Corporate Exploration Strategies

The mineral exploration environment has observable economic characteristics, the assessment of which provides guidelines for exploration planning in the mining company. The long-term survival of the mining company is directly dependent on successful exploration. Exploration planning contributes to successful exploration through the development of exploration strategies. The objective of exploration planning is to select exploration environments which will enable the mining company to realize best possible profit and corporate risk conditions. Thus, the formulation of exploration strategies is based on profit and corporate risk criteria. Strategic considerations include the selection of commodities as exploration targets, geographic concentration of exploration effort, the realization of acceptable survival conditions, and the structuring of an exploration programme to optimize the economic benefits of the exploration investment process.