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Mining Project Development: From Feasibility to Investment Decision Training Course

Follows a mining project through each development stage and financing decision, from scoping and feasibility studies to the final investment decision.

MFC · Mining Finance, Commercial & Value ChainAll Levels#3080ClassroomEnglish , Arabic
Duration
5 Days
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Free substitution at any time · 30+ days' notice: full refund minus 10%. Cancellation policy

Course Overview

The Mining Project Development: From Feasibility to Investment Decision Training Course equips mining executives, project sponsors, investment managers, and government officials with the management knowledge needed to steer a mineral project from an early discovery to a final investment decision. Mining projects commit large sums long before the first production, on incomplete information about the orebody, the market, and the operating environment. Across the Gulf and Africa, ministries, national mining companies, sovereign investors, and private developers increasingly have to judge such projects, and the quality of their stage decisions shapes whether a deposit becomes a viable mine or a stranded asset. Weak early decisions are expensive to reverse, because each stage raises the money at stake and narrows the options that remain, so sponsors and reviewers need a shared view of what must be proven, by whom, and at what point. The course focuses on project stages and financing decisions in mining, rather than on general techniques for feasibility studies and cost-benefit analysis. Participants follow the stage-gate sequence of scoping study, prefeasibility study, definitive feasibility study, and final investment decision, and they learn what each stage should deliver, how much confidence it can support, and when a project should be stopped, recycled, or advanced. They read mineral resource and ore reserve statements with an informed eye, with reference to the CRIRSCO family of reporting standards such as the JORC Code and Canada's CIM Definition Standards, which NI 43-101 incorporates, and they question the assumptions behind grade, recovery, mine plan, capital estimates, and operating costs. The financing side receives equal weight. Participants compare equity, strategic partners, streaming and royalty finance, project finance, offtake-linked funding, and development finance, and they examine what lenders expect from a bankable study, including independent engineer reviews and the IFC Performance Standards and Equator Principles. Valuation by net present value and internal rate of return, sensitivity and scenario testing, fiscal terms, infrastructure and power solutions, environmental and social impact assessment, community engagement, and permitting as a governance workstream complete the scope, so that participants can see how technical, commercial, and social questions come together in one decision. The course is delivered through project case studies, study review exercises, financing structure comparisons, a stage-gate simulation, and a final investment committee workshop. Participants leave with a stage-gate checklist, a feasibility study review template, a project risk register, a financing options comparison, and an investment decision paper outline they can adapt to their own projects and portfolios.

Learning Objectives

  • Describe the stages of mining project development from discovery to final investment decision and explain what each stage must prove.
  • Define what scoping, prefeasibility, and definitive feasibility studies should each deliver and how much confidence each can support.
  • Apply stage-gate governance to decide whether to stop, recycle, or advance a project at each decision point.
  • Interpret mineral resource and ore reserve statements under CRIRSCO family reporting standards such as JORC and the CIM standards used in NI 43-101.
  • Challenge the main assumptions on grade, recovery, mine plan, capital cost, and operating cost in any study.
  • Evaluate project value using net present value, internal rate of return, and payback measures, and recognize their limits.
  • Test project robustness through sensitivity, scenario, and downside case analysis and identify the case at which the project fails.
  • Compare equity, strategic partners, streaming, royalty, project finance, and development finance.
  • Explain what lenders and investors require from a bankable feasibility study, including independent reviews.
  • Assess how fiscal terms, infrastructure, and power solutions shape a project's economics and timing.
  • Integrate environmental, social, community, and closure considerations into stage decisions from the earliest studies.
  • Build a project risk register that links technical, market, and financing uncertainty.
  • Prepare an investment decision paper that supports a clear recommendation to a board or investment committee.

Who Should Attend

This course is designed for mining executives, project sponsors, project directors, study managers, business development leaders, and investment and corporate finance managers responsible for advancing mineral projects or judging proposals put before them. It is equally relevant for officials in ministries of mining, energy, and investment, mining authorities, sovereign wealth funds, and national mining companies who review project proposals, negotiate with developers, or represent the state's interest in a mining venture. Professionals in development finance institutions, commercial banks, and investment funds with mining exposure, as well as advisers, lawyers, consultants, and owner's team members working on feasibility studies and transaction support, will find the course directly applicable. It is particularly valuable for engineers and geologists moving into project leadership, for finance professionals entering the mining sector, and for organizations in the Gulf and Africa building their first mining portfolio. No hands-on technical mining role is covered; the emphasis is on management, governance, and investment judgment.

Learning Outcomes

  • By the end of this course, participants will be able to:
  • Explain the stages of mining project development and what each must prove before money is committed.
  • Set gate criteria and decision rights for a project under development and record gate decisions.
  • Read a resource and reserve statement and identify its main limitations for decision makers.
  • Review a feasibility study and raise informed challenge questions on its key assumptions.
  • Assess the realism of grade, recovery, cost, and schedule assumptions.
  • Interpret net present value, internal rate of return, and payback results without over-relying on any one.
  • Run sensitivity and downside cases and explain what they mean for a decision.
  • Compare financing options and their effect on control, risk, and return.
  • Identify what lenders need before committing to a mining project and prepare the evidence they expect.
  • Build environmental, social, and closure issues into the investment case.
  • Write an investment decision paper with a clear recommendation.
  • Explain to a board why a project should be stopped, recycled, or advanced.

