More than 10 years ago, it took 13 years from exploration to excavation, which has increased to 18 years. Precious metals also account for half of the total exploration costs.
In recent years, the demand for minerals has increased dramatically across the globe. Among other things, it is likely to reduce carbon dioxide emissions and increase demand in line with economic growth in developing countries. Therefore, in order to meet this need in the future, it is necessary to make significant investments in the opening and use of new palaces.
Mining projects have a long construction time compared to other industries. Taking 10 years from the initial search to the start of the excavation is not very remarkable. S&P Global’s research estimates that the time to start from exploration to exploration is between 6 and 32 years. The reasons for this include the method of mining, processing, the type and location of the palace, and the legal environment.
Source: mininginsight.mn 2024/ 09/23