PDAC 2019 Session: Building the Mine We Want to See: Advancing Feasibility to Construction

The various stages of development from exploration through to the end goal of a stable, productive mineral project can be fraught with complexities leading to frustrations and delays. Several strategies can be employed to streamline the development process and mitigate risks of project failure or underachievement.

Right up front, it’s important to determine why a project is being fast-tracked, define what this means to the project team, and set clear project objectives. Aspects to be evaluated include:

• Key technical drivers
• Social and environmental factors
• Funding mechanisms and fund access requirements
• The final mineral product’s market and how the project fits into it
• Location and key in-country characteristics impacting project advancement
• Construction delivery strategy
• Execution team selection

Once up-front strategies have been developed, several best practice tactical processes can increase the effectiveness of project execution. These include:

• Evaluating and defining key technical considerations (nature- or mineral deposit-driven)
• Developing a realistic and detailed project schedule to manage progress
• Creating a simplified technical economic model to test results throughout execution
• Carrying out working design activities in parallel
• Implementing “cold eyes” and cross-functional reviews to identify bottlenecks and mitigate issues arising during design
• Establishing and maintaining a living risk register
• Determining who’ll make decision and what criteria they’ll use

Adopting these strategies and tactics can reduce the risks inherent in fast-tracking projects.

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