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Feasibility Studies in Mining Projects

A feasibility study is conducted in the pre-production phase of a mining project to assess whether it can be carried out economically. This way, it ensures stakeholders that the potential project is worth continued investment.

Generally, there are two types of feasibility studies. Prefeasibility studies are carried out in the early stages of the project, and detail the capital requirements, geological models, mine design, and factors that could challenge the outcome of the project, such as geographic obstacles or permits.

Feasibility studies cover most of the same topics, but must provide more accurate estimates and in-depth reports. The information here is also more specific, covering everything from technical and economical data to legal, operational, and scheduling information.

Key fact: Feasibility studies provide estimates that are within 10-20% accuracy, whereas prefeasibility studies can run between 20-30%

These feasibility studies evaluate whether a mining project is economically and technically possible, how much investment it requires, what operations are involved, what legal obligations there are, and how long it will take to complete. By optimising critical areas of the project, mining companies can maximise the value of their project to stakeholders.

Benefits

  • Provides valuable information

  • Improves mining team’s focus

  • Improves chances of investment

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