This is a project of engineering I'm working on.

1. Part 1
Practically, mining is a process that work hand in hand with other bodies for its success.
These bodies are the stakeholders who influence the mining process either positively or
negatively. The influence could be either positive, that is when they cooperate or even negative
when they conflict with the mine owners. There are several stakeholders in the mining process
for instance, the project owner’s team. They are driving force of the project. Cooperation among
the owners for example consultation from all members and maybe visiting the site together has
got more impact on the mining process. When there is understanding among the owners, rather
the managers, the mining process will undoubtedly succeed.
The government is another stakeholder to the mining process. There are set regulations
by the government that are to be met by the mining project. Failure to work by the set rules calls
for enforcement of the law. Therefore, the mining process has to be at per with the prevailing
rules and regulations. Partners have got a great influence on the mining project. This is because
they contribute much to the success of the project and therefore included in all decisions made.
Partners are affected by the project for instance when the project is encountering a loss, they also
feel the loss since their investments are involved.
Communities neighboring the site are stakeholders in that they are affected by the mining
process in one way or the other. The communities look into details whether the site around
them is of benefit rather than a risk to them. Other mining producers are also stakeholders. This
is because they learn from each other and therefore there is sharing of knowledge. The project
has an impact on other mining producers as they take knowledge learnt and go apply in their
mining areas and hence there is efficiency in the course of production.

2. There are streams of benefits and loss in the mining process that ought to be added to the
cost benefit of the analysis of project for instance valuing the environment. Mining should take
place but in the safest way that does not destroy the environment. Treatment of risks is another
stream of benefit and loss in the mining process. Basically, risks should be approached with
caution by checking all the possible outcomes that may result from taking a certain risk, that is if
either loss or profit is made.
Part 2
The coal mining process with time will have a great impact on the markets globally. Both
local and international markets are supplied with coal. Locally, there would be profit made since
there are less costs incurred in suppling coal. The coasts that are not incurred much are the
transportation costs compared to coal being exported into the international markets. Profits
however are made on a daily basis if the production is steady and therefore coal sales are also
steady. If less costs are incurred in the process of productions, there would be more profit gotten
from the sales and therefore stabilizing the project.
Profitability earned from the sales of coal made will depend on the availability of the
market. The market dictates the amount of production and also the supply. If there is a great
demand from the market, this will push the coal owners to produce more so that the market
demand may be reached. On the other hand, surplus means that the more coal will be supplied to
the market. Practically, if demand and supply are exceeded for instance, there is surplus
production than the market can take or there is low demand in the market, this will affect other
factors in production line.

3. The forces of demand and supply associated with the supplies and the market greatly has
influence on the market. Production of coal in this case might not be same at the end of the
stipulated period: sixty years and at the beginning. This is because factors might arise that affect
the demand and supply of coal in the market. If there is a great demand of coal such that the
production might not cater for the markets need, and there is a shortage of production with other
sites having coal this might trigger the rise of price in the market. Low demand on the other hand
tends to decrease the commodity price and therefore reducing the profits rates.
There are factors that might affect the demand and supply of coal in the future and
therefore influencing the commodity price. Competition might be a factor that is, if the other
companies produce coal and therefore competing for the same market. This might lower the
price and therefore means there would be less profit attained. The amount of production of coal
might go down as years pass, this means that low profit would be recorded in future.
Part 3
The main aim of environmental valuation techniques is aiming at monetary values to the
environment. It can be seen that as the utility yields its greatness to an environmental resource,
then the more its value then there is need to protect it.Ecosytem valuation has played an
important role in mining. Ecosystems provide humans with a vast diversity of benefits such
as fiber, food, energy, clean water, healthy soils, pollinators and more. Though our
wellbeing is dependent upon the continued flow of these ecosystem services, many
are public goods without no markets and prices, so are typically not taken into account
in the current economic decision making. As a result, biodiversity is declining, our
ecosystems are being continuously degraded without attached cost and society, in
turn, is suffering the consequences, which are partly irreversible. Ecosystem valuation

4. plays a very important role in revealing the real economic cost of this biodiversity
degradation and aiding effective decision making.
Ecosystem services contribute to economic wellbeing and associated development goals such
as Millennium Development Goals, in two major ways- through contributions to the
generation of income and material goods, for example, provisioning of food and fiber and
through reduction of potential costs of adverse impact of climate change, for example, corals
and mangrove swamps protect coastal infrastructure. Ecosystem valuation will help in
quantifying the economic benefit of this ecosystem service to the neighboring communities to it
.It is important to ensure that the economic (market and non-market) and non-economic values
of biodiversity and ecosystem services are taken into account when planning and
undertaking climate change related activities. This can be best achieved by using
a range of valuation techniques. The valuation of ecosystem services should generally be
placed within an integrated approach to adapting to climate change. Methodologies are
available for analyzing social, cultural and economic value of biodiversity and
ecosystem services in supporting adaptation in communities and sectors vulnerable to
climate change using the conceptual framework.
Some of the non-market valuation methods include the following;
1 Contingent Valuation Method (CVM)
It is an economic, non-market based valuation method especially used to infer
individual’s preferences for public goods, notably environmental quality. CVM is conducted
through survey and the term "contingent" is based on a respondent's willingness to pay
(WTP) or willingness to accept (WTA) for a good or services subject to the posed

5. hypothetical scenario. Willingness to pay is the maximum amount an individual is
willing to pay in order to avoid undesired outcome. Willingness to Accept is the
minimum amount an individual is willing to receive to accept undesirable outcome.
Survey questions in CVM can be either open or close ended. In the open-ended survey, the
respondents are presented with a hypothetical but plausible situation and are asked
the maximum amount of money they would be WTP for amelioration from the status quo
(thing as they are) or the minimum amount of compensation they would be WTA for
deterioration from the status quo. Close-ended method involves asking a respondent
whether they would be WTP a specified amount for a specific good or service
Mining is the direct line to which a majority of the electrical power for the country is provided.
In some way, shape, or form, the minerals that are unearthed drive the supply of the countries
demand for power. Until other methods of power production are made readily available coal will
remain the frontrunner in the reliability race for electricity. A third strength of the United States
mining industry is that the pay scale for miners has always been higher than that of the average
worker. One reason the pay is greater due to the overall hazardous conditions the employees are
constantly required to endure. Every aspect of the process can be hazardous and extra regulations
and safety measures must be followed.
2. Hedonic property values method
One weakness is that there is no price or market for environmental goods The concept of restricted
demand may help solve this issue. Intuitively, measure how demand for a market good changes with
the price and the quantity of other attributes Can we learn anything about the value of pollution by
looking at the price of land/property?•If pollution is bad, polluted land (or a property near a
pollution source) should be cheaper.

6. Hedonic price theory deals with measuring implicit price so differentiated products canbe viewed
as bundles of attributes without explicit price.
3. Site visits method
This is another method which includes visiting the site of the mining. The weakness of this
method is the visibility of the viewer which may hinder the economy. Its strength lies ion how it
can be viewed by the visitor. It is somehow important since it provides first-hand information.
Conclusion
In conclusion, on-market valuation needs to be viewed as a tool that boosts the efficiency of
instruments of the economy. These non-market valuations are therefore important for efficient
operation that improves economy.