Commodity prices for metal mining

donovan

June 11, 2013 02:31

I am modeling the impact of a copper mine in the U.S. I am having a hard time figuring out what price IMPLAN is using for the copper. In the IMPLAN users guide it is stated as such: Mining Mining output estimates are derived from the Mineral Commodity Summaries. This USDI Bureau of Mines publication provided output estimates for most of the mining sectors. Using copper as an example, does IMPLAN apply the average price per pound that is given by the USGS (Mineral Commodity Summaries) for the model year data (in this case 2011)? Since commodity prices can vary dramatically year to year, I want to be sure of the commodity price that is being used. A small change in the commodity price per pound can produce a very large change in the output of a large mine. Is there a way to change the commodity price in IMPLAN? Cheers,

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IMPLAN Support
June 11, 2013 05:07

Hello Donovan, It appears that you looking at our old V2 User's Guide. We actually don’t use that methodology any more for copper output. Rather, we use the BEA's annual output series that can be found [url=http://http://www.bea.gov/industry/iedguide.htm#GPO]here[/url]. We use the GDPbyInd_GO_NAICS XLS file - in the first tab of this file there are some notes as to the definitions and methodology, as well as contact information for more specific questions. These data are lagged one year - we project to the current data year using the change in employment from the previous year to the current year. Please let us know if you have any additional questions.

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