Finance at ImperialMSc Metals & Energy Finance

Professor Dennis Buchanan, Course Director, Department of Earth Science & Engineering,Engineering Faculty

Imperial at a glance

The University:• world class scholarship, education

and research in science, technology and medicine

• interdisciplinary collaborations• communicate and share knowledge• 13,400 students (30% Postgraduate)

Established in 1907

Academic faculties: • Engineering• Natural Sciences• Medicine • Business School

Imperial College

Imperial College London:

World class research and teaching in science, engineering, medicine and management

“It has been a century of great achievement, and my thanks go to all the people, the staff and the students, whose work over the decades has enabled Prince Albert’s vision to flourish” Her Majesty The Queen, 9 July 2007

Our standing

Times Higher Education Supplement World University Rankings:

• 3rd in Europe 5th in World overall• 2nd in Europe 6th in World for engineering /

information technology• 3rd in Europe 10th in World for natural sciences• 3rd in Europe 17th in World for life sciences/biomedicine

Times Good University Guide 2010• 3rd in UK

Sunday Times Good University Guide 2010• 3rd in UK

The Independent Complete University Guide 2010• 3rd in UK

Our disciplines

• Engineering

• Natural Sciences

• Medicine

• Business

Tomorrow’s breakthrough technologies

Finance teaching at Imperial College

MSc in Mathematics and Finance

Faculty of Natural Sciences

MSc FinanceBusiness School

MSc in Metals and Energy Finance

Faculty of Engineering

Maths Quant

Accounts/Finance

Perspective

Mathematics for Developers of Financial Tools

Perspective Creative Users of

Financial Tools

Perspective

Science and Engineering applied to Financial Services and

Producers

MSc Metals and Energy Finance

• A Joint programme between the Engineering Faculty (Department of Earth Science and Engineering) and the Imperial College Business School.

• In the 2008 research assessment, all the Dept. of ESE’s research was evaluated as excellent and of international significance. The Department also received leading scores in the most recent teaching quality assessment.

• Business School ranked second in UK in the 2008 research assessment (after London Business School with University of Cambridge third).

Athabasca Oil Sands – Convergence between petroleum and mining

Autumn Term: MSc Metals and Energy Finance

Gold intergrowth

Mineral Deposit Studies

Petroleum Geology Petroleum Engin CFM/MEPAF/MPMS

Language0%

5%

10%

15%

20%

25%

30%

35%

ESE Autumn (Language) 130 hrs

Autumn Term: MSc Metals and Energy Finance

Gold intergrowth

Mineral Deposit Studies

Petroleum Geol Petroleum Eng CFM/MEPAF/MPMS

Suppl Maths0%

5%

10%

15%

20%

25%

30%

35%

ESE Autumn Term (Maths) 105 hrs

Autumn Term: MSc Metals and Energy Finance

Carlin –epithermal gold

Business School Autumn Term 120 hrs

0%

5%

10%

15%

20%

25%

30%

35%

Accounting(Lecture)

Math Tech inFinance (Lecture)

Math Tech inFinance (Seminar)

Investment &Portfoilio

Management(Lecture)

Investment &Portfoilio

Management(Seminar)

Spring Term: MSc Metals and Energy Finance

Reservoir RocksProject

Appraisal & Finance

Cash Flow Modelling

Man-agement

of Projects

Mining Eng Extractive Metallurgy

Excursion (wessex Basin)

Resource Evaluation

Strategic Man-

agement

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

Business School Spring Term 50 hrsAsset Pricing and

Derivatives

Language Group 33 hrs

220 hours

Wesssex Coast Excursion– Unconventional Petroleum – Oil Shales – Kimmeridge Bay

Course Weighting: MSc Metals and Energy Finance

Examinations (43%)

Management & Business Examination Module

Accounting paper (2 hours)

Management of Projects, Markets & Supplies, Strategic Management paper (3 hours)

Petroleum & Mineral Geoscience Examination Module

Mineral Deposits (2 hours)

Petroleum Geology and Engineering papers(2 hours)

Project Evaluation Examination Module

Metals & Energy Project Appraisal and Finance, Resource Evaluation paper (2 hours)

Mining Engineering. Extractive Metallurgy paper (2 hours)

Quantitative Finance Examination Module

Asset Pricing and Derivatives paper (3 hours).

