MSc in Extractive Industries Management

This course examines advanced analytical methodologies and evidence-based decision-making frameworks applied to extractive industries, resource economics, and operational management. Mining and resource sector case studies are integrated throughout to illustrate practical application. Students develop the ability to analyze complex datasets, evaluate industry performance indicators, and support evidence-based decisions across the extractive industries value chain.

Complexity is a defining feature of extractive industry systems operations span multiple disciplines, geographies, and stakeholder groups simultaneously. This course develops advanced modeling and optimization competencies to navigate that complexity, covering mathematical modeling, systems analysis, linear and nonlinear optimization, simulation-based decision models, and network and logistics optimization applied to mining operations and resource supply chains. Students develop the ability to analyze, design, and optimize integrated systems under operational, environmental, and economic constraints.

The extractive industries operate under intensifying scrutiny from investors, regulators, communities, and civil society making sustainability, ethics, and governance increasingly central to business strategy. This course examines sustainability principles, ethical frameworks, ESG approaches, and resource governance strategies applied across the extractive industries, from mining and oil and gas to critical mineral extraction. Contemporary ethical cases related to mining, oil and gas, and critical mineral extraction are integrated throughout. Students analyze the interaction between technological development, operational performance, environmental management, social impact, and governance in resource-intensive industries.

Designed to build the research foundation required for the program's applied capstone, this course covers qualitative and quantitative research methods, experimental design, statistical analysis, systematic literature review, and the interpretation of technical and scientific information relevant to extractive industries management and operational strategy. Students develop competencies in research problem formulation, study design, data collection and analysis, and evidence-based evaluation of industry challenges. A central output of this course is a formal Capstone Research Proposal, which constitutes the foundational document for the two-stage applied research project completed in CAP 690 and CAP 695. The proposal must clearly articulate the research problem, research question, theoretical framework, methodology, data sources, and expected contributions. This deliverable is reviewed and approved by the faculty supervisor before the student advances to the design phase.

What determines the price of copper on a given day and what does that mean for Mine production decisions six months later? This course examines the economic principles and market dynamics that govern natural resource extraction, commodity trading, and global supply chains, covering price formation mechanisms, commodity market structures, economic valuation of mineral and energy resources, royalty and fiscal regimes, and macroeconomic influences on commodity cycles. Industry case studies spanning mining, oil and gas, and critical minerals illustrate practical market dynamics. Students develop the ability to analyze commodity market behavior, evaluate resource economic scenarios, and support investment and operational decisions under market uncertainty.

This course examines financial modeling methodologies and economic valuation frameworks applied to mining and extractive industry projects. Professional valuation tools used in the mining and resource industry are incorporated throughout. Students develop the ability to construct and interpret financial models, evaluate project economics under uncertainty, and support capital investment and strategic planning decisions.

Students completing this course will be equipped to navigate the complex policy, governance, and stakeholder environments that define extractive industry operations across diverse jurisdictions. The course covers mining and energy policy, regulatory frameworks, permitting processes, social license to operate, community engagement, indigenous rights, conflict management, multi-stakeholder governance, and transparency initiatives. Contemporary policy cases related to mining regulation, environmental governance, and stakeholder conflicts in extractive projects are integrated throughout. Students develop the ability to analyze policy environments, design stakeholder engagement strategies, and navigate complex governance frameworks.

Integrated operations centers and real-time data systems have transformed how mining organizations monitor and manage their operations compressing decision cycles from hours to minutes. This course develops competencies in real-time operational management, covering data acquisition and analysis, operational dashboards and KPI monitoring, remote sensing and telemetry, fleet management, production control, and the integration of digital technologies into operational workflows. Industry case studies and specialized mining operations management tools are incorporated throughout. Students develop the ability to analyze, design, and optimize real-time operational management systems for surface and underground mining environments.

Few industries face a more complex and dynamic risk environment than the extractive sector where geopolitical shifts, commodity volatility, regulatory changes, and social pressures can alter project economics overnight. This course develops strategic risk management competencies across enterprise risk, geopolitical and country risk, commodity price risk, operational and technical risk, environmental and social risk, and crisis management in extractive contexts. Industry case studies from major mining and resource companies illustrate practical strategic risk challenges and organizational responses. Students develop the ability to identify, evaluate, and manage strategic risks across the extractive industries value chain using quantitative and qualitative risk assessment approaches.

