Know how in economics is an complementary partner to know how in technology in every step of mining processes. The economic way of thinking begins before the first hole is even. Mining Economics and Strategy
by Ian Runge will help you efficiently lead mining operations via the use of innovative economic methods and strategies. The books text does cover what is meant by a cost-effective mining scheme, the economics of information, knowledge, and the procedures for the rational evaluation of more or less uncertain projects. It defines mineral from a business perspective and covers the influence of scheduling on once mineral reserves.
Discounted cash flow techniques, which is one the most widely used evaluation techniques for financial decision making, are covered in detail. The assumption of the use of spreadsheets is a unique feature of this book. Mining Economics and Strategy offers solutions to the problem that many mining projects fail to achieve expectations because of their inability to adapt to change. A new method is explained that allows calculation of capital that is "at risk" from capital that is not at risk. This promises significant advancements in the way that investments are made and capital is valued in the industry.
The book concludes with a brief review of the historical setting and knowledge difficulties in any mining-related investment, and how these issues might also influence the success of investments in the future.
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by Larry Thomas.