Greenfield exploration and the design study sequence used to advance early-stage projects are a critical sector of the mining industry that provides the new mines needed to replace existing operations as they become depleted.  Investing in this part of the industry is widely recognized as highly risky given that most early-stage prospects are never developed. Yet, for all its importance, many industry professionals have only an incomplete understanding of how exploration projects and the associated design studies create value.

This presentation provides an overview of how exploration and the design study sequence moderates risk and creates value through staged investment even at the scoping study stage.  It also shows how AI and machine learning can increase the value and risk management benefits of exploration through reducing forecast error.  Of course, staging exploration programs and introducing AI is no guarantee that an early-stage mining project will successfully create value.  However, for an industry in which early-stage investments are viewed suspiciously, it is vital for mining professionals to have a framework with which to manage exploration and technical risk in a manner that creates value rather than inadvertently destroys it.

Available through CIM Online Learning Academy   https://academy.cim.org/cim/2021/webinars/308791