Following the feasibility study, the life of mine plan/cash flows will be completed, project sensitivities and markets identified, smelter terms and metal pricing defined and risk analysis completed. The subsequent step will be to obtain the environmental permits, secure project financing, and the detailed engineering phase started as part of an Engineering, Procurement, and Construction Management (EPCM) arrangement. Implementation will start with the Construction Phase and subsequent Commissioning Phase with the fine tuning of process systems to achieve optimal operating performance.
With EPCM, the construction methods and project schedule will be integrated with construction which will require significant management effort. For effective project delivery, the management systems of project controls including cost tracking and control, equipment procurement and the project schedule. Throughout the Operation Phase, effective management will include operating procedures which will affect optimal Closure and Post-Closure.
Operational phase management aspects including planning cycles, production management, cost control, budgeting and forecasting, monthly reports, cost reports and benchmarking. In addition management will need to establish the Financial Assurance for the Closure and Post-Closure Phases typically be implemented by the company. Throughout the Closure Phase, the environmental aspects of the mine that were previously established should be evaluated and revised to ensure that they remain appropriate for the changing mine conditions. In addition the anticipated costs of mine closure should be re-evaluated and adjusted regularly throughout the mine life cycle to ensure that adequate funds are available for decommissioning, Closure costs and Post-Closure phases.
The course aims at providing participants with an appreciation of management principles and practices vital to the successful running of a mining business. The participants will be able to recognize and appraise the factors contributing to risk management issues in specific mining life cycle related processes and will be able investigate the causes and consequences of mining related risks and able to develop risk management strategies.
At end of this Programme participants will be able to:-
- Understand management principles and practices vital to the successful running of a mining business
- Appreciate that managing a mining business requires exhaustive internal and competitive analysis
- Recognize and appraise the factors contributing to risk management issues in specific mining life cycle related processes
- Investigate the causes and consequences of mining related risks
- Develop risk management strategies
- Understand what sustainability and sustainable development mean for mineral development and mine management
Mining engineers, project managers, regulators, auditors, consultants, geologists, financial analysts, Consulting firms, investment bankers, institutional investors and government officials.