Sunday, June 17, 2012

When the bean counters rule

Lets face it, the world of business is the world of money. And by corollary, the entire decision making must be driven by money. yeah yeah Net present value, value creation etc are the terms bandied around all the time these days in the environs of the mines (when the cacophony surrounding the "sustainability" isnt drowning out everything)
in the midst of it all we seem to have lost track of what mining is about. the way i see it, it is the extraction of minerals within the earth and turning them into resources which are needed for human consumption aka mining and processing. but the critical part is, it is part of the extraction and processing which is the defining characteristics of mining. So mining is in the digging, its not in the money! as much as money may drive it, it is in the moeny. At the end of the day, mining is an engineering discipline. Something which requires disciplined study of sciences - from geology to chemistry to physics and applying the same to optimally extract mineral resource from the ground. something which people forget (sadly even companies who are into this sector) that there is a significant technical expertise involved in the mining industry. it is the miners and the geologists and the mining engineers who create the real value in a company.

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