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Subject | Engineering
Advanced Mineral Finance
- CAPM
- NPV
- OLS
- Mine Planning
1) Toward a Sustainable Supply of Mineral Resources
2) What are Stocks?
3) Stocks and its Technical analysis
4) Derivatives (Futures, Short Selling and Options)
5) Academical Table and Graph Creation and its Exercise (GDP, Population and Resource Consumption)
6) Theory of Ordinary Least Square(OLS)(Liner Regression) and its Exercise
7) Theory of Multiple OLS and its Exercise
8) Economic Valuation of Resource Project: Theory of DCF and NPV
9) Exercise: Calculation of NPV and its Sensivity Analysis in a Virtual Mine Case
10) Basic Theory of Finance: Portfolio and CAPM
11) Exercise: Calculation of β by Excel
12) Theory of Mine Planning (Optimal Final Pit Shape)
13) Mine planning: Exercise of Scheduling
14) Numerical Modeling in Geomechanics
15) Underground Mining Mehods
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©Akita University. Last Update 2026-01-30
Content／学習内容
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Toward a Sustainable Supply of Mineral Resources
The sustainable supply of mineral resources is essential for achieving a sustainable society. In this lecture, we will discuss sustainable resource supply by taking copper as an example and unraveling the relationship between price, consumption, and economic growth, including recycling. This lecture was given at the Bandung Institute of Technology (ITB) in Indonesia.
Videos
／学習動画
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Sustainable Resource Supply and Resource Prices
Overview of sustainable resource supply and recent trends in resource prices will be presented.
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Relationship between resource consumption and economic growth and recycling
This lecture explains a linkage between resource consumption and economic growth, and further explain recent situation in critical metals and recycling.
Lecturers
／講師
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Adachi Tsuyoshi
Professor, Graduate School of International Resource Sciences, Akita University
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What are Stocks?
- Stock prices
- Stock price indicators
This course explains the basic concepts and knowledge of stocks and the stock market, and covers the indicators used to evaluate stock prices.
Videos
／学習動画
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What are stocks?
After explaining the basics of what stocks are and showing how they differ from other securities. Then, we will look at actual stock price data on the web site.
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Stock market and the Efficient Market Hypothesis
Explain the three positions that can or cannot predict stock prices. This will be followed by an explanation of the Efficient Market Hypothesis, which is an important part of the theory of finance.
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Stock Price Indicators to evaluate a company’s investment profitability and efficiency, and exercise of stock price data acquisition
Four major stock price indices for evaluating corporate investment profitability and efficiency will be introduced, and representative stock market indices for Japan and the U.S. will be described. Finally, as an exercise, students will obtain stock price data of six companies from websites and plot them on graphs.
Lecturers
／講師
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Adachi Tsuyoshi
Professor, Graduate School of International Resource Sciences, Akita University
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Stocks and its Technical analysis
- Trend system indicators
- Oscillator system indicators
Learn about technical analysis of stock prices, including the basic calculation methods and usage of trend system and oscillator system indicators.
Videos
／学習動画
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Moving average of stock prices, and Golden cross and Dead cross
Learn how to calculate moving averages of stock prices and show how moving averages can be used for timing the buying and selling of stocks. After that, we will show how Golden and Dead Crosses which can be used to signals when to buy or sell a stock.
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Exercise to find Golden and Dead crosses using actual stock prices
Exercise to retrieve actual stock price data from a website and find Golden and Dead crosses.
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Oscillator system indicators
First, Granville’s Law will be explained as a real-world method for measuring stock trading timing, followed by an explanation of MACD as a representative oscillator system indicator.
Lecturers
／講師
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Adachi Tsuyoshi
Professor, Graduate School of International Resource Sciences, Akita University
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Derivatives (Futures, Short selling and Options)
- Short selling
- Futures
- Options
- Geometric brownian motion
Learn about basic concepts and knowledge of financial derivatives trading. Students will also learn about basic derivatives such as futures, short selling, and options and geometric brownian motion.
Videos
／学習動画
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What are derivatives? (Futures trading, short selling)
After an overview of derivatives trading, students will learn about futures trading and short selling.
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Options trading, and Volatility and geometric Brownian motion
This lecture begins with an overview of options trading, followed by an explanation of how volatility is measured and the Geometric Brownian motion that applies it to stock price fluctuations, with exercises.
Lecturers
／講師
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Adachi Tsuyoshi
Professor, Graduate School of International Resource Sciences, Akita University
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Academical Table and Graph Creation and its Exercise (GDP, Population and Resource Consumption)
- Data acquisition
- Graph and table creation
Learn how to obtain statistical data such as GDP, population and resource consumption by country from the web, and create clean tables and graphs that meet academic standards using that data.
Videos
／学習動画
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How to create charts and graphs for academic papers and its exercise
How to create tables and graphs that will be accepted in academic papers. Students will obtain data on GDP, population and resource consumption from websites and actually create tables and graphs in the exercises.
