Spotlight on ASA’s Advanced Mining Class

Editor’s Note: The American Society of Appraisers is hosting Advanced Mining on September 23-25, 2016 in Las Vegas, NV.

This is a three-day class with an option to attend the 2016 Mining Expo for two days following the course. Students who attend the 2016 Mining Expo will receive an additional 18 hours of continuing education credit, for a total of 48 (class + Expo).

ASA is holding a block of rooms at the Embassy Suites Las Vegas at a special rate. Rooms will fill fast so register early to ensure you receive ASA’s special rate.

ASA sat down with instructor Charles W. “Bill” Ruth, ASA for a Q&A to discuss this unique class.

Attendees of this class have the option to attend the 2016 Mining Expo.

Q: Can you tell us how this class was formed?
A: I was asked by Rick Berkemeier, ASA, to put together an advanced mining class back in 2010, and finished this course in 2011 and first taught it in Australia that year. The idea of this course is to play on the Mining class that Alan Iannacito, FASA, and Allan Bowles put together in 2010 and add an additional level for the students to gain additional information on the mining complex as a whole.

Q: What makes the mining industry so important to MTS appraisers?
A: The search for metals has been international since antiquity. Mining turned truly global before most other branches of industry. Tracing the centre of gravity of global mining over the past two centuries demonstrates its role as a foundation of society throughout history. Since this industry is in constant movement the demand for new equipment and buying and selling of mine sites themselves requires that the appraiser has a well-rounded knowledge base to appraise the equipment. 2012 total revenue of top three mining companies 453bn, Total assets of the same companies 1,231bn.

Q: What can students gain from taking this course?
A: In the Advanced Mining Topics course I have listed several current equipment costs and the recourses that I have used over several years of experience in the mining industry. The students will gain information in Mine Safety, dewatering, slop development, and monitoring. In addition we will discuss a mines general ledger entries, the pros and cons of their use. Then go through the mine based on the production and operations of blasting, loading, hauling, crushing, milling, concentrating, and Smelting. The class will be given information on Life Cycle Costing of large capital equipment, to use in addition to the general Cost Approach for equipment. We will also discuss Solvent Extraction Electro Wining for cathode copper. The mine infrastructure will also be discussed from interceptor wells, industrial wells, to rail road spurs. Electrical requirements for the mine as well as the general “footprint” of the mine for future growth. We will discuss how new construction environmental and technology may impact mining going forward.

The class time will be three days, then we will visit (for 2 days) the Mine Expo. This Expo only comes every 4 years and is the largest mining show in the world. Here the students will be able to crawl over and around extremely large equipment, talk directly to the major manufactures of mining equipment.

Q: Can you give us some background information on yourself?

Bill Ruth, ASA, instructor of this class.

A: I have worked inside the mining world since 1971. I have been appraising mining equipment since 1988 retired in 2009, called back to work as a construction manager for a mine expansion of 2 billion dollars for 3 ½ years. I have had a contract with the same company ever since I retired in 2009. I have traveled overseas and completed appraisals in Mexico, South America, Indonesia, Africa, and Canada. I have been an ASA since 1992 and am a senior instructor for ME201, 202, I’m currently on the MTS committee.

Editor’s Note: Thank you Bill for sitting down with us and explaining the importance and relevance of this unique class. Seats are sure to fill fast so register today!

For more information or to register visit ASA Online.