Mine start is lengthy
Launching a new mining operation takes a lot of time / This is where advanced projects and producers come in
(PresseBox) - According to a study by S&P Global, it takes an average of 29 years to develop a US mine. Compared to other countries, this is the second longest time. It takes the longest in Zambia, namely 34 years. And this is especially true today, when firstly there are increasing efforts to become less dependent on China s raw materials and secondly important metals for the energy transition should be produced domestically wherever possible. No wonder there is already pressure on the US authorities to speed up the process of obtaining planning permission.
S&P took a close look at 268 mining projects, from the discovery of the deposit to the start of production. The five countries with the longest development times include the USA, Zambia, Canada, Argentina and Mongolia. Ghana, the Democratic Republic of Congo and Laos take the shortest time for mine development at ten to 15 years. In Australia, the average development time is 20 years. The fact that it takes so long in the USA in particular has now led to calls to revive the US Bureau of Mines.
Incidentally, gold mines develop the fastest worldwide, as S&P Global has determined. It takes an average of 15.2 years. By comparison, nickel mines take 17.5 years to develop. It is also interesting to note that companies with projects in Canada and Australia invest 81 and 57 percent more money respectively in the search for new deposits than companies in the USA.
Investors looking for producers can take a look at Calibre Mining - https://www.commodity-tv.com/play/news-flash-with-vizsla-silver-calibre-mining-green-bridge-metals-and-premier-american-uranium/ - a medium-sized gold producer that is active in Nicaragua and the USA. It is expected to produce 275,000 to 300,000 ounces of gold in 2024.
Sibanye-Stillwater - https://www.commodity-tv.com/play/mining-news-flash-with-sibanye-stillwater-aurania-resources-and-victoria-gold/ - produces gold and platinum metals, is active in the USA and South Africa and is now also focusing on battery metals.
Current company information and press releases from Sibanye-Stillwater (- https://www.resource-capital.ch/de/unternehmen/sibanye-stillwater-ltd/ -) and Calibre Mining (- https://www.resource-capital.ch/de/unternehmen/calibre-mining-corp/ -).
In accordance with ?34 WpHG, I would like to point out that partners, authors and employees may hold shares in the companies mentioned and that there is therefore a possible conflict of interest. No guarantee for the translation into German. Only the English version of this news is valid.
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Datum: 07.08.2024 - 06:16 Uhr
Sprache: Deutsch
News-ID 709706
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"Mine start is lengthy"
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