Accuracy of Feasibility Study Evaluations Would: Improve Accountability

Author

Richard Lee Bullock, Missouri University of Science and TechnologyFollow

Abstract

We can improve the mining industry feasibility studies. We must do a better job, which reflects the project actually built and produces the revenue stream that was predicted. I believe that the best way to do this is to upgrade the quality and standards of conducting each of the three phases of feasibility study. This upgrade can only be done by spending more hours of engineering, geological, geotechnical, social and environmental study in all three phases of the feasibility process, which meet some industry standards. I believe that this setting of standards can be done by the collective efforts of SME, the MMSA and the NWMA. We must also do a better job of verifying the results of the feasibility study with due diligence before any outside investment is made to advance the project. I would hope that by taking this approach, over the next few years we could greatly improve the accuracy of our feasibility evaluation studies and, thus, improve our industry accountability.

Recommended Citation

R. L. Bullock, "Accuracy of Feasibility Study Evaluations Would: Improve Accountability," Mining Engineering, vol. 63, no. 4, pp. 78 - 85, Society for Mining, Metallurgy, and Exploration, Apr 2011.

Department(s)

Mining Engineering

International Standard Serial Number (ISSN)

0026-5187

Document Type

Article - Journal

Document Version

Citation

File Type

text

Language(s)

English

Rights

© 2024 Society for Mining, Metallurgy, and Exploration, All rights reserved.

Publication Date

01 Apr 2011