kuliah 1 - introductory to mineral economics
TRANSCRIPT
Introductory to
Mineral
EconomicsRini Novrianti Sutardjo Tui
Natural Resources
Agriculture Mining
if it can’t be grown, it has to be mined
Everything we have and everything we use comes from our natural resources
Needs for Mining Materials
1,841 lbs copper
586,218 lbs coal
23,700 lbs phosphate
5,599 lbs aluminum
1,074 lbs lead
81,585 gallons petroleum
45,176 lbs iron ore±57,448 lbs other minerals and metals
±3.7 million pounds of minerals, metals, and fuels in his/her life time
What is Mineral Economics?
Mineral Economics
Application of principles of economics theories to support decision making
of mineral investment
National
Resources
Private
PropertiesNatural
Resources
Scope of Mineral Economics
Mineral Economics
Mineral policySupply – demand (market)
of mineral
Investment, trade, tax,
and government
strategies
Economical linkage
and multiplier effects
Input – output analysis
Government’s economic objectives
Economics
Economics
Resources, limited, efficiently
Individual
Company
Market
Economy
Inflation
International trade
Main Characteristics of Mineral Industry
Non-renewable
material
Dimension and Shape
are irregular
Supply-demand
issues
Availabilityare not spread evenly
Resource and Reserve
Resource
In situ estimation based on
geological evidence with
preliminary technical and
economic assessments sufficient
to show that there are reasonable prospects for
eventual economic extraction.
Reserve
The economically mineable part of a mineral resource.
Mining dilution and recovery factors have been
applied and technical and economic studies carried out of
sufficient detail to demonstrate
at the time of reporting that extraction could reasonably be
justified.
Horizontal Subdivisions
Vertical Subdivisions
The Decision Process