26 May 2023
"I saw the call to join the round table in the newsletter,” says CIM student member Juan Camilo Garcia Vásquez. “I wanted to be part of it because I’ve tried to apply machine learning techniques to cost estimation in my assignments at university, but gauging data from mining projects can be difficult.”
The problem that Juan and so many others have identified is that there is very little guidance for cost estimation of mineral projects. The round table discussion at the CIM Convention was one step towards solving that problem.
Initiated by the CIM Standards, Leading Practices and Guidelines Directorate (SLPGD), the Cost Estimation Guidelines will serve as a “how to” on effectively managing cost estimating activities involved in a mineral project.
At the moment, “there is no available ‘one stop’ document for practitioners to use,” explains Samantha Espley, Cost Estimation Guideline Lead. “Our aim is to provide that guidance document. It will help with eliminating or reducing cost estimation errors as well.”
Juan, along with other fellow students and those new to the industry joined experienced practitioners at the Cost Estimation Guidelines round table during the CIM Convention. The high turnout at the discussion is a testament to the interest and need for this kind of guideline. Aimed at practitioners at any stage of their career, it is especially vital for those at the beginning to have up-to-date, industry-developed leading practices to follow.
The SLPGD is keen on receiving input from you. If you can assist in writing chapters or reviewing the document, please reach out now to CIM Project Coordinator, Jennifer Breaux. Meetings are bi-weekly, and the next big round table event will be held at MEMO in Saskatoon, September 17 – 20, 2023.
Whether you have extensive experience in cost estimation or are curious about how and why it might be important to the industry, your questions and comments are important to the success of this project.
Join the meetings, review the document, listen in on the discussion – your perspective is essential.
CIM is committed to developing and maintaining technical excellence and knowledge in the mining industry, and publishing standards and guidelines that go through a rigorous development process is one way to fulfill that mandate. The Cost Estimation Guidelines are currently in the drafting stage. The documents will progress through the review and revision stage, and then move through the approvals stage before being published and made accessible across the industry.
Cost Estimation Guideline project members:
Angela Hamlyn – CIM National
Jennifer Breaux – CIM National - Coordinator
Gary Poxleitner, SRK – CIM Guidelines Group, Committee Chair
Samantha Espley, Stantec – CEG Lead
Amy Boudreau, WSP – CEG, Technical Editor
Tech Content and Overall Guidance Leads:
Lawrence Devon Smith, Consultant
Tony Jervis, Teck
Theresa Nyabeze, Vale Canada
Jacqueline Allison, Board Director
Kevin Niemela, Cementation
George Darling, Mining Plus
Janice Zinck, Government of Nova Scotia
Jenifer Hill, JLH Environmental
Ross Pritchard, Teck
Kris Rautiainen, Stantec
Craig Waldie, Ontario Securities Commission
Victoria Vehl, BC Securities Commission
Erika Latourelle-Vigeant, Lautourite QC
“Many others joined in our first round table,” reported Espley, “and appreciation is extended to the six new members who have signed up to contribute.”
Please reach out now to CIM Project Coordinator, Jennifer Breaux if you can help during the writing and/or reviewing phases.
Sign up for the CIM Newsletter to find out when additional opportunities for input are scheduled.