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Mine and Mineral Economics

For any country's economy, mineral resources form an important part in generating revenue and increasing its GDP. Therefore, learning the economics behind mines and minerals becomes mandatory and logical. This book investigates and promotes understanding of economic and policy issues, programmes and strategies for exploration, mining, beneficiation and marketing activities. Divided into ten chapters, the book puts emphasis on elaborating the principles of mine and mineral economics. The introductory chapter discusses the scope of the subject and the issues addressed by it. Outline of reserve-resource dynamics and the recent approaches towards estimating ore-reserves are then elaborated, followed by a discussion on mineral availability. Focus is then shifted to more technical and quantitative aspects of mineral sampling. Issues relating to mineral property evaluation and project feasibility assessment are then taken up. Both quantitative and logical aspects of mine finance and accounting have been discussed. Nitty-gritties of mine taxation are further outlined and the reader is introduced to aspects relating to marketing and trading of minerals. Distinctive features of the mineral policies of a few countries are highlighted while discussing the characteristic features of a national mineral policy. The last chapter of this book is on mineral industry and the environment. The book is designed for the undergraduate students of mining engineering. The book may be helpful for the postgraduate students of earth science as well.KEY FEATURESBook is supported with numerous illustrations, for better understanding of the text.Numerical and logical-type questions are included in every chapter.
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Table of Contents

Foreword Preface Chapter 1 Minerals and the Economy Chapter 2 Reserve-Resource Dynamics Chapter 3 Minerals Availability-Global View Chapter 4 Mine Sampling Chapter 5 Valuation of Mineral Properties and Project Evaluation Chapter 6 Mine Finance and Accounting Chapter 7 Mine Taxation Chapter 8 Mineral Markets and Trade Chapter 9 National Mineral Policy Chapter 10 Mineral Industry and the Environment Bibliography References Index

About the Author

Subhash C. Ray, is former Professor and Head, Department of Mining Engineering, Indian Institute of Technology Kharagpur, India. He made numerous contributions through his publications in reputed journals which received wide acclaim. He has 40 years of teaching and research experience in mining engineering. Prof. Ray is known to be on the frontiers of knowledge in the sub-disciplines of mine and mineral economics, application of computer and operations research in mining, and metalliferous mining. Indra N. Sinha, is Professor, Department of Mining Engineering, Indian Institute of Engineering Science and Technology, Shibpur, India. Prior to joining IIEST, he was the faculty of ISM Dhanbad. He worked as consultant to CIL on a World Bank assisted project on Environmental Management Capacity Building. His monograph on EIA for Environmental Sustainability has received wide acclaim. Prof. Sinha is the Chairman of Quality Assurance Cell at IIEST. He has 31 years of teaching and research experience in mining engineering. He is known to be on the frontiers of knowledge in the sub-disciplines of environmental management of mines, mine and mineral economics, and surface mining.

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