Council Of Economics - Mineral Economics And The Mining Engineer

Since mineral economics is often coupled with mining engineering in the solution of mineral industry problems, it is important that the principles of this science be a part of the mining engineer's education. Essentially, mineral economics is the application of economic principles to analysis of the multistage process by which minerals are converted from geologic resources to marketable products. In some instances, it may require only the analysis of case studies from a well- developed economics core. In others, however, it requires special skills, because some aspects of the mineral conversion process--such as mineral occurrence, exploration investment and depletion-have no complete parallel in general economics. The mining engineer has been an important contributor to the analysis of mineral economics problems because of his special knowledge of the mineral industry.