Abstract
Throughout the life of a project, cost estimates are prepared at various stages of development to evaluate the project's economic viability. These estimates are typically used as part of an overall project 'stage-gate' process in which the continuation of a project is evaluated based on the information available. Consistency in the methods employed and data used to develop the cost estimates is essential to ensure appropriate decisions are made at each stage-gate evaluation. This is especially important during the early, or conceptual, stages of a project when limited work has been completed.
Through involved in both green- and brown-field international mining projects from the conceptual stage into eventual production, Sherritt Technologies has accumulated a number of learnings in the execution of mining capital projects. The following presentation shares some of these learnings to help improve the quality and consistency in developing cost estimates for mining capital projects. These learnings include:
- Possessing a strong understanding of the process and chemistry
- Defining and understanding battery limits of a project
- Accessing accurate and representative data for the estimate
- Employing consistent methodology to ensure repeatability of estimates