Investment and Portfolio Management 2 paper (3 hours)

Mathematical Techniques in Finance paper (3 hours)

Language and Excursions (26%)

Language Module

Choice of Spanish, French or Italian. Assessment through a Viva voce, coursework and test

Excursion to Wessex and South Africa Course Work Module

Field exposure to petroleum systems and active energy and metal operations. Write-up presented in two extended reports

Dissertation Module (31%)

Independent research undertaken over 10 weeks during the summer

Strategic Management integrated into Professional Development Programme

Summer ProgrammeSummer TermWeek

1 2 3 &4 5 -7 8 & 9 10

Activity Examinations Examinations and Dissertation Preparation

Excursion Excursion report

Preparation and presentation of dissertation topics

Board of Examiners meeting. Preliminary results

Summer – Internships and dissertations.

Anglo Coal, South AfricaDeadline for submission of Dissertations

– mid September

South African Excursion May 2012

Limpopo River ValleyNewman Shaft LONMIN Platinum

South African Excursion May 2012

Nkomati blast sequence, Norilsk/ARM

South African Excursion May 2012

Boardroom briefing, De Beers Venetia Diamond Mine

South African Excursion May 2012

Lion Ferrochromium, Xstrata

South African Excursion May 2012

Landau coal, AngloCoal

South African Excursion May 2012

• Week 1• LONMIN – Marikana Mine

(Layered PGE)• Exstrata – Rhovan

(Vanadium)• Kumba – Thabazimbi Mine

(Stratabound iron) • Anglo Plat – Mogalakwena

(Open pit platinum)• De Beers – Venetia (Open

pit diamonds)• Weekend – Kruger Park

• Week 2• Rio Tinto – Palabora open

pit (carbonatite Cu) • Xstrata – Lion FeCr Plant• Nkwe Platinum (Evaluation)• ARM – Nkomati mine and

plant (Ni)• ANGLOCOAL –Landau

Colliery (Coal)

2009 Dissertations in Public Domain Metals & Minerals

Energy & Carbon Capture

Valuing the Potential Of Carbon Sequestration in American Coal Gasification Projects. X

Financial Evaluation of the Manganese Nodule Resource in the Cook Islands. XFinancial Valuation of a Surface Satellite Deposit in a Copper Underground Mine XMining the Albertan tar sands after 2010. XAnalysis and Optimisation of Fiscal Agreements in the Oil and Gas Industry XA Strategic Assessment of the Economics of Coal Mine Methane Projects XEconomic Appraisal of Gas to Liquid Projects XRecent Developments in the Diamond Industry XDiscounted Cash Flow Valuation and Multi-Factor Real Option Analysis XValuation of a tar sands project in Alberta XWhat platinum prices are required to allow mechanization XChanges to the Risk Profile of the Aluminium Industry XModelling the Effect of Oil Forward Curve Dynamics XThe future of Coal Industry of India through the valuation of a Captive Mining Project X

A Financial Assessment of a CO2-EOR project in the North Sea, XA Real Option Valuation on the Deferment of Canada Montney Tight Gas Project XCoal vs .Gas in an Electricity Production Unit of 400MW in European Union X

Programme Aims

• produce graduates equipped to pursue careers in the technical and financial appraisal of natural energy and mineral resource projects and develop an understanding of how this knowledge may be applied in practice;

• offer traditional minerals related training directly applicable to a career in the minerals industry for graduates with geology and minerals engineering undergraduate degrees;

• introduce key technical and geological concepts relevant to petroleum projects;• enhance career opportunities in the financial services and petroleum industries for

graduates of all backgrounds;• provide the basis for an understanding of quantitative finance, accounting and

strategic management within the context of technical principles that apply specifically to mineral and energy projects;

• respond to the importance of the City of London as a global centre for mining and energy finance by providing knowledge of corporate finance (acquisitions and mergers), the equity markets, debt finance, metals markets and associated derivative markets;

• provide training in financial modelling, financial engineering and in the techniques of risk modelling;

• enhance entrepreneurial skills;• provide the skills needed to undertake independent research projects both in industry

and in the university environment.

Employment & Recruitment by Sector49 Organisations

International Development

Financial Services

Mining, Metals & Quarry Indus-try

Petroleum Industry

Energy and Utulities

Consultants & Accountants

University

Placements in January 2011 of MSc M&E Finance Graduates

Graduate Placements – Financial Services (Jan 2011)

• Altus Capital Ltd – Energy Policy Analyst (London)• Barclays Capital – Commodities Trading (London)• BNP Paribas – Business Analyst and Structured Debt (Paris)• Central Bank of Niger - Analyst• CIM Investment – Analyst (London)• Citibank – Management Associate (Algeria)• Commerzbank – Structured Interest Rates (London)• Macquarie Bank - Natural Resources Team (Toronto)• GMP Securities Europe LLP – Analyst (london)• HSBC – Relationships (China)• JP Morgan – Associate (London)• Resource Capital Funds – Analyst (Denver)

Graduate Placements – Financial Services (Jan 2011)

