5 Ways To Add Value To Your Mine

5 Ways To Add Value To Your Mine

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Adding value to mining operations means improving factors such as profitability and productivity. In order to do that you need access to speciality mining studies and mining turnaround strategies. The following five ways of adding value to your mining project are just some of the ways expert consultants can help you boost your mine’s value.

1. Establish Feasibility

Any mining operation with should start with thorough exploration and feasibility studies as the first step of any speciality mining project. Feasibility studies are vital to studying the mineral resources available for mining as well as estimating total project costs. Therefore, mine owners will be able to determine whether the project has value before committing.

2. Budgeting and Planning

With the increased focus and pressure on production rates and profits in the mining industry, planning is often neglected to a great extent. Mining turnaround strategies, carried out by expert mining consultants, provide an external and focused means of keeping cyclical life of mine plans, mine plans and budget estimates up to date. By using consultants who can focus exclusively on this there is no conflict of interest with technical support and other vital areas.

3. Qualified Technical Reports

The relevance and accuracy of reports submitted by mines, especially those which they are required to disclose, form part of the mine’s value. If the project is seen as non-compliant with local and international regulations it can damage the reputation and business/investment potential of the project. Reports from competent persons and competent valuators will also serve to identify the values and risks of the project, according to established regulations.

4. Effective Training and Skill Transfer

An improvement of the skills in the mine’s workforce is an obvious value-add towards production and productivity. Bringing in expert consultants with the necessary skills provides an effective means of training and skills transfer between experts and mine staff. This also ensures that there is an expert present to do the work, as opposed to leaving the job undone while new staff are trained (especially in mines with a higher employee turnover).

5. Specialised Mining Consultants

All of these value adding services are available from speciality mining consultants. Experts like Ukwazi have been providing African mining solutions for decades, and that experience can be added intovarious aspects of mining projects. In this way they are able to add value to mining projects, as well as identifying areas needing improvement.

Contact a mining consultant and see how your mine’s value can be boosted.

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