present value

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present value

[′prez·ənt ′val·yü]
(mining engineering)
The sum of money which, if expended on a mine for purchase, development, and equipment, would produce over the life of the mine a return of the original investment plus a commensurate profit.
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.