“Less than 5% of all exploration targets ever turn into operating mines. This means that upwards of 95% of exploration does not lead immediately to any return on investment. The funders of exploration projects know this, and so they are usually keen to reach their decision points – on whether or not to proceed to the next stage of expenditure – as quickly and cost-effectively as possible. Confidence in these decisions is reliant on having reliable and accurate data.”
The integrity of data gathered in mineral exploration projects has become more critical than ever, as changes in the operating environment have prompted organisations to be constantly in pursuit of measures that can enable them to increase efficiency and contain costs. Usually, gathering reliable data requires meticulous planning and scrupulous execution. However, unfortunately, for most organisations, it turns out to be a time consuming and costly exercise, which does not always produce the desired quality of data.
Talking to African Mining Brief, four specialists in mineral exploration and mining from multidisciplinary, multinational firm SRK Consulting South Africa (SRK Consulting) and sister company, SRK Exploration Services, urge companies to adhere to best practice in data management as far as possible to ensure that they gather valuable data. This is after observing the common oversights in data management and their potential implications on long-term project viability. The four stress the importance of informed decisions on data collection, good planning and efficiency, as the impact of technology on verifying the integrity of the data collected.