• Rabobank Group – Sales (London)• Societe General – Interest Rates Structurer – London• Sumitomo Mitsui Banking – Manager, Metals & Mining Project

Finance ( London)• UniTrust Finance & Leasing – Credit Analyst (China)• WestLB – Director and Head of Credit (Sydney)• Recruting from the Programme:

• BMO• CIBC• Macquarie• Numis• Renaissance

Graduate Placements – Mining, Metals & Quarry

• Anglo America – Market Analyst, iron ore (Luxembourg)

• De Beers – Corporate Finance and Strategy Analyst (London)

• Lundin Mining - New Business Development• Rio Tinto – New Business Development (London)• Rotherham Sand and Gravel – Manager (UK)• Recruting:

• ArcelorMitall

Graduate Placements – Petroleum Industry and Enery & Utliities (Jan 2011)

• BG Group – Commercial Advisor (Mumbai)• BP – Finance Analyst (Azerbaijan)• Exxon Mobil - Product Master Coordinator (Turkey)• Total – Strategy Engineer (Paris)• Recruitment:

• Statoil• Drax – Quantitative Commodity Analyst (UK)• EDF – Risk Analyst (Paris)• GDF SUEZ Key Account Sales (France)• Moroccan Agency for Solar Energy – Technical and Financial

Advisor (Morocco)

Graduate Placements – Consultants (Jan 2011)

• Booz & Co – Consultant (UAE)• CGGVeritas – Party Manager (France)• CRU – Research Analyst Nickel & Ferrochomium (London)• Equinox Consulting – Consultant (Paris)• Independent Project Analysis – Analyst (UK)• Insight Consulting – Analyst (London)• Mazars – Transaction Support and Corporate Advisory (London)• NAPIMS – Petroleum Economist (Nigeria)• Wood MacKenzie - Energy Markets Analyst (Houston, Texas

Graduate Placements –Other (Jan 2011)

• International Development:• IBRD – Energy Policy Analyst (Washington) –

Consultant (UAE)• Univerities

• Nigeria – Lecturer• Imperial College – Postgraduate MSc student• Imperial College – PhD• Toronto – Postdoctoral Research Fellow

Profile of 2007/2008 Students

• BSc Economics, SOAS• BE Pet, Istanbul Tech Uni• BE Bioengineering, IC• BSc Elec Eng, Univ Lagos• BSc Elec Eng, Ecole Sup

D’Elec (x3)• BSc Econ, Royal Holloway• BE Eng Physics, Queen’s• BSc Comp Sci, Royal

Holloway• BSc Mech Eng, Uni Ado-Ekiti• B.Com Finance, Wits• MSci Phyusics, UCL

• BE Chem Eng, Edinburgh• BSc Fluid Mech, Ecole Poly• BA Economics, Cambridge• MA International Business,

Edinburgh• BSc Man Studies, IC• BA Physical Science,

Cambridge• BSc Geol Eng, Middle East

Tech Uni• BSc Econ, Warwick• BSc Mech Eng, Ecole Nat Sup• BSc Fin & Accounting, Brunel• MSc Chem, Warwick

Profile of 2008/2009 Students

• MSci, Univ. Bristol• DIP Economics, Univ. Bonn• BA Phil, Univ. Leeds• BSc Appl. Chem, Univ.

Newcastle• ME, Univ. Leeds• BE Mining Eng., Univ. Akure• BSc Elec Eng, Ecole Sup

D’Elec (x3)• BA Econ. Univ. Durham• BE Chem. Eng., Univ.

Nottingham• BE Mat. & Metall Eng. FUT• BSc Econ & Geosc., Univ. St

Andrews

• MD Manag. Eng., Univ. Cath. de Louvain

• BSc Eng Geol, Univ. Tehran• BSc Econ. SOA, Azerbaijan• BSc, Mech Eng.,BA, Econ,

Queen’s Univ.• ME Elec. Eng. ENSEEIHT• BE Mech. Eng.,Kings College,

london.• BSc Mining & Ind Eng, Univ.

de Chile• BSc Econ., univ. Warwick• MSc Appl. Maths, Sorbonne• BE Cehm Eng, Univ. Leeds• BSc Maths, Royal Holloway

Contact Details

• Course Director – Professor Dennis BuchananE-mail: msc.mef@imperial.ac.uk• Samantha Delamaine - Postgraduate AdministratorAddress:

Department of Earth Science & EngineeringSouth Kensington CampusImperial College LondonLondon SW7 2AZ

Tel: 020 7594 7339 E-mail: sam.delamaine@imperial.ac.uk

1011/2012 Fees : £29,500 (overseas) and £17,500 (Home EU)