Lecturers
／講師
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Adachi Tsuyoshi
Professor, Graduate School of International Resource Sciences, Akita University
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Theory of Ordinary Least Square(OLS)(Liner Regression) and its Exercise
- Regression Analysis
Study the theory of Ordinary Least Squares (OLS) and perform liner regression analysis on given data using Excel.
Videos
／学習動画
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Theory of Ordinary Least Squares (OLS) – Fundamental Theory
Beginning with the definition of basic statistics, theory of estimating parameters by the least squares method, and the assumptions under the method will be explained.
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Statistics of Least Squares Method and its Exercise
Learn about least squares statistics such as R2 and t-value, check the validity of the estimated parameters, and use this knowledge to solve exercises.
Lecturers
／講師
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Adachi Tsuyoshi
Professor, Graduate School of International Resource Sciences, Akita University
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Theory of Multiple OLS and its Exercise
- Trends
- Data interpretation
- Estimation
As an application of simple regression, learn about multiple regression analysis and exercise actual multiple regression analysis using Excel.
Videos
／学習動画
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Multiple regression analysis methods and exercise using Excel
Exercises using Excel functions with the data to be assigned. Learn how to check the parameters estimated based on the analysis results.
Lecturers
／講師
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Adachi Tsuyoshi
Professor, Graduate School of International Resource Sciences, Akita University
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Economic Valuation of Resource Project: Theory of DCF and NPV
- DCF method
- NPV
- IRR
As a fundamental concept of economic evaluation for projects, learn about the Discounted Cash Flow (DCF) method and calculate Net Present Value (NPV) to acquire basic knowledge of economic evaluation.
Videos
／学習動画
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Project Cash Flow
Explain how to read cash flow from a company’s financial data and its depreciation.
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NPV (Net Present Value) and Exercises
Explain the Discounted Cash Flow (DCF) method. Students are able to calculate the NPV of a project. A simple exercise on NPV will also be conducted.
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WACC (Weighted Average Cost of Capital) and IRR (Internal Rate of Return)
This sectino introduces WACC (Weighted Average Cost of Capital), which is the minimum rate of return a firm has to ensure, and how to calculate IRR (Internal Rate of Return), which is an important indicator along with NPV in the DCF method.
Lecturers
／講師
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Adachi Tsuyoshi
Professor, Graduate School of International Resource Sciences, Akita University
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Exercise: Calculation of NPV and its Sensitivity Analysis in a Virtual Mine Case
- IRR
- Sensitivity analysis
As the final stage of the DCF method exercise, use the cash flow table of a virtual copper mine to calculate NPV and IRR, and conduct sensitivity analysis on prices to gain comprehensive knowledge of economic evaluation methods.
Videos
／学習動画
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Uncertainty in Eeconomic Evaluation
First, the NPV method will be extended to incorporate future uncertainties into the economic evaluation of the project.
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Cash Flow Table for Virtual Copper Mine Project
A cash flow table for a virtual copper mining project will also be used to illustrate the relationship between terms and items used in mining.
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Exercise of NPV, IRR, and Sensitivity Analysis to Price
As an exercise, calculate NPV and IRR using the cash flow table for the virtual copper mining project. In addition, a sensitivity analysis to price will be performed.
Lecturers
／講師
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Adachi Tsuyoshi
Professor, Graduate School of International Resource Sciences, Akita University
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Basic Theory of Finance (Portfolio and CAPM)
- Certainty equivalent
- Portfolio
- CAPM
As a basic theory of finance, lecture start with the relationship between risk and return, and go through the theory of certainty equivalence, and explain the CAPM (Capital Asset Pricing Model) from portfolio theory.
Videos
／学習動画
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Risk and Return, Portfolio Theory
As a basic theory of finance, lecture start relationship between risk and return, through the theory of certainty equivalence, and end with the portfolio theory.
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Explanation of CAPM (Capital Asset Pricing Model)
To explain the CAPM, we will first introduce the Capital Market Line (CML) and then the Securities Market Line (SML) for individual securities. Finally, the meaning of β and how to obtain it will be explained.
Lecturers
／講師
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Adachi Tsuyoshi
Professor, Graduate School of International Resource Sciences, Akita University
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Exercise: Calculation of β by Excel
- β
- Beta
- SML
As a derivative of CAPM theory, use Excel to calculate the β of a company’s stock and find the β for several stocks, along with the relationship between β and the security market line (SML).
Videos
／学習動画
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Review of β and its Exercise
Review β and calculate the actual β of a company’s stock price using Excel. Students will obtain β for several stock prices and conduct an exercise to determine the relationship between β and SML.
Lecturers
／講師
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Adachi Tsuyoshi
Professor, Graduate School of International Resource Sciences, Akita University
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Theory of Mine Planning (Optimal Final Pit Shape)
- Optimization
- Final optimal pit shape
As part of mine planning and design in open pit mine development, explain the optimization problem of the final pit shape. This optimization problem is one of the methods in the field of operations research (OR).
