Finance at Imperial
MSc 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:
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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
• 2nd in Europe
5th in World
6th in World
• 3rd in Europe
• 3rd in Europe
10th in World
17th in World
overall
for engineering /
information technology
for natural sciences
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
Perspective
Mathematics for Developers of
Financial Tools
Perspective
Science and Engineering applied
to Financial Services and
Producers
MSc in Mathematics
and Finance
Faculty of Natural
Sciences
Maths
MSc in Metals and
Energy Finance
Faculty of
Engineering
Quant
Accounts/
Finance
MSc Finance
Business School
Perspective
Creative Users of
Financial Tools
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
ESE Autumn (Language) 130 hrs
30%
25%
20%
15%
10%
5%
0%
Mineral Deposit
Studies
Gold
intergrowth
Petroleum Geology
Petroleum
Engineering
Extractive Metallurgy
Language
Business School Autumn Term 120 hrs
35%
30%
25%
20%
15%
10%
5%
0%
Accounting
(Lecture)
Math Tech in
Math Tech in
Finance (Lecture) Finance (Seminar)
Investment &
Portfoilio
Management
(Lecture)
Investment &
Portfoilio
Management
(Seminar)
Autumn Term: MSc Metals and Energy Finance
ESE Autumn Term (Maths) 105 hrs
30%
25%
20%
15%
10%
5%
0%
Mineral Deposit
Studies
Carlin –
epithermal gold
Petroleum Geology
Petroleum
Engineering
Extractive
Metallurgy
Supplementary
Maths
Business School Autumn Term 120 hrs
35%
30%
25%
20%
15%
10%
5%
0%
Accounting
(Lecture)
Math Tech in
Math Tech in
Finance (Lecture) Finance (Seminar)
Investment &
Portfoilio
Management
(Lecture)
Investment &
Portfoilio
Management
(Seminar)
Spring Term: MSc Metals and Energy Finance
ESE Spring Term 163 hrs
Business School Spring
Term 50 hrs
Asset Pricing and
Derivatives
Language Group 33 hrs
25%
20%
15%
10%
5%
0%
Project
Appraisal &
Finance
Management of
Projects
Minerals
Engineering
Excursion
(wessex Basin)
Reservoir
Rocks
Resource
Evaluation
Strategic
Management
Wesssex Coast Excursion–
Unconventional Petroleum – Oil Shales – Kimmeridge Bay
Course Weighting: MSc Metals and Energy Finance
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)
Examinations (43%)
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
Language Module
Choice of Spanish, French or Italian.
Assessment through a Viva voce,
coursework and test
Language and
Excursions (26%)
Field exposure to petroleum systems
and active energy and metal
operations. Write-up presented in two
extended reports
Asset Pricing and Derivatives paper (3 hours).
Investment and Portfolio Management 2
paper (3 hours)
Mathematical Techniques in Finance paper (3
hours)
Excursion to Wessex and South
Africa Course Work Module
Dissertation Module
(31%)
Independent research undertaken
over 10 weeks during the summer
Strategic Management integrated into Professional
Development Programme
Summer Programme
Summer
Term
Week
Activity
1
Examinations
2
Examinations
and
Dissertation
Preparation
3 &4
Excursion
5 -7
Excursion
report
8&9
Preparation
and
presentation
of
dissertation
topics
10
Board of
Examiners
meeting.
Preliminary
results
Summer – Internships and dissertations.
Anglo Coal, South Africa
Deadline for submission of Dissertations
– mid September
South African Excursion May 2010
Road side stop Abel Erasmas Pass
South African Excursion May 2010
Thabazimbi Open Pit iron Ore Mine
South African Excursion May 2010
• Week 1
• Kumba – Thabazimbi Mine
(Stratabound iron)
• LONMIN – Marikana Mine
(Layered PGE)
• Harmony – Evander (Wits
Gold)
• ARM – Nkomati mine and
plant (Ni)
• Xstrata – Lion FeCr Plant
• Weekend – Kruger Park
• Week 2
• Rio Tinto – Palabora open
pit (carbonatite Cu)
• Nkwe Platinum (Evaluation)
• ANGLOCOAL –Landau
Colliery (Coal)
• Sasol Mining (Engineering,
Procurement &
Construction)
• Eskom and Sasol
Corporate (Johannesburg)
2009 Dissertations in Public Domain
Metals &
Minerals
Valuing the Potential Of Carbon Sequestration in American Coal Gasification Projects.
Energy & Carbon
Capture
X
Financial Evaluation of the Manganese Nodule Resource in the Cook Islands.
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Financial Valuation of a Surface Satellite Deposit in a Copper Underground Mine
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Mining the Albertan tar sands after 2010.
X
Analysis and Optimisation of Fiscal Agreements in the Oil and Gas Industry
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A Strategic Assessment of the Economics of Coal Mine Methane Projects
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Economic Appraisal of Gas to Liquid Projects
X
Recent Developments in the Diamond Industry
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Discounted Cash Flow Valuation and Multi-Factor Real Option Analysis
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Valuation of a tar sands project in Alberta
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What platinum prices are required to allow mechanization
X
Changes to the Risk Profile of the Aluminium Industry
X
Modelling the Effect of Oil Forward Curve Dynamics
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The 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,
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A Real Option Valuation on the Deferment of Canada Montney Tight Gas Project
X
Coal vs .Gas in an Electricity Production Unit of 400MW in European Union
X
Programme Aims
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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.
Placements in January 2011 of MSc M&E Finance Graduates
Employment & Recruitment by Sector
49 Organisations
International Development
Financial Services
Mining, Metals & Quarry
Industry
Petroleum Industry
Energy and Utulities
Consultants & Accountants
University
Graduate Placements – Financial Services (Jan 2011)
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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)
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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)
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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
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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
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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
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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 Buchanan
E-mail: msc.mef@imperial.ac.uk
• Samantha Delamaine - Postgraduate Administrator
Address:
Department of Earth Science & Engineering
South Kensington Campus
Imperial College London
London SW7 2AZ
Tel: 020 7594 7339
E-mail: sam.delamaine@imperial.ac.uk
1011/2012 Fees : £26,950 (overseas) and £16,350 (Home EU)