How to Develop a Project

The most critical step in the development of any mining project is the completion of a feasibility study. The feasibility study has one primary goal; to demonstrate that the project is economically viable if it is designed, constructed and operated in accordance with the concepts set forth in the study. Starting from a mineral resource data base, the feasibility study will define the ore reserves, the mining methods, the mineral processing concepts and the scale of the project. The disciplined activity of developing a feasibility study leads the proponent to examine every aspect of the project, many of which might otherwise be ignored. All technical concepts will be established and the corporate philosophy with respect to organisational structure, social and environmental responsibility, infrastructure contributions and financing will be determined. All the major decisions about how the project will be developed are made during the feasibility study. The success of the project will then depend upon the assumptions and decisions in the feasibility study and the ability and empowerment of the development team.