Associate Certificate
Cost Estimation for the Resources Industry
Intake commences 17 February 2025
20 PD hours
100% online
AusIMM courses rated 4.9/5 (4.5k+ reviews)
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Course Overview
- Explain the purpose, characteristics and terminology of cost
estimates in expenditure decisions and project studies - Describe methods for estimating capital, operating and business
costs - Define accuracy, contingency, owner’s costs and timing
- Demonstrate general estimation techniques, shortcuts and checks
- Explain the use of benchmarking to validate cost estimates
- Describe estimating costs for emerging technologies
- Discuss cost estimation case studies
Who is this for?
- Project and study managers - Build credible cost estimates for mining projects.
- Financial analysts and decision makers - Understand cost estimation methodology, limitations and risks.
- Operational engineers and technologists - Estimate costs for budgeting, studies and equipment selection.
 Duration |
 Delivery |
 Course Type |
 2025 Intakes |
 PD Hours |
 Language |
20 hours
|
100% online |
Associate Certificate |
17 February
|
Up to 20 |
English |
Course Modules
Module 1
Overview of Cost Estimation
- Describe the contexts in which cost estimation is undertaken and why it may be different in the minerals industry
- Describe estimation techniques and how to deal with uncertainty
- Explain the terminology used in estimation and progress of studies in relation to reliability of estimates
- Explain some causes of errors and the relationship between estimators and other stakeholders
Module 2
Capital Cost Estimation
- Describe the process of estimating capital costs
- Outline the objectives of different types of capital cost estimates
- Explain the structures of capital cost estimates – WBS, codes and cost types
- Discuss accuracy and contingency
Module 3
Operating Cost Estimation
- Outline the purpose and use of operational cost estimates
- Describe the different drivers of operational cost estimates
- Describe the methods used to determine operating costs
- Explain estimation skills and peer review
Module 4
Estimation Techniques, Challenges and Case Studies
- Describe one or more worked examples which illustrate the key concepts of cost estimation in the context of a 'real life' project
- Discuss the lessons learnt in one or more case studies that illustrate the context for cost estimation
Course Pricing
Member Price
A$1,491
Price is inclusive of 10% GST
- Exclusive discounts
- Access to digital library
- Networking opportunities
- Professional development
- Industry insights
Associate membership and enrolment bundle
A$1,747
Price is inclusive of 10% GST
- Exclusive discounts
- Access to digital library
- Networking opportunities
- Professional development
- Industry insights
Non-member
A$1,940
Price is inclusive of 10% GST
- Exclusive discounts
- Access to digital library
- Networking opportunities
- Professional development
- Industry insights
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Download the course brochure
Cost Estimation for the Resources Industry
Learning Objectives
- Explain the purpose, characteristics and terminology of cost estimates in expenditure decisions and project studies
- Describe methods for estimating capital, operating and business costs
- Define accuracy, contingency, owner’s costs and timing
- Demonstrate general estimation techniques, shortcuts and checks
- Explain the use of benchmarking to validate cost estimates
- Describe estimating costs for emerging technologies
- Discuss cost estimation case studies
Course Structure
The five-week course is a collaborative, hands-on online learning experience, taking learners approximately 20 hours to complete. Course content includes:
- Weekly live virtual classrooms
- Additional resources and readings (case studies, videos, articles)
- Selective examples of tools used
- Group discussion forums
- Learning activities in the form of short test questions
Course Schedule
| Course dates |
Virtual classrooms |
|
Course commences: 17 February 2025 Course closes: 23 March 2025 |
Module 1: Thursday 20 February, 11.30–13.00 AEDT Module 2: Thursday 27 February, 11.30–13.00 AEDT Module 3: Thursday 6 March, 11.30–13.00 AEDT Module 4: Tuesday 11 March, 11.30–13.00 AEDT |
|
Note: The virtual classrooms listed above are the only scheduled activities for this course but they are not the only activities. All other course work (eg videos, readings, knowledge checks, etc) can be completed at your own pace on the learning platform within the course duration. All activities must be completed before the course close date. The virtual classrooms will be recorded and made available within 24 hours for those participants unable to attend the scheduled sessions. |
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Course Facilitators
Laura Daly
MAusIMM
Principal Mining Consultant, AMC Consultants
Laura has a strong foundation in all areas of business analysis, from strategy through to measuring organisational performance. With demonstrated strengths in financial analysis and benchmarking, she has a comprehensive understanding of the cost drivers of a mining operation. Since joining AMC’s business improvement group in August 2002, Laura has provided the mining cost modelling and revenue components of various Australian and international conceptual, pre-feasibility, and feasibility studies across a range of commodities and mining methods.
