial assumptions can affect assessment of a mine’s net present value, internal rate of return, or payback period.
- Project cycle
- Resource estimation at various stages of the project
- Lessons from industry practice
- Resource models and resource estimation
- Components of a resource model
- Introduction to international reporting standards
- Elaboration of resource estimation process: database quality, geology model, interpolation, cutoff grade, reporting
- Explanation of “eventual economic extraction”
- Resource model validation
- Advanced techniques in resource modeling
Dr. Abani Samal has nearly 20 years experience in various commodities including gold, iron ore, Cu-Mo-Au-Ag, and Pb-Zn-Ag deposits around the world. His contributions to the mining industry are well recognized through his publications and presentations of his research at various national and international conferences. Dr. Samal has extensive training (MS and PhD) in economic geology and geostatistics. He is acknowledged as an expert in advanced geostatistics and mineral resource estimation. Dr. Samal is a registered member of SME, a Certified Professional Geologist (CPG), and a fellow of the Society for Economic Geologists (SEG). He is an adjunct associate professor at University of Utah.
Registrants are responsible for their own travel arrangements, transportation, lodging, and meals. A catered lunch will be provided daily. There are many hotels located near the university, and the Las Vegas Strip and Las Vegas Convention Center are minutes away.
Dates: Saturday, Sept. 24-Sunday, Sept. 25
Time: 8 a.m.-5 p.m.
Registration fee: $1,599*
*Limited time discounts are available:
Course #: 163MI1100
Location: UNLV Paradise Campus,
851 E. Tropicana, Las Vegas, NV 89119