DATE: Starts Summer 2010

TIME: TBA

INSTRUCTOR: Roussos Dimitrakopoulos, McGill University, Canada

FLYER: Click here to download

CONTENT & OBJECTIVES:

Certification in Ore Reserve Risk and Mine Planning Optimization is designed for busy mining professionals who wish to update their skills and knowledge base in modern modeling techniques for ore bodies and optimization methodologies for strategic mine planning. Emphasis is placed on ore reserve risk management and its effective integration to mine planning, an element that has been shown to have a significant, positive impact on a company's bottom line.

The program offers the option for remote, distance attendance for a limited number of participants. Its four weeks of engagement with the topic are spread over a period of four months and include lectures, assignments and a main project.

1. Learn through a new integrated way both the concepts and methods for the geo-statistical modeling of ore-bodies and the optimization of mine design and life-of-mine production planning;
   • To accomplish this, the course covers established methods to build up to the presentation of a new generation of applied technologies dealing with geological risk and its substantial effects on ore reserves, strategic planning, optimization, risk management and profitability;
     
     
2. Learn through substantial hands-on the practice of the concepts and technical methods first covered at depth;
   • This is accomplished through actual case studies, assignments and a major project, pertinent to the feasibility, design, development and planning stages of mining ventures, as well as the financial optimization of relevant aspects of mine production;

PROGRAM OUTLINE

Topics covered include:

• Methods for modeling ore-bodies;
• Optimization techniques;
• Advancing from conventional ore-body modeling: Case studies and models of geological uncertainty;
• Moving forward from traditional optimization: Case studies in mine planning with risk management and integration of geological uncertainty;
• Geological risk management and demand-driven production scheduling;
• Methods to further integrate market uncertainties in mine planning decisions.

For more details please visit www.mcgill.ca/conted/prodep/ore/

DATE: June 1-4, 2010

TIME: 9:00 AM to 5:00 PM

INSTRUCTORS: Roussos Dimitrakopoulos, McGill University, Canada, Gelson Batista, AMEC, Gerald Whittle, Whittle Consulting Pty Ltd.

FLYER: Click here to download

CONTENT & OBJECTIVES:

At a time of growing uncertainty in global markets, learn how to add substantial value and significantly impact your company’s projects and bottom line by utilizing strategic mine planning under uncertain conditions and global optimization methods:

• Find out how to minimise risks and produce optimal pit designs with: Strategic mine planning processes, next generation optimization methods, and Whittle software
• Discover how new developments will help you capture the “upside potential” in mine designs and minimise “downside risks” as well as increase cash flows through the effect of the mining sequence and “risk blending”
• Explore real-world examples and participate in handson computer sessions that show how to increase project value by employing new risk-based (stochastic) optimization models
• Understand the critical effects of global asset optimization

LEARN HOW YOU CAN IMPROVE OPERATIONAL PERFORMANCE BY:

• Linking the art of strategic planning with the science of optimization and mining engineering
• Applying optimization to open pit mine design and long-term sequencing
• Improving stockpiles, buffers, blending and grade of stockpiles
• Incorporating jointly market (demand) and grade (supply) uncertainties into optimization
• Maximizing mining and mineral process asset portfolios

OPTIONAL 1/2 DAY WHITTLE REFRESHER SKILLS WORKSHOP – (at no extra cost)
June 1st, 2010

The half day refresher workshop is offered to course participants who have not been exposed to Whittle software before, or who desire a refresher in their Whittle software skill.

The computer workshops that form part of the three day seminar are based on intermediate level Whittle skills. The refresher workshop is offered (free of charge) to all participants as an opportunity to provide basic skills that will facilitate the learning’s offered during the three day seminar. At the completion of the workshop, participants will be familiar with the user interface for Whittle software. Participants will be able to create a project, run an optimization and analyze the results. The completion of the refresher workshop will enable the participant to concentrate on advanced concepts and techniques introduced during the three day seminar.

COURSE OUTLINE

• Introduction: Risk in Mining
• Strategic Planning in the Corporate Environment
• Optimization Techniques
• Scheduling with Whittle
• Risk Managing and Demand-Driven Production Scheduling
• Risk-Based Block Values and Optimization
• Moving Forward from Traditional Optimization
• Ore/Waste Discrimination
• Economic Evaluation with Uncertain Supply and Demand
• Global Optimization
• Other Topics - Time Permitting
• Computer Workshops

WHO SHOULD ATTEND

• Mine managers
• Mining engineers
• Mine geologists

It is strongly recommended that participants bring a laptop.

DATE: September 8-10, 2010

TIME: 9:00 AM to 5:00 PM

INSTRUCTORS: Jean-Michel Rendu

FLYER: Click here to download

CONTENT & OBJECTIVES:

Cutoff grades are essential in determining the economic feasibility and mine life of a project. The fundamentals of cutoff grade calculation, first established by Ken Lane forty years ago, are revisited. In this course it is shown how direct and indirect costs, opportunity costs imposed by operational constraints, and other factors, such as political risk, legal, environmental, and regulatory requirements, must be taken into account. Mathematical equations are developed and graphical analytical methods are displayed, which can be used to solve most cutoff grade estimation problems. It is shown how minimum cutoff grades are estimated and how they must be modified to take into account constraints imposed by mine or mill capacity, or by limits on sales volumes. Multiple practical examples are given, illustrating the role of cutoff grades in mine planning, in allocating material to different processes, in optimizing mill operating conditions, and in poly-metallic deposits. Examples also show the relationship between cutoff grades and the design of pushbacks in open pit mines, the development of new stopes in underground selective mining, and the optimization of block sizes in caving methods. The relationship between mine selectivity, deposit modeling, ore control and cutoff grade is also discussed. Included in the course of registration is a copy of the instructor’s book “An Introduction to Cutoff Grade Estimation”.