Videos
／学習動画
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What is Mine Planning? Determining Eeconomic Block Model
Lecture begins with an explanation of what mine planning is for the design of open pit mine development and how to obtain the economic block model that prepares for pit shape optimization.
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Optimal Final Pit Shape
The meaning of optimizing mine planning will be explained and the constraints of optimizing mine planning and some optimization algorithms will be introduced.
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Exercise: Determining the Optimal Final Pit Shape
Exercise to find the optimal final pit shape from a two-dimensional economic block model.
Lecturers
／講師
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Adachi Tsuyoshi
Professor, Graduate School of International Resource Sciences, Akita University
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Mine planning: Exercise of Scheduling
- Optimization
The next task in mine planning is the optimization of the mining sequence (scheduling). Explain the scheduling optimization algorithm and find the optimal solution through relatively simple examples.
Videos
／学習動画
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What is Scheduling in Mining?
After the optimal final pit shape is determined, optimization of the mining sequence of the blocks is required. To begin, we explain what scheduling in mining is.
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Mine Scheduling Exercises
Exercise to find the mine scheduling using the example of the optimal final pit shape obtained in the previous exercise.
Lecturers
／講師
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Adachi Tsuyoshi
Professor, Graduate School of International Resource Sciences, Akita University
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Numerical Modeling in Geomechanics
- Numerical Modeling
Design of mine slopes and tunnels requires slope stability, so the mechanical stability after excavation must be analyzed in advance. This course teaches slope stability in mines through explanations of numerical models that are often used as analytical methods. This lecture was given at the Bandung Institute of Technology (ITB) in Indonesia.
Videos
／学習動画
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Dynamic stability of mine slops using Newmark’s sliding block method
The slip block method by Newmark is explained along with its theory, and each parameter required for the numerical model is introduced and modeled.
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Newmark’s Sliding Block Analysis
Specific analytical methods of the Newmark’s method of sliding block analysis will be implemented by reading data from graphs and tables.
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Interpreting the results of the dynamic stability analysis of slope using the Newmark’s method
Interpret and understand the results of dynamic stability analysis of slopes using the Newmark’s method.
Lecturers
／講師
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Dr. Simon Heru Prassetyo
Faculty of Mining and Petroleum Enginnering, Bandung Institute of Technology (ITB), Indonesia
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Underground Mining Mehods and Environmental Problems in Mineral Development
- Mining Mehods
- Environmental Problems
- CO2 Emission
There are two main types of metal mining methods.One is open-pit mining and the other is underground mining.In this section, we will provide an overview of the underground mining method, which is more versatile, and which mining method is selected according to the geological conditions. This lecture was given at the Bandung Isramic University (Unisba) in Indonesia. Also, learn how the mining industry is addressing environmental issues and reducing CO2 emissions through resource development.
Videos
／学習動画
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Underground Mining Mehods
Learn about the various underground mining methods and which method is selected to suit the geological conditions.
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Environmental Problems in Mineral Development
The course will provide an overview of types of environmental problems in resource development with actual examples, and learn how the mining industry is addressing these problems.
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CO2 Eemissions in Mineral Development
Learn about CO2 emissions during mineral development, compare to other industries, and how to reduce CO2 emissions in mining.
Lecturers
／講師
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Dr. Mohammad Rahman Ardiansyah
Faculty of Engineering, Bandung Islamic University
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Adachi Tsuyoshi
Professor, Graduate School of International Resource Sciences, Akita University
Staff／スタッフ
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Adachi TsuyoshiAkita University Graduate School of International Resource SciencesProfessor -
Dr. Simon Heru PrassetyoBandung Institute of Technology (ITB), Indonesia Faculty of Mining and Petroleum Enginnering
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Dr. Mohammad Rahman ArdiansyahBandung Islamic University Faculty of Engineering
Competency／コンピテンシー
Course Objectives
To manage resource projects, economic valuation and related finance theory will be essential knowledge. The purpose of this course is to learn important theory and methods about economic evaluation, finance and financial engineering. It will also cover resource projects and mineral and energy commodities as case studies. Through learning statistical data, Ordinal Least Square (OLS) method is also taught. For total understanding of mining project, basic mine planning will be explained as well. This course consists of combination of lecture and exercises and mainly use Microsoft Excel to analysis these topics. Students can learn how to use Excel for their research work. The beginning and end of the lecture will also include trends in mineral resources and mining technologies conducted in Indonesia, actually.
Learning Outcomes
1) To undestand the relationship between mineral consumption and economic growth
2) To understand stock, securities and commodity market
3) To learn how to obtain statistical data and to make graphs.
4) To learn Ordinal Least Square (OLS) method and to estimate optimal lines.
5) To learn basic theory of economic valuation for projects and calculate an actual mine NPV and IRR.
6) To learn basic theory of finance
7) To learn theory of mine planning and exercise a example
Contact／お問合せ先
Akita University, Graduate School of International Resource Sciences, International Strategy Division
kokusaisenryaku@jimu.akita-u.ac.jp
