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A Cost model of deep ocean mining and associated regulatory issues
  • Published Date:
    1978
Filetype[PDF - 10.91 MB]


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A  Cost model of deep ocean mining and associated regulatory issues
Details:
  • Corporate Authors:
    Massachusetts Institute of Technology, Sea Grant Program, ; United States, National Oceanic and Atmospheric Administration, ;
  • Funding:
    Funding: NOAA Office of Sea Grant; grant number: 04-7-158-44079;
  • Series:
    Report (Massachusetts Institute of Technology. Sea Grant Program) ; no. MITSG 78-4
  • Document Type:
  • Description:
    Introduction to the study -- Long and short term policy interests of the United States in deep ocean mining -- Use of the study model in analyzing domestic and international policy issues bearing on the profitability of ocean mining -- Technological prospects for exploitation -- Informing policy makers on the economic and financial aspects of the institutional decisions -- The model -- Analysis based on the model -- Overview of the technology of deep ocean mining -- Preparation for the mining operation -- Commercial mining -- Processing -- The deep ocean minion model -- Prospecting and exploration -- Mining -- Mining sector capital costs -- The mining platform -- Power plant -- Pipe handling system -- Lift system -- Navigation and control -- Mining sector operating costs -- Multiple mineship mining systems -- Transport -- Transport sector capital costs -- Transport vessels -- Slurry system -- Transport sector operating costs -- Processing -- Capital cost estimation -- Operating cost estimation -- Financial analysis -- Project scheduling -- Escalation -- Annual net cash flow estimation -- Gross revenues -- Annual capital investment -- Debt financing -- Restrictive covenants -- Repayment -- Total costs -- Annual federal income tax payments -- Depreciation -- Interest -- Depletion -- Tax loss credit -- Other tax credits -- Investment credit -- Net income -- Economic return estimation -- Net present valuation -- Internal rate of return method -- Payback period -- Delays -- The initial value of the model's main parameters -- Initial values of input variables in the prospecting and exploration section -- Initial values of input variables int he mining sector -- Initial values of input variables in the transportation section -- Initial values of input variables in the processing sector -- Initial values of input variables in the financial analysis section -- Cost estimation results -- Introduction -- Baseline cost results -- Summary of estimated capital and operating expenses prior to commencing commercial operation and annual operating expenses -- Prospecting and exploration costs -- Capital expenses -- Operating expenses -- Changes in costs due to variation of parameters -- Variations of assumptions of the model -- Multiple mineship system -- Increased transportation distances -- U.S. Construction and crew costs for the transportation sector -- Results of economic return analysis -- Introduction -- Summary of baseline operational results and economic return analysis -- Display of economic return measures -- Changes in economic return due to variation of parameters -- Gross annual revenue and determinants -- Revenue -- Mineral prices -- Production rate -- Ore grade -- Annual operating costs and components -- Total capital costs and components -- Summary -- Variations in assumptions of the model -- Delays -- Skewed capital investment -- Escalation -- Exploration program -- U.S. construction and crews -- Debt structure -- Capitalization of R & D and exploration expenditures -- Depreciation -- Depletion -- Analyzing U.S. legislative proposals -- Desirability of legislation -- Contributions to national income -- Facilitation of debt financing -- Impact of delays -- Policy options -- U.S. bottoms and U.S. crew -- Absence of restriction or incentive -- U.S. construction and crew in the domestic trade -- foreign trade characterization -- Depletion allowance -- Computation of the values of the guaranty -- Effect of guaranty provisions on project net present value -- Effect of political risk on project profitability and cost to the government -- Effect of resale value on project profitability in the event of termination due to political action -- Political risk coverage -- Prospecting and exploration -- Cost estimation of the mining sector -- Transport sector -- Cost estimation of the processing sector -- Financial analysis -- Note on percentage depletion -- Documentation.

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