Starting any business is quite a feat. In the beginning, especially, it can be a very scary and daunting task. Starting a mining company can be a little more stressing than most. There are a few more people you have to have on board and the government needs to be your best friend.
When you talk about digging into the side of a mountain or into the Earth, some people tend to get antsy and rightly so. This precious planet only has so much oil, minerals, and precious ores.
However, for the most part, running a mining business is no different from any other business. Applications may be different, but the process is much the same. Below are some things to keep in mind.
Whether you go on a vacation, are a teacher getting ready for the school year, or just headed to the grocery store, there is one action that makes every future action easier to complete. A plan. Before starting a business, make sure you take the time necessary to create a solid business plan. This is the foundation of any good business.
How solid do you want your foundation? There are many things you will have to keep in mind. You will most likely need the financial help of at least a few other investors. Your plan needs to cover everything they will want to know. Otherwise, you’ll miss out on the funding to even begin. What will your company do in the case of a major catastrophe or if the stock market crashes?
Who do see as your main consumer audience? Depending on the type of mining you plan to do, this could range from companies like BP to the Diamond Trading Corporation. Consider your hiring practices and overall business policies, as well.
The next step is to staff your operation. In many cases, who you hire will determine the success or failure of your company (no pressure.) From the top to the bottom of the ladder, you need to make sure that everyone you hire has the experience needed to do the job not only correctly but enthusiastically. For example, recruiting a truck driver is just as crucial as a general manager. So, make use of truck driver recruiting software like Tenstreet to hire someone with exceptional experience and perseverance.
If they have the skill but don’t care about their craft, you may be risking a catastrophic failure. That may sound overboard, but when you take in the dangers of mining, such as cave-ins, explosions, and heavy equipment malfunctions, you need to make sure that your employees find satisfaction in their job.
Besides, that satisfaction may drive them to protect your investments in equipment and product as well as their lives. When considering the management staff of your company, it’s a good idea to make sure they have actual experience in the field of mining. This gives them a clearer perspective on those under them and will help problems be solved swifter and smoother.
When starting a mining operation, there must be a plan for maintenance. Depending on the type of mining you venture into, there will be several parts and pieces of equipment that will wear out, tear up, or simply need to be replaced.
Drills, blasting tools, earth movers, crushing equipment, conveying, and online elemental analysis equipment are just the basics. You will also need pumps. Again, this depends on the type of mining you invest in, but these can range from slurry pumps to borehole pumps. Safety also falls under maintenance.
It would be more than ignorant to forget to arm your miners with personal protective equipment. Mines need proper lighting and a tested plan of escape and policies addressing what to do if miners are unable to escape.
There is a lot to consider when starting any business. Hopefully, these tips will help guide your next venture into the world of mining.