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Mining and Mineral Economics Training Workshop


This five-day Course examines the nature of Mineral Economics, its emergence as a Distinct Discipline following World War II, and its more Recent Evolution. The course is intended to give participants a sound understanding of the basics of Economic and Financial Evaluation Techniques, as well as the Practical Implementation of these Techniques to Mineral and Mining Project Assessments with the aim to:


  • Understanding the important concepts and methods of mining and Mineral Economics
  • Gaining some practical understanding of Economic and Financial Evaluation Principles
  • Developing the skills necessary to support mineral project valuation
  • Learning about the real options approach to valuing mining projects
  • Appreciating the Potential Risks inherent in Mineral Projects
  • Learning the basics of Mining and Mineral Economics
  • Understanding Economic and Financial Evaluation Techniques
  • Implementing practical techniques to Mineral project assessment


Mining, Mineral and Geological Engineers, Mineral Exploration Geologists, Mining Analysts, Managers involved in ore Reserves Estimation, Economic Studies or Medium to Long Term Planning, as well as those in Government responsible for the Formulation of Mineral Policies.


Over this five-day course, you will learn the basics of Mining and Mineral Economics, Economic and Financial Evaluation Techniques, and how to implement these Techniques to Mineral Project Assessment.

The course first covers Economic and 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.


A. Introduction to Mineral Economics

  • Definitions and Terminology
  • Overview of the Discipline
  • Important Factors in the Economic Recovery of Minerals

B. Understanding Economic Evaluation of Mineral Deposits

  • Economic Evaluation Techniques and Processes
  • Mineral Project Valuation and Selection Criteria
  • Concept of Cash Flow; Discount Factors
  • Estimation of Cash Flow for Mineral Deposit Evaluation
  • Cash Flow Criteria
  • Time Value of Money
  • The Value Factors
  • Discounted Cash Flow Methods
  • Mining tax Considerations
  • The Effect of Inflation

C. Understanding Evaluation of Mining Projects

  • Exploration and Development of Smaller Mineral Deposits
  • Evaluation of Exploration and Mine Development Projects
  • Exploration and Mine planning Applications
  • Scoping Study; Preliminary Economic Assessment
  • Pre-feasibility Study
  • Feasibility Study

D. Understanding Mineral Project Finance

  • Investment Decision Process
  • Stages of Investment
  • Investment Analysis
  • Investment Risk and Sensitivity Analysis
  • Risk Analysis Techniques
  • Sensitivity Analysis

Date:             17 – 21 October, 2022


  • Regular $3,000 (for regular registration)
    • Early Bird and WAIMM members $2,800 (Before October 1st, 2022)
    • Multi-person (≥2) $2,800 (Before October 1st, 2022)

Course fee includes hotel accommodation and all meals.

Limit: 15 seats

Deadline for registration: 10th October 2022

Venue:          Busua Beach Resort, Ghana


Lawrence Omari-Mensah Executive Secretary, WAIMM


Phone: +233 50 724 2841


Dan Bansah is the Chairman and Managing Director of Minecon Resources and Services Limited (MINECON). Prior to joining MINECON in July 2018, Dan was Banro Corporation’s Head of Projects and Operations for 5 years from 2013 with responsibility for the management of two mining operations and two advance exploration projects. Dan was Banro’s Vice President of Exploration from 2007 to 2013 and led a team of geologists in the discovery of over 17 million ounces of gold on Banro’s Twangiza – Namoya Gold Belt in the Democratic Republic of the Congo. Before joining Banro in 2004, Dan was the Group Mineral Resource Manager with Ashanti Goldfields, with responsibilities for the coordination, training, auditing and compilation of Ashanti’s Mineral Resources and Ore Reserves in Africa. Whiles in Ashanti, Dan headed the modelling and evaluation team to appraise several projects and operations in Africa, leading to their acquisition by the erstwhile Ashanti Goldfields. Dan has over 30 years-experience in the gold mining industry in Africa. He has a MSc in Mineral Exploration with Distinction from Leicester University, UK. Dan is a Member and a Chartered Professional of AusIMM, a Fellow and Member of the Governing Council of the West African Institute of Mining, Metallurgy and Petroleum (WAIMM) and a Member of the Ghana Institute of Geoscientists. Dan is credited with numerous technical papers; both published and unpublished.

Event Details

Venue: Busua Beach Resort, Ghana
Starting Date: April 26, 2024
Time: May 23, 2024
Ending Date: July 13, 2024
Fee: $50