MT20 : MINERAL & MINE ECONOMICS

Mineral & Mine Economics
Unit - 1	Indian mineral industries scenario 1.1  Indian mineral industries at a glance- Mineral Production, Production of Metals & Alloys ,Foreign Trade, Average Daily Employment in Mines, Consumption of Minerals, Productions of Mineral-based Products 1.2 Mineral laws and legislation in India 1.2.1 Mines & Minerals (Development & Regulation) Act, 1957with all amendments 1.2.2 Mineral Concession Rules, 1960 with all amendments 1.2.3 Mineral Conservation & Development Rules,1988 with all amendments 1.2.4 National Mineral Exploration Trust Rules, 2015 Mines & Minerals (Contribution to District Mineral Foundation) Rules, 2015 1.2.5 Minerals (Evidence of Mineral Contents) Rules, 2015 1.2.6 Mineral (Auction) Rules, 2015 1.2.7 Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules, 2016 with all amendments 1.2.8 Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules, 2016 1.2.9 Mineral Conservation and Development Rules, 2017 1.3 National Mineral Policy Ø NMP 1993 Ø Huda committee 2005 Ø NMP 2008 1.4 Mineral resource and reserve-National and International classification system 1.4.1 JORC Code 1.4.2 UNFC code 1.5 Outlines of National Mineral Inventory Location, geology , exploration , physicochemical analysis, reserve/resource estimates, parameters of estimation, end-use grade, etc. classification adopted and categorization of reserves/resources along with terminologies and codes assigned to as per UNFC .of minerals in inventory 1.6 Mineral conservation and substitution
Unit - 2	Sampling Ø Principal Ø Estimation of sample size Ø Equipment for sampling Ø Types of sampling Ø Processing of sampling Ø Error and precaution Salting of sample Ø Method of salting Ø  Precaution against salting
Unit - 3	Reserve and Grade Ø Method for computation of reserve- Geometric and Graphic Method Ø Averaging assays-erratic high assay Ø  Method of calculation of Average grade
Unit - 4	Valuing mining properties 4.1 Valuation of operating mines 4.1.1 Purpose of valuation 4.1.2 Basis of valuation 4.1.3 Factor determining value 4.1.3.1 Annual profit 4.1.3.2 Grade of ore 4.1.3.3 Price of product 4.1.3.4 Cost of production 4.1.3.4.1 Direct and indirect costs 4.1.3.4.2 Accounting General expenses Depreciation Depletion Developing cost 4.1.3.4.3 Rate of production 4.1.4 life 4.1.4.1 ore reserve 4.1.5 present value of future earning 4.1.5.1 Compound interest method 4.1.5.2 Hoskold method 4.1.5.3 Comparison of method 4.1.5.4 Discount for hazard 4.1.5.5 deferment
Unit - 5	Mine Taxation Ø Principles of mine taxation Ø The Four R Ø Basic principles Ø Mining Taxation structure Ø  Mineral sector taxation method
Unit - 6	Royalty Ø Concept of Royalty and its Definition Ø Royalty Regime in India Ø Royalty on Coal Ø Royalty for Minor Minerals Ø Administration of Royalty Ø  Dead Rent
Unit - 7	Mine leasing procedure Final mine closure plan
Unit - 8	Inventory Control Ø Category of stores Ø Duties of storekeeper Ø Control of store Ø Store record Ø ABC analysis
Unit - 9	Environment aspect of mining ü Environment and sustainable development ü Air pollution ü Noise pollution ü Water pollution ü Environment Impact Assessment(EIA) Ø Component of EIA Ø Process Of EIA Ø Methodology of EIA
Unit - 10	Ore dressing or beneficiation ü Definition ü Method of ore dressing ü Preparation of ore for ore dressing