Laura has also conducted numerous benchmarking and operational improvement studies which included detailed analysis of productivity and costs of operating underground and open-pit mines. She has also developed value driver trees to model mine to market costs, productivities and value. Prior to joining AMC, Laura gained hands-on experience as a mine geologist in data analysis, problem solving, quality assurance management systems, and managing drilling programs in underground and open pit operations.
Laura has also conducted numerous benchmarking and operational improvement studies which included detailed analysis of productivity and costs of operating underground and open-pit mines. She has also developed value driver trees to model mine to market costs, productivities and value. Prior to joining AMC, Laura gained hands-on experience as a mine geologist in data analysis, problem solving, quality assurance management systems, and managing drilling programs in underground and open pit operations.
Michelle Lawson
FAusIMM
Michelle Lawson Management & Consulting Services Pty Ltd
Michelle has over 30 years of experience in Resources, Infrastructure, and Finance with leading global organisations. Her expertise spans high-level financial advisory, ESG, risk management, and board-level strategy planning. As a Fellow Chartered Accountant, she provides sharp financial insights into vast operations, enhancing business performance. Michelle brings a strong operational lens and commercial acumen, covering entire project life cycle from concept to operations and rehabilitation, together with over a decade of experience as an Executive Director and Joint Venture Committee Chair. She is currently a Non-Executive Director for the AusIMM and the Mark Hughes Foundation, as well as operating her own consultancy business.
Michelle has chaired several AusIMM committees, and has a special interest in diversity and inclusion, having won several awards at state, national and international levels. She holds a Bachelor of Commerce, is a Fellow of Chartered Accountants Australia & New Zealand, Governance Institute of Australia and Australasian Institute of Mining and Metallurgy, Member of the Australian Institute of Company Directors, and a Justice of the Peace in NSW.
Michelle has chaired several AusIMM committees, and has a special interest in diversity and inclusion, having won several awards at state, national and international levels. She holds a Bachelor of Commerce, is a Fellow of Chartered Accountants Australia & New Zealand, Governance Institute of Australia and Australasian Institute of Mining and Metallurgy, Member of the Australian Institute of Company Directors, and a Justice of the Peace in NSW.
Christian McMahon
MAusIMM(CP)
Advisory Lead-Operational Excellence, Principal Mining Consultant, AMC Consultants
Christian has more than 25 years of experience in the mining and extractive industries. Christian’s operational experience includes multi-site mine management, management of technical services and production departments, asset management of fixed and mobile plant and mine rehabilitation. His primary expertise is in management of low-cost, low-margin mining operations and operational improvement in mining. He is an accomplished mine operational management and development specialist who has been responsible for businesses with very large OPEX and CAPEX budgets and large workforces.
Adrian Pratt
FAusIMM(CP)
Principal, Adrian Pratt Mining Consultants
Adrian Pratt has a diverse background in mining projects that spans their evaluation, design, implementation, and operation. In 2014 he established own consultancy, which focuses on mineral project development in Australia and internationally. Prior to this he held senior technical support and operational roles with Ivanhoe Australia, Newcrest, BHP and Normandy Mining associated new projects.
Adrian holds a Bachelor of Engineering (Mining) from the University of NSW and a Masters of Minerals & Energy Economics from Macquarie University, and Certificates of Competency as a Mine Manager. He is a Fellow of the Australasian Institute for Mining and Metallurgy with Certified Professional (CP) accreditation, Member of the Institute of Engineers Australia with registration as a Certified Practicing Engineer and is a Registered Professional Engineer of Queensland (RPEQ).
Adrian holds a Bachelor of Engineering (Mining) from the University of NSW and a Masters of Minerals & Energy Economics from Macquarie University, and Certificates of Competency as a Mine Manager. He is a Fellow of the Australasian Institute for Mining and Metallurgy with Certified Professional (CP) accreditation, Member of the Institute of Engineers Australia with registration as a Certified Practicing Engineer and is a Registered Professional Engineer of Queensland (RPEQ).
Course Advisors
Peter McCarthy
HonFAusIMM(CP)
Peter is a co-founder of AMC Consultants, an international mining consultancy established in 1985. With more than 50 years of experience in the mining industry, Peter has been responsible for underground and open pit mine feasibility studies, mine valuations and technical studies for projects in Australasia, Asia, Europe and Africa. He has published more than 60 technical papers and articles in his areas of interest and has served as a non-executive director of five public companies. He is a past President of the Australasian Institute of Mining and Metallurgy and received the Beryl Jacka award in 2009.