COURSE OUTLINE

• Introduction
• General Principles
• Minimum Cutoff Grades
• Cutoff Grade and Opportunity Cost - Examples
• Cutoff Grade for Polymetallic Deposits
• Cutoff Grade and Optimization of Processing Plant Operating Conditions
• Cutoff Grade and Mine Planning - Open Pit and Underground Selective Mining
• Cutoff Grade and Mine Planning - Block and Panel Caving
• Which Costs Should Be Included in Cutoff Grade Calculations?
• When Marginal Analysis No Longer Applies: A Gold Leaching Operation
• Mining Capacity and Cutoff Grade When Processing Capacity is Fixed
• Processing Capacity and Cutoff Grade When Mining Capacity is Fixed
• Mining and Processing Capacity and Cutoff Grade When Sales Volume is Fixed
• Releasing Capacity Constraints: A Base Metal Example
• Relationship Between Mine Selectivity, Deposit Modeling, Ore Control and Cutoff Grade
• Closing Remarks

WHO SHOULD ATTEND

This course is designed for professionals involved in making decisions regarding mining projects during exploration, evaluation, development, and operations, including managers, financial analysts, mining engineers, metallurgists, geologists, and public policy makers.

It is strongly recommended that participants bring a laptop.

DATE: September 13-17, 2010

TIME: 9:00 AM to 5:00 PM

INSTRUCTORS: Michel Dagbert, SGS Geostat Ltd., Jean-Michel Rendu, Roussos Dimitrakopoulos, McGill University, Canada

FLYER: Click here to download

CONTENT & OBJECTIVES:

This course is designed according to the latest regulations on public reporting of resources/reserves. It aims at showing how state-of-the-art statistical and geostatistical techniques help answering the requirements of those regulations in an objective and reproducible manner. A particular emphasis is put on the derivation of the amplitude of sampling and estimation errors with advanced techniques like conditional simulation.

ATTENDEES WILL LEARN

• Demonstrate how standard statistical techniques help solve problems of sample reliability
• Understand when and how geostatistics can improve resource estimates
• Apply geostatistics to predict dilution and adapt reserve estimates to that predicted dilution
• Learn how geostatistics can help you categorize your resources in an objective manner
• Demystify conditional simulation and show how it addresses all the above problems
• Understand principles of NI43-101, SEC Industry Guide 7, and SME Guide

COURSE OUTLINE

• Steps to be followed to estimate resources and reserves, and where problems may occur (Rendu)
• Review of rules and regulations concerning public reporting of exploration information, mineral resources and reserves (Rendu)
• Statistical analysis of sampling quality control data (Dagbert)
• Geological modeling (“domaining”) (Dagbert)
• Variography (Dagbert)
• Interpolation (Dagbert)
• Resource classification (Dagbert and Dimitrakopoulos)
• From resources to reserves (Dagbert and Dimitrakopoulos)

WHO SHOULD ATTEND

• Exploration and mine geologists
• Resource analysts
• Mining engineers
• Anyone acting in the role of “qualified” or “competent person”

It is strongly recommended that participants bring a laptop and no previous exposure to statistics and geostatistics is required.

DATE: November 8-11, 2010

TIME: 9:00 AM to 5:00 PM

INSTRUCTORS: Michel L. Bilodeau, Department of Mining and Materials Engineering, McGill University, Canada, Sabry Sabour, McGill University, Canada

FLYER: Click here to download

CONTENT & OBJECTIVES:

This four-day course is intended for those who wish to:

• Gain a practical understanding of economic/financial evaluation principles
• Develop the skills necessary to apply these principles to support mineral project decisions
• Learn about the real options approach to valuing mining projects

The course focuses on:

• Economic/financial evaluation techniques
• The application of these techniques to the analysis of issues associated with mineral projects.

WHAT YOU WILL LEARN

Over this four-day course you will learn the basics of economic/financial evaluation techniques, and how to implement these techniques to mineral project assessment.

The course first covers economic/financial evaluation techniques. This includes cash flow and the time value of money, discounted cash flow methods, taxation, inflation, and sensitivity and risk analyses. Next, the information requirements for mining project assessment are described. Topics include mine recovery and dilution, mineral processing recovery, and mine revenue and capital and operating cost estimation.

The following section demonstrates how estimates and evaluation techniques are combined for the purpose of deriving criteria to support mineral project investment decisions. The final day of the program explores the application of the theory of real options to the valuation of mining projects.

While no previous background in economic analysis is required, some practical experience in the mineral industry and familiarity with mining terminology is desirable.

COURSE OUTLINE

• DAY 1 (Bilodeau)
  • Introduction to mineral project evaluation
  • General considerations and cash flow
  • The time value of money and the cost of capital
  • Investment criteria
• DAY 2 (Bilodeau)
  • Tax considerations
  • Inflation considerations
  • Sensitivity and risk analyses
• DAY 3 (Bilodeau)
  • Estimation of mineral reserves, revenue and capital/operating costs
  • Putting it all together: Evaluation of mine development proposals
  • Optimization of mine development and operating specifications
• DAY 4 (Sabour)
  • The shortcomings of conventional cash flow models
  • Financial Options: Definition and valuation methods
  • Real Options: Definition and application to mine valuation
  • Applications to mining project issues

WHO SHOULD ATTEND

• Mining/mineral/geological engineers
• Mineral exploration geologists
• Mining analysts
• Those in government responsible for the formulation of mineral policy.

A laptop computer may be helpful but is not essential.