British Columbia Institute of


MINE 1014 - Mineral Economics

Mining Part-time Studies Course

School of Construction and the Environment

Course Details

Economic modelling and valuation are at the core of mining investment decisions. This course introduces concepts and methods that will allow participants to understand mine economic valuation techniques and conduct basic project evaluations. Topics covered include: time cost of money, discount rates, cash flow statements/diagrams, valuation metrics (NPV, IRR, payback), mine value drivers, capital and operating cost estimation, sensitivity analysis, simulation techniques, and evaluation related risk analysis. Participants will learn how to use and interpret an economic model in MS Excel.





Spring/Summer 2019

Below is one offering of this course for the Spring/Summer 2019 term.

CRN 66060

Thu Jun 06 - Fri Jun 14 2 Weeks

Class Meeting Times

Dates Days Times Locations
Jun 06 - Jun 14 Thu/Fri 13:00 - 17:00 DTC Rm. 420


Pierre Bredell

Course Outline

TBD – see Learning Outcomes in the interim



Learning Outcomes

Upon successful completion of this course, the student will be able to:

  • Explain the objectives of economic modelling for mining projects.
  • Differentiate economic concepts and terms such as time-value-of-money, real/nominal dollars, discount rates, discounted cash-flow analysis, etc.
  • Evaluate mining investments using valuation metrics such as Net Present Value (NPV), Internal Rate of Return (IRR), Free Cash Flow (FCF) and Payback period.
  • Prepare estimates of capital (construction), operating costs, and revenue for use in an economic model.
  • Develop simple and flexible economic models in MS Excel using standard valuation metrics.
  • Perform sensitivity analyses on economic input variables such as capital/operating costs, life-of-mine, metal prices, discount rates, etc.
  • Select appropriate modelling tools, metrics, and input parameters for mining investments at various stages of development (exploration, project development, operating).
  • Outline the relationship between project value drivers such as capital cost, operating costs, revenues, and construction/operating schedule.
  • Assess and analyze key areas of risk for mining investments and perform risk-based scenario analysis on economic valuations.

Effective as of Fall 2014


Interested in being notified about future offerings of MINE 1014 - Mineral Economics? If so, fill out the information below and we'll notify you by email when courses for each new term are displayed here.

Contact Information

Suggest course days and times

If you are interested in taking this course on-campus (classroom delivery only) and would like to see it offered on specific days and/or at specific times, please indicate your preferences below. Day and time suggestions are not applicable to online courses.

The personal information on this form is collected under the authority of the College and Institute Act (RSBC 1996, Ch.52). BCIT will use this information to communicate with you regarding relevant BCIT programs, courses and services. This information is only used by authorized BCIT staff. Email communication sent to and from BCIT is routed through the United States of America. If you have any questions about BCIT's collection and use of this information, please contact BCIT’s manager of Information Access and Privacy.

Programs and courses are subject to change without notice.

Find Courses

Payment Changes At BCIT

We've changed the way we accept payments.

Find out more

Course Navigation, Related Links & Tools

Registration News

Registration is currently open for the Spring/Summer 2019 term.

The sneak preview for the Fall 2019 term starts Fri, May 24 at 8:30 am (PDT).

Students may register for Fall 2019 term courses online, by phone, mail or in-person starting Wed, May 29 at 9:00 am (PDT).

Classroom Locations

Classroom locations are subject to last minute changes. Please check the Part-time Studies Classroom Locations listing at on the first day of any course you are registered for.

Part-time Studies Financial Aid

Will you be studying at BCIT part-time? Do you need assistance funding your studies? Find out if you qualify for Part-time Studies financial aid ›