"I want a single, easy-to-use mine project modelling tool that incorporates both financial and technical variables. I want to customise the model so it's specific to my project and use it to identify risks and evaluate commercial potential. And I want it to be affordable."

This was the challenge laid down by many of the mining industry professionals who attend the financial training programmes at the Royal School of Mines, Imperial College , London , England .

IC-CoalEval is a software system provided by IC-FinEval Ltd (www.ic-fineval.com), which is an Excel™-based spreadsheet programme automating all stages required to produce models of coal projects. IC-CoalEval was derived from the coal capability of IC-MinEval, but customised to generate models that are close to those designed for specific projects.  The fully linked financial models generated by IC-CoalEval can be used to determine the weighted average cost of capital and the optimum level of gearing for both open pit and underground mine scenarios. The models also include debt performance indicators and ratios.  A dedicated multipartner capability determines the return on equity based on NPV and IRR for multipartner scenarios.