This course examines the full life cycle of mining project development and the strategic decision-making frameworks that govern each phase, from exploration through production and closure. Industry case studies from major mining jurisdictions and diverse project types are incorporated throughout. Students develop the ability to evaluate project development pathways, assess feasibility and investment risk, and support strategic decisions across the mining project life cycle.

Sound resource estimation is the foundation on which every mining project is built, and every investment decision depends on it. This course develops competencies in geological resource modeling, geostatistical methods, mineral resource, and ore reserve classification under international reporting standards (JORC, NI 43-101, SAMREC), economic cut-off grade analysis, and sensitivity analysis for resource disclosure. Professional estimation tools used in the mining industry are incorporated throughout. Students develop the ability to evaluate resource datasets, apply industry-standard classification frameworks, and conduct integrated economic assessments of mineral and energy resource projects.

Lithium, cobalt, rare earth elements, and copper are no longer niche commodities they are the raw material of the global energy transition, and their supply chains have become a matter of national security for many governments. This course examines the strategic importance, supply dynamics, and governance challenges of critical minerals, covering geopolitical risk, ESG considerations, demand projections, and circular economy approach to supply chain resilience. Industry case studies spanning lithium, cobalt, rare earth elements, copper, and other strategic minerals are incorporated throughout. Students develop the ability to analyze critical mineral supply chains, assess strategic supply risks, and evaluate policy and investment strategies for resource security.

Automation is reshaping what it means to operate a mine by changing labor models, safety outcomes, and cost structures simultaneously. Students in this course develop competencies to evaluate automation strategies, assess technology readiness, and design implementation pathways for intelligent mining systems, covering autonomous haulage and drilling, remote operations centers, machine learning in mining, predictive maintenance, and digital mine architectures. Industry case studies from leading automated mining operations and specialized automation technologies are incorporated. Students develop the ability to evaluate automation strategies, assess technology readiness, and design implementation pathways for intelligent mining systems.

This course examines asset management principles, operational reliability frameworks, and maintenance optimization strategies applied to mining and extractive industry assets. Specialized asset management tools used in mining and heavy industrial operations are incorporated throughout. Students develop the ability to evaluate asset performance, design maintenance optimization strategies, and develop asset management plans that maximize operational availability and minimize life cycle costs.

This course constitutes the design and development phase of the applied research capstone project in the MSc in Extractive Industries Management. Building directly on the research proposal approved in ESE 515, students develop a comprehensive Project Design Document that serves as the formal blueprint for the implementation phase conducted in CAP 695. Required deliverables include: (1) a refined problem statement and research question; (2) a complete literature review situating the project within current knowledge; (3) a detailed methodology specifying data collection instruments, analytical techniques, and validation approaches; (4) an industry and stakeholder analysis relevant to the project context; and (5) a project execution plan with milestones, risk assessment, and feasibility evaluation. Each student is assigned a faculty supervisor and, where applicable, an industry co-supervisor. The Project Design Document is formally evaluated by the supervisory committee before the student proceeds to CAP 695.

This course constitutes the implementation, evaluation, and final presentation phase of the applied research capstone project in the MSc in Extractive Industries Management, completing the three-stage research sequence initiated in ESE 515 and designed in CAP 690. Students execute the methodology approved in the Project Design Document, collecting and analyzing data, implementing proposed solutions or frameworks, and evaluating outcomes against the research objectives. Required deliverables include: (1) a Final Applied Research Report structured as a formal academic document containing introduction, theoretical framework, methodology, results, discussion, conclusions, and recommendations; (2) an oral defense presented before a supervisory committee composed of at least two faculty members and, where applicable, one industry representative; and (3) an executive summary suitable for professional dissemination. The oral defense constitutes the formal act of sustentation required for degree completion. The Final Applied Research Report and the record of the oral defense are the primary documents submitted in the event of a degree recognition or validation process.