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Eric Lilford and Bryan Maybee

The industrial advancement of mankind is inextricably linked with natural resources. We cannot underestimate our collective reliance on minerals and mineral products, not only for industrial and commercial progress, but also in the health and agriculture industries. Mined ore, as well as the commensurate beneficiation, processing and refining of the product, provides the industrial sector with the required material to further shape and fabricate this material into the end product to be used for the benefit of mankind.

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The industrial advancement of mankind is inextricably linked with natural resources. We cannot underestimate our collective reliance on minerals and mineral products, not only for industrial and commercial progress, but also in the health and agriculture industries. Mined ore, as well as the commensurate beneficiation, processing and refining of the product, provides the industrial sector with the required material to further shape and fabricate this material into the end product to be used for the benefit of mankind.

In this course we will look at how minerals extraction or production only occurs after discovery, exploration, research, analysis and planning have all been completed. Planning requires a firm knowledge of a commodity’s future market in terms of supply and demand, its value or forecast price, the capital outlay (development costs) and the costs to produce it and, critically, how the development of that deposit will be funded. This funding may take the form of equity, debt or potentially derivative or convertible instruments or through other innovative funding mechanisms such as metal streaming, farm-ins and participation funding (joint ventures).

We will also look at the number of people either directly or indirectly linked to the mining business, with the multitude of stakeholders ranging from employees, service providers, financiers and investors through to non-governmental organisations (NGOs) and activists.

Throughout the course we reference the value-chain which represents the stages and processes that a minerals project will go through to produce mineral products. Each stage provides a value-add to the previous stage and there are opportunities to invest at each of the major stages.

This interactive course incorporates videos, expert insights, simulations and discussions to deepen your current understanding of the minerals and mining sector.

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What's inside

Learning objectives

  • Students who complete this course will be able to:
  • Explain how new mineral deposits are found and describe the economic factors that govern their discovery and development
  • Show how a mining plan addresses the complete lifecycle of a mine, from initial infrastructure requirements through to operation, closure and rehabilitation
  • Monitor the ‘living plan’ of a mine and establish how extraction and processing of minerals is constantly adjusted to suit market conditions
  • Explain how economics and market forces influence the decision to close a mine
  • Discuss the concept of a value chain and how value is generated and measured across different mine-life stages for various stakeholders

Syllabus

Getting started
Introduction to the minerals business
Discovery and development of new mineral deposits
Mine plans and the complete lifecycle of a mine
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The ‘living plan’ of a mine
Impact of economics and market forces on mine closure
Value chains and the various stakeholders

Good to know

Know what's good
, what to watch for
, and possible dealbreakers
Provides insight into the mining industry, from discovery to closure
Introduces students to the economic factors that govern mineral discovery and development
Emphasizes the role of market forces in decision-making, such as the closure of a mine
Facilitates understanding of the value chain and how stakeholders contribute at different stages of mine-life

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Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in The Minerals and Mining Business with these activities:
Review basic economic principles
Review basic economic concepts, such as supply and demand, to enhance your comprehension of the course materials.
Browse courses on Economic Theory
Show steps
  • Revisit your notes or textbook from a previous economics course.
  • Search for online resources and videos to refresh your memory on economic fundamentals.
  • Take practice quizzes or solve exercises to test your understanding.
Show all one activities

Career center

Learners who complete The Minerals and Mining Business will develop knowledge and skills that may be useful to these careers:
Exploration Geologist
Exploration Geologists combine knowledge of Earth science with finance and business acumen to locate Earth's hidden resources that can be used to create everything from smartphones to buildings. This course enhances your ability to identify and develop new mineral deposits, giving you a competitive advantage in the field.
Mining Engineer
Mining Engineers get to combine their knowledge of geology and engineering to develop and execute plans that result in profitable mineral extraction. This course covers everything from resource evaluation to the design of optimal and environmentally conscious mining operations.
Mineral Processing Engineer
Mineral Processing Engineers use their knowledge of chemistry and engineering to extract valuable minerals from ores. This course lays the foundation for developing, managing, and optimizing all stages of the mineral extraction and processing.
Geochemist
Geochemists analyze the chemical composition of rocks, minerals, soils, and water to understand geological processes. This course will expand your knowledge of minerals and the processes that form them, aiding you in discovering and quantifying resources.
Mining Project Manager
Mining Project Managers oversee all aspects of mining projects, from planning and development to execution and closure. This course will provide you with a deep understanding of the mining business that will be immensely valuable in managing complex mining projects.
Environmental Scientist
Environmental Scientists are committed to preserving the environment while ensuring responsible development. This course addresses the environmental considerations that go hand in hand with mineral extraction and processing, preparing you to manage environmental risks in mining operations and implement sustainable practices.
Geologist
Geologists study the Earth's physical structure and composition. This course enhances your understanding of minerals and their formation, providing you with a solid foundation for understanding geological processes and phenomena.
Metallurgist
Metallurgists extract and process metals from ores and recycled materials. This course will enhance your knowledge of mineral processing and extraction, as well as the properties and applications of metals.
Mining Analyst
Mining Analysts provide valuable insights and recommendations to investors and companies in the mining sector. This course builds your financial acumen and understanding of the mining industry, enabling you to make informed assessments and guide investment decisions.
Materials Scientist
Materials Scientists develop and improve materials used in various industries. This course provides insights into the properties and applications of minerals, equipping you with the knowledge to design and optimize materials for specific applications.
Geophysicist
Geophysicists use geophysical methods to study the Earth's structure, composition, and dynamics. This course enhances your understanding of geological processes and provides valuable insights for mineral exploration and extraction.
Economic Geologist
Economic Geologists apply geological knowledge to assess the economic viability of mineral deposits. This course strengthens your understanding of mineral exploration and evaluation, equipping you to make informed decisions in the mining industry.
Mining Lawyer
Mining Lawyers specialize in legal matters related to the mining industry. This course provides a solid understanding of the legal and regulatory frameworks governing mineral exploration, extraction, and processing, giving you an advantage in this specialized field.
Investment Banker
Investment Bankers provide financial advice and services to companies in the mining sector. This course builds your financial acumen and knowledge of the mining industry, enabling you to effectively assess investment opportunities and guide clients in making strategic decisions.
Mining Consultant
Mining Consultants provide expert advice and guidance to mining companies on various aspects of their operations. This course enhances your understanding of the mining business and provides you with the tools to develop and implement effective mining strategies.

Reading list

We've selected six books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in The Minerals and Mining Business.
Provides an overview of the geology of ore deposits, including the formation of different types of deposits, the exploration and mining of these deposits, and the environmental impact of mining.
A comprehensive reference book that covers all aspects of mining engineering, from exploration to mine closure.
Provides an overview of the social and economic impacts of mining, including the impact on local communities, the national economy, and the global economy.
Provides an economic analysis of the mineral industry, including the role of minerals in the economy and the impact of mining on the environment.
A comprehensive textbook on mineral processing technology. It covers all aspects of the mineral processing process, from the basics to the advanced.

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