AUDITING

Mining Industry
“Mining Lifecycle and Phases“

Exploration
This is the first and most essential step of
the mining process. Companies must first
find an economically sufficient amount of
the deposit (an amount of ore or mineral
that makes exploitation worthwhile).

Development
It refers to the process of preparing a mine site for
production of ore. This involves building access
roads and stripping the overlying waste material in
order to expose the ore and establish the initial
bench geometries

Extraction
The term "extraction" in mining refers to the
systematic procedure of mining and
retrieving valuable minerals from the earth.
This includes the removal of topsoil, gravel,
rock, clay, sand or other earth material.

Processing
Once the mineral is extracted, it is often
processed to extract the valuable metal
from its ore through chemical or
mechanical means which will depend on
the mineral resource present.

Mine Closure
Mine closure is the period of time when
the ore-extracting activities of a mine
have ceased, and final decommissioning
and mine reclamation are being
completed.

Trivia Facts!!!
Auditing is an essential process in the mining industry as it helps to ensure that
the industry is operating in compliance with environmental regulations and safety
standards. Audits provide mine management with valuable information to direct
the decision-making process toward effective cost savings and possibly reduced
liability resulting from environmental infractions .