A Framework For Decisions

In this age of advancing technology, mining companies are confronted with increasing competitive forces. The depletion of high-grade deposits and the development of substitute materials are intensifying market competition. The accelerating activity of petroleum companies in mineral exploration is increasing competition for deposits. At the same time, the trend in government policy is towards a reduction in traditional mineral-industry incentives. To succeed, the mining company must respond to these changing economic conditions by developing a decision-making framework that can effectively contend with the new opportunities and constraints. What are the elements of such a decision-making framework?