2.3.2 Feasibility Study
A feasibility study assesses whether the mining of a deposit is technically, economically, socially and environmentally viable.
Mining engineers first assess the tonnage and grade of the deposit, and then conduct ore extraction and processing trials.
Next they draw up a mine plan and try to determine the number of years’ operation required to recover the sums invested in mining the deposit.
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This is a very important study, for it is used to calculate the millions of dollars required to develop the mine.
A feasibility study includes a list of the capital investment required, a list of operating costs, a schedule, a list of start-up costs and a financial analysis.
The feasibility study must also include a description of:
- the site,
- local and regional geology and hydrology,
- exploration activities,
- the mineral reserves,
- ore extraction and processing methods,
- infrastructures and resources,
- labour,
- communal facilities.
