Preparing A Feasibility Study Request For Proposal In The 21st Century

Developers of advanced mining projects face the challenge of how to craft a “Request for Proposal for a Feasibility Study” that will result in bids that are comparable and will lead to a successful execution of the study. Mining engineering consulting firms are challenged by “Request for Proposals” that may consist of a limited description of the Scope of Services and other items, which could present difficulties in the subsequent financing and/or development of the project. Changes in international disclosure requirements have also changed the landscape on how resources and reserves are reported by introducing new disclosure requirements and concepts such as qualified persons. This paper lays out a strategy for preparing a Feasibility Study “Request for Proposal” based on the experiences of a mining engineering consulting firm working on a diversity of projects around the world, and in light of the recent changes in international reporting standards for reserves.