So many things are obviously not right about the mining industry as a whole, considering the ones owned by Africans. Though very lucrative at first and after sometimes you suddenly notice the dwindling fortune of the company. What exactly could be the cause of this unfortunate economic misfit of these companies? I made some research on some companies having similar problems. You ask them if they have a paper appraisal of the project, they answer by saying yes and yet you ask them the stage they are right now in the feasibility studies, some of the give you diverse kind of answer. Readers don’t get me wrong, am not saying those things I point out are the only things that are responsible for the liquidation of mining companies. I was only being concern about following some fact that could help in easy run of the company.
One specific fact I noticed is feasibility study……
Feasibility study can be said to be the demonstration on
paper, the technique and the economic viability or practicability prior to the
execution. This so called paper is said to be all inductive i.e it should take
in consideration the beneficiation, processing and local infrastructure like
communication, housing, power etc. you can also say that feasibility of mining
project is an engineering appraisal or economic appraisal of viability of a
project. The objective is to aim at clarifying some factors that govern the
chances of the success of the project.
Bearing this definition in mind, questions like what made
mining company fold up? What are they losing money heavily? Why is nobody doing
anything to persistence breakdown? The answer is not far fetch. They are all
traceable to lack of initiative to follow to letters the highly lucrative
letters embedded in the feasibility study.
I think we should take a little time to discuss how good
visibility studies of a mining company should look like………….
The following parameters should be looked at for a balance
feasibility studies
 |
| hands of neccesity |
·
Nature of the ore body: the prospecting has to
be sharp to explain the geological ore body, mineable ore body.
·
Ore reserve and waste to ore ratio
·
Selection of mining method
·
Production scheduling; this explains the extent
to which mining is planned and scheduled. This scheduling must adhere to some
carefully defined terms and these should be set forth at the beginning of any
feasibility report.
·
Time frame
·
Operation scheduling; this relates the annual
hours and scheduled of operation. It brings to mind the scheduled shift,
drilling and blasting periods, scheduled legal holiday, average tons per day of
ore, peak tonnage deliver to the primary crusher. Although there some factors
which could militate against these scheduling periods, these factors are said
to be judgment factors from the engineers which differs with experience from
similar mines. The factors includes
ü
Overall job efficiency
ü
Mechanical availability
ü
Annual outage factor
ü
Production utilization: the concern here is with
the amount of time on an annual basis that he machine is actually productive
Truly, this document has to be followed and thoroughly followed
by a qualified person employed by the management or probably a mining engineer
that smoothly runs the affair of the company. It is not only that, careful
selection or employment should be given to the qualified ones around the
company. So many people get to employ out of the contest without considering if
they are qualified for the job or not. The managerial level has to be very
conversant with the respective values that these employers give pre t
ime.
Downtime future assessment (DFA) should be regularly done to
closely monitor the production scheduling. There should be constant employee
job assessment to properly regulate job efficiency. Holidays should be granted
to reduce the risk of job dissatisfaction. Regular maintenance to the equipment
and machineries should be observed.
These amongst many are the key factors that I believe will
bring longevity to the existence of a mining company.
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