Saturday, 20 April 2019
Mining Projects: Six Pitfalls that Threaten Delivery

Mining Projects: Six Pitfalls that Threaten Delivery

Although it’s equally true of other industries, it seems that the mining industry doesn’t have a great record of on schedule and on-budget project delivery. Moreover, it also seems that it’s not very good at learning from experience either, and a cynical observer might be excused for thinking that the same old mistakes are being repeated time and again.

What are the factors that contribute to sub-optimal project delivery? These tend to include:

  • Poorly understood geological and geotechnical aspects of a deposit, leading to inappropriate mine and process flowsheet designs
  • Inadequate metallurgical test work
  • Funding availability during the investigation and engineering phases
  • Overly optimistic development schedules
  • Human factors, including over-optimistic expectations that are spurred on by the need to promote project attractiveness to prospective investors
  • Insufficient preparation for construction and operations during the Feasibility Study (FS) phase
  • Insufficient engagement with local communities, stakeholders, regulators, government agencies and NGOs

Find further analysis in Willis Towers Watson's report attached below. 

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