Development and analysis of DCF computer models for EEZ marine mining

With the 1983 presidential proclamation establishing the US Exclusive Economic Zone (EEZ), the US Department of the Interior's Minerals Management Service (MMS) was given the task of promulgating development of nonenergy solid minerals offshore (for example, cobalt-rich manganese, titanium, phosphorites, placers). The author focuses on initial formulation and analysis of computer models that incorporate discount cash flow (DCF) methodology, to be used by MMS as a tool to assist in determination of estimated fair market value for a variety of nonenergy marine minerals in the federal EEZ. Review, examination, and several man-month periods of testing the computer models described have been conducted. Several models appear promising.<>