Diamond Project Development - An Holistic Approach
The recent euphoria in diamond exploration brings with it a requirement to recognize and understand the potential challenges that new projects can face in the various stages of development. Unfortunately, there are many examples in the mining industry where the commercial outcomes from new projects fall short of expectations. In many cases, the problems are related to a poor understanding of the technical risks associated with the particular deposit and a subsequent failure to adequately address them during the course of the study. Failure to evaluate all disciplines to the same level of certainty could lead to a situation where the important issues are only identified late in the project development, resulting in costly delays and financial difficulties. The diamond projects located in the Canadian Arctic, with its challenging environmental, geographical, social, political and geological contexts are especially sensitive to the high variability of these factors.
This presentation highlights some technical aspects that could be the leading sources of risk in diamond projects and could ultimately result in inappropriate mine designs that does not provide the best return on investment.
For a mining operation to be successful, it is fundamental that a holistic approach to risk management is taken from the early stages of the project development.