Course Outline

Course Outline:

Day 1

The Mining Project Life Cycle and Stage-Gate Governance

  • Stages from discovery and exploration through studies, construction, operation, and closure
  • How value and risk change at each stage of development
  • Stage-gate governance: decision rights, gate criteria, and investment committees
  • Stop, recycle, or advance: making and recording gate decisions
  • Owner's team structure, study managers, and the use of external consultants
  • The roles of governments, regulators, and communities in the development sequence
  • Typical reasons mining projects stall between discovery and construction
  • Practical application: participants set gate criteria and decision rights for a project
Day 2

Reading the Orebody and the Studies

  • Mineral resources and ore reserves explained for managers
  • CRIRSCO family reporting standards including JORC and CIM with NI 43-101, and the Competent or Qualified Person role
  • Scoping, prefeasibility, and definitive feasibility studies: scope and confidence
  • Grade, cut-off, recovery, and mine plan assumptions a decision maker should question
  • Capital and operating cost estimates, contingency, and accuracy ranges
  • Common causes of study optimizm and how independent reviews expose them
  • Metallurgical test work and why it matters to the investment case
  • Practical application: participants review a study summary and list their challenge questions
Day 3

Project Economics and Value

  • Building the project case: price decks, production profile, costs, and working capital
  • Net present value, internal rate of return, payback, and how each can mislead
  • Choosing a discount rate and reflecting country and project risk
  • Sensitivity, scenario, and downside analysis
  • Fiscal terms, royalties, and state participation in the economics
  • Infrastructure, power, water, and logistics as value drivers
  • Comparing a project against other options in a portfolio
  • Practical application: participants test a simplified project model under price and cost scenarios
Day 4

Financing Decisions

  • Financing needs across exploration, studies, construction, and ramp-up
  • Equity, strategic partners, and joint venture structures
  • Streaming, royalty finance, and offtake-linked funding
  • Project finance: bankability, security, covenants, and completion tests
  • Development finance institutions, export credit agencies, and sovereign investors
  • Lender expectations: independent engineer review, IFC Performance Standards, and Equator Principles
  • Matching the financing mix to stage, risk, and the sponsor's appetite for dilution
  • Practical application: participants compare financing structures for a mid-sized project
Day 5

Risk, Social Performance, and the Investment Decision

  • Integrated project risk register: technical, market, financing, and country risk
  • Environmental and social impact assessment and community engagement as decision inputs
  • Permitting workstreams and government agreements as governance matters
  • Closure planning and long-term liabilities in the investment case
  • Execution readiness: schedule, contracting strategy, and team
  • Writing the investment decision paper and presenting it to a board or committee
  • Final workshop: participants present a go or no-go recommendation to a simulated investment committee

Upcoming Dates

Selected date

Dubai · 25 – 29 Jul 2027 · Classroom

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CityDatesPrice per ParticipantEarly Bird
LisbonScheduled
2 – 6 Nov 2026€6,000—
LondonScheduled
9 – 13 Nov 2026€5,800—
MadinahScheduled
16 – 20 Nov 2026€4,800—
MadridScheduled
23 – 27 Nov 2026€6,000€5,400until 2 Nov
MakkahScheduled
23 – 27 Nov 2026€4,800€4,320until 2 Nov
ManamaScheduled
30 Nov – 4 Dec 2026€5,300€4,770until 9 Nov
OnlineScheduled
6 – 10 Dec 2026€2,700€2,430until 16 Nov
MuscatScheduled
7 – 11 Dec 2026€6,300€5,670until 16 Nov
RiyadhScheduled
14 – 18 Dec 2026€4,800€4,320until 23 Nov
AbujaScheduled
21 – 25 Dec 2026€7,700€6,930until 30 Nov
SingaporeScheduled
21 – 25 Dec 2026€9,100€8,190until 30 Nov
AccraScheduled
28 Dec 2026 – 1 Jan 2027€7,700€6,930until 7 Dec
AmmanScheduled
3 – 7 Jan 2027€4,000€3,600until 14 Dec
AmsterdamScheduled
4 – 8 Jan 2027€6,000€5,400until 14 Dec
BakuScheduled
11 – 15 Jan 2027€5,300€4,770until 21 Dec
BangkokScheduled
18 – 22 Jan 2027€6,700€6,030until 28 Dec
BeirutScheduled
24 – 28 Jan 2027€4,500€4,050until 4 Jan
BarcelonaScheduled
25 – 29 Jan 2027€6,000€5,400until 4 Jan
BerlinScheduled
1 – 5 Feb 2027€6,300€5,670until 11 Jan
CairoScheduled
7 – 11 Feb 2027€3,800€3,420until 18 Jan
Cape TownScheduled
8 – 12 Feb 2027€7,700€6,930until 18 Jan
CasablancaScheduled
15 – 19 Feb 2027€4,700€4,230until 25 Jan
DammamScheduled
21 – 25 Feb 2027€4,800€4,320until 1 Feb
DohaScheduled
28 Feb – 4 Mar 2027€4,700€4,230until 8 Feb
DubaiScheduled
28 Feb – 4 Mar 2027€4,700€4,230until 8 Feb
ErbilScheduled
7 – 11 Mar 2027€4,000€3,600until 15 Feb
GenevaScheduled
15 – 19 Mar 2027€7,300€6,570until 22 Feb
IstanbulScheduled
15 – 19 Mar 2027€5,300€4,770until 22 Feb
JeddahScheduled
21 – 25 Mar 2027€4,800€4,320until 1 Mar
Kuala LumpurScheduled
29 Mar – 2 Apr 2027€4,700€4,230until 8 Mar
DubaiScheduled
25 – 29 Jul 2027€4,700€4,230until 5 Jul

Available in: Istanbul · Dubai · London · Riyadh · Doha · Amsterdam

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