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Gold Mining Companies
The gold mining industry as other industry want to obtain economic benefit, but they have other proposals such as respect the basic human rights, only mine in locations where affected communities have given their free, prior, and informed consent, do not mine in protected places, do not dump mine waste into natural bodies of water, do not mine where acid mine drainage would result, fully fund mine cleanup and closure, and allow independent review of social and environmental management practices. So, the social aspects are a part of any mining company. Avoid them, impossible.
When a mining company wants to developed a project is necessary to carry out an economical study no only considering the positive aspects such as recovery or a gold price very high. They make a well developed evaluation on technical and economical contingencies that can affect the project. A contingency is an accidental event that conditions the development of a previously scheduled action or activity. A technical contingency occurs when the event that has taken place does not allow a process to be developed as schedule, for example preventing consumption of minable reserves that supposedly were to be extracted in accordance with an original mine plan (e.g. unforeseen presence of deleterious impurities, refractory ore areas). An economic contingency takes place when the operation is exposed to financial event that prevent the expected profit from being reached (e.g. reduction of metal price).
Gold companies are used to rank problems by a serious analysis of many factors which can no be avoided. Ranking is necessary to prioritize problems because time could be a limited for brief period. Some times, problems are base on the nature of complex gold ores. The grade can vary widely between mines, metallurgical recovery, and environmental conditions. Gold mines think and don’t throw darts at reports pinned to a wall or prioritizing based on a hunch are not valid means of solving a problem.
An important aspect involved in a gold mining operation is on costs. Cutting costs and mining grades are almost universal mining industry responses to low metal prices. When staff has been cut and higher grade ores are being mined, the company looks for additional ways to cut costs that may very specific to individual operations. Innovative practices to reduce capital requirements, cut operating costs, and improve gold and silver recovery are the goals of gold companies.
A good practice oriented to analyze the status of a company require to study the interrelationship of various elements such as sampling, mineralogy, geology, metallurgy, economics, and environment. A smart and good experienced analyst may see how one of the items mentioned could change the normal development of any company. Perhaps, the key element is metallurgy. At the moment of analyzing is necessary to consider to areas: global and specific. Global study leads to identification of opportunities and management can assess the reward or risk associates with the changes in the operation. Specific study leads to identify key and particular aspects of the operation.
