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FACULTY of ENGINEERING / DEPARTMENT of MINING ENGINEERING

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FACULTY of ENGINEERING / DEPARTMENT of MINING ENGINEERING /
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MDM4015Mineral Economics3+0+0ECTS:4
Year / SemesterFall Semester
Level of CourseFirst Cycle
Status Compulsory
DepartmentDEPARTMENT of MINING ENGINEERING
Prerequisites and co-requisitesNone
Mode of DeliveryFace to face
Contact Hours14 weeks - 3 hours of lectures per week
LecturerProf. Dr. Ali Osman YILMAZ
Co-LecturerNone
Language of instruction
Professional practise ( internship ) None
 
The aim of the course:
The objectives of the lecture are: Explaining of terminology and cash flow diagrams, present value-future value calculations, interest calculations, internal effectively calculations of projects, benefit/gain ration evaluations, capital investment, economical analyses, sensitivity analyses, units and definitions, cut-off grade, project feasibility.
 
Learning OutcomesCTPOTOA
Upon successful completion of the course, the students will be able to :
LO - 1 : formulate and solve time value of money problems1,2
LO - 2 : determine and obtain data to solve mineral economic problems using appropriate techniques1,2
LO - 3 : evaluate multiple alternatives the optimum one1,2
LO - 4 : understand the importance of making appropriate economic decisions1,2
LO - 5 : recognize the importance of mineral economic decisions in a global and societal context1,2
CTPO : Contribution to programme outcomes, TOA :Type of assessment (1: written exam, 2: Oral exam, 3: Homework assignment, 4: Laboratory exercise/exam, 5: Seminar / presentation, 6: Term paper), LO : Learning Outcome

 
Contents of the Course
Principles and procedures in mineral property valuation, geostatistical ore reserve estimation, investment analysis; . Decision making in engineering, Cash flow analysis, sensitivity analysis, pareto analysis, risk analysis in mining, cut-off grade analysis, break even analysis, Capital cost, feasibility study, cost estimation, determination of the production life of mining project.
 
Course Syllabus
 WeekSubjectRelated Notes / Files
 Week 1Cost analysis
 Week 2Cost analysis
 Week 3Break-even anlysis
 Week 4Break-even anlysis
 Week 5Depreciation
 Week 6Offical holiday
 Week 7İnterest and application
 Week 8Mid-term exam
 Week 9Project evaluation techniques
 Week 10Offical holiday
 Week 11Cash flow analysis
 Week 12Risc analysis
 Week 13Marketing of mineral products
 Week 14Midterm 2
 Week 15Pareto anlysis
 Week 16End-of-term exam
 
Textbook / Material
1Köse, H.; Kahraman, B., 1992; Maden İşletme Ekonomisi, Dokuz Eylül Üniversitesi, Mühendislik Fakültesi Yayınları, No 223, İzmir
2Gentry, D. W. and T. J. O'neil, 1984; Mine Investment Analysis, SME Publishing
3Ergin Arıoğlu,Ali Osman Yılmaz,2001; Pratik Madencilik Problemleri, TMMOB Maden Müh. Odası Yayını, Ankara.
4Sarıaslan, H.1994; Yatırım Projelerinin Hazırlanması ve Değerlendirilmesi, Turan Kitabevi, Ankara.
5Tolga, E., Kahraman, C.,1994; Mühendislik Ekonomisi, İ.T.Ü. Yayını, No: 1542.
6Işık, A.1999; Mühendislik Ekonomisi, Kütahya.
 
Recommended Reading
1Vogely, W. A.,1985; Economics of the Mineral Industries, SME Publishing.
2Rudawsky, O.,1986; Mineral Economics, Elsevier publishing.
3Wahl, S.V., 19873;Investment Appraisal and Economic Evaluation of Mining Enterprise, Trans Tech Publications
4Stermole, F. J. and Stermole, J. M.,1987; Economic Evaluation and Investment Decision Methods, Investment Evaluation Corporation.
 
Method of Assessment
Type of assessmentWeek NoDate

Duration (hours)Weight (%)
Mid-term exam 9 19-11-2018 1,25 50
End-of-term exam 17 18-01-2019 1,25 50
 
Student Work Load and its Distribution
Type of workDuration (hours pw)

No of weeks / Number of activity

Hours in total per term
Yüz yüze eğitim 3 14 42
Sınıf dışı çalışma 1 10 10
Laboratuar çalışması 0 0 0
Arasınav için hazırlık 2 10 20
Arasınav 2 6 12
Uygulama 1 5 5
Klinik Uygulama 0 0 0
Ödev 0 0 0
Proje 0 0 0
Kısa sınav 2 7 14
Dönem sonu sınavı için hazırlık 1 20 20
Dönem sonu sınavı 2 6 12
Diğer 1 0 0 0
Diğer 2 0 0 0
Total work load135