Faced with mounting challenges such as volatile commodity prices due to geopolitical instability, rising input costs, lower outputs and resource scarcity, mine operations require innovative solutions to realise cost and operational efficiencies to boost productivity and remain sustainable.
"The mining industry is used to variable commodity prices, but the pace of these changes has quickened," says SRK Consulting director and principal consultant Andrew van Zyl. "This complicates planning, creating uncertainty among developers about their project's economic viability."
New mineral projects must, therefore, adopt a flexible approach to enhance responsiveness to ever-changing market conditions to succeed in volatile times.
This approach should entail high quality technical studies and best practices in project design, development and implementation, with careful attention paid to each stage, from concept studies and feasibilities through to closure and social transitioning.
And an uptick in demand for feasibility studies, review and other services in the local market indicate renewed interest ad some stability, suggested SRK Consulting partner and principal mining engineering Marcin Wertz.