Peter has held Mine Manager’s Certificates in Victoria and New South Wales and has degrees in Mining Engineering and Mineral Economics. He is a Life Member of the Sovereign Hill Museums Association, an Honorary Fellow of The Australasian Institute of Mining and Metallurgy and a Chartered Professional Engineer.
Peter has chaired several AusIMM committees and working groups, and has a special interest in mining heritage.
Peter has held Mine Manager’s Certificates in Victoria and New South Wales and has degrees in Mining Engineering and Mineral Economics. He is a Life Member of the Sovereign Hill Museums Association, an Honorary Fellow of The Australasian Institute of Mining and Metallurgy and a Chartered Professional Engineer.
Peter has chaired several AusIMM committees and working groups, and has a special interest in mining heritage.
Neil Cusworth
FAusIMM
Chairman and Founding Director, Enthalpy
Neil is the Chairman and Founding Director of Enthalpy’s Australian, European and North & South American operations, as an independent Project Management services provider, since 1988.
Neil’s Project Management career has spanned almost four decades working as a Project Manager – Director on resource projects in most continents. Major projects have included Gordonstone Coal, Minera Alumbrera, Queensland Magnesium, Mt Isa Copper Smelter, sale of the Gladstone Power Station, Emu Downs Wind Farm, Anaconda Murrin- Murrin and the OPR – Crosslands Iron Ore project.
He has undertaken a variety of specialist advisory and Independent Peer Review assignments since 1988. These have included a wide range of Independent Peer Reviews and Expert Witness assignment for Reko Diq and Pascal Lama projects.
Neil’s speciality has including development and providing ‘best practice’ systems, procedures and reviews for multinational corporations including BHP Billiton, Barrick Gold, Antofagasta Minerals, Stanwell Energy, Cliff’s, MIM and Codelco. His focus since 1982 has been on defining the capital cost estimating standards in the mining sector.
Neil’s Project Management career has spanned almost four decades working as a Project Manager – Director on resource projects in most continents. Major projects have included Gordonstone Coal, Minera Alumbrera, Queensland Magnesium, Mt Isa Copper Smelter, sale of the Gladstone Power Station, Emu Downs Wind Farm, Anaconda Murrin- Murrin and the OPR – Crosslands Iron Ore project.
He has undertaken a variety of specialist advisory and Independent Peer Review assignments since 1988. These have included a wide range of Independent Peer Reviews and Expert Witness assignment for Reko Diq and Pascal Lama projects.
Neil’s speciality has including development and providing ‘best practice’ systems, procedures and reviews for multinational corporations including BHP Billiton, Barrick Gold, Antofagasta Minerals, Stanwell Energy, Cliff’s, MIM and Codelco. His focus since 1982 has been on defining the capital cost estimating standards in the mining sector.
Damian Peachey
Principal Consultant, AMC Consultants
Damian has more than 40 years of experience in the mining industry that includes broad operational and technical roles in management, maintenance, engineering, procurement and logistics. He has held a range of senior management roles in iron ore operations in Australia.
His focus in recent years with AMC has been on performance diagnostic studies, mining equipment asset management, selection and procurement, and cost estimations for global open-pit mining operations.
His focus in recent years with AMC has been on performance diagnostic studies, mining equipment asset management, selection and procurement, and cost estimations for global open-pit mining operations.
Enrolments now open
Intake commences 17 February 2025
AusIMM courses rated 4.9/5 (4.5k+ reviews) by past participants
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Frequently asked questions
What are the technical requirements to participate in the course? i.e. do I need a webcam, microphone, etc?
The course will be run entirely online via a cloud-based Learning Management System (LMS) which can be accessed via computer, tablet or phone. Participants will simply need to have a working Internet connection and a computer, tablet or phone with sound to access the course. Please note that some course videos are hosted on Vimeo. Participants in regions where Vimeo is blocked may need to use a VPN to access these materials.
How long will the course take?
The course consists of four modules run over four weeks and an extra week to complete all course components. It is expected that participants will take about 20 hours to complete the course. This includes attendance at live virtual classrooms and completion of all learning activities.
Must a participant complete and pass all modules in order to finish the course?
Yes, it is a requirement for participants to complete all modules and pass all learning activities to receive their digital credential.
How often will the courses be run?
We aim to run two intakes each year.
Can a participant sign up for only one or two modules?
Unfortunately no, the course must be completed in its entirety.
Will the course be delivered in other languages?
At the moment, no, but we will be looking at delivering the course in other languages in the near future.
How many PD hours do I receive for undertaking the course?
Participants can earn professional development (PD) hours for undertaking the course. One contact hour of technical content is equivalent to one PD hour.
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