The CEO who led OZ Mining Company to take off again was named Andrew Cole.
Yes, it is Mr. Cole, the current CEO of West African Mining Company.
When Andrew Cole took over as CEO of OZ Mining, he first conducted a three-month business review and proposed a new company development strategy.
After clarifying the new strategy, OZ Mining took three major actions: one was a cost review; the second was to expand the Prominent Hill copper-gold mine project; and the third was to start construction of the successor resource Carrpateena project.
After that, OZ Mining Company greatly increased its revenue and successfully got back on track.
Now Barron has hired Andrew Cole to West African Mining Company as CEO in advance. After acquiring OZ Mining Company, he will first integrate it into West African Mining Company.
However, although it is known that the Karapatina mining area has extremely high reserves, the West African Mining Group does not plan to develop there in the short term.
Mining ore is actually not as easy as many people imagine. It is not that you can start working quickly after discovering the ore deposits and then get a harvest.
A mining project requires a long period of time from project initiation to final production, and the larger the mine, the longer it takes.
According to statistics on the world's 35 largest mines, the average time from discovery to production is 16.9 years, with the shortest being 6 years and the longest being 32 years.
During this cycle, the longest time is spent on mine exploration and research, which takes an average of 12.5 years, almost three quarters of the total investment time.
However, it is worth mentioning that the mines that have invested the longest time in this phase have usually undergone multiple changes of ownership and research revisions.
Generally speaking, the top mines enter the mine construction phase 1.8 years after the feasibility study is completed.
Ideally, construction would begin soon after a feasibility study is completed; but for some mines, it can take three to five years before construction begins, partly because they want to continue to increase reserves before construction begins, or because they face issues with mining permits, licenses, funding and community protests.
The more developed a region is, the longer it takes to pass environmental review before mining can begin. Australia is considered to be relatively relaxed in this regard among developed regions, but it still takes sometimes up to a year or even several years.
Just like in the original time and space, after the Karapatina mining project was approved, it took several years to obtain environmental approval from Australia, and then it did not start to have production capacity until 2020.
Of course, this is also related to their limited funds at the time, which affected the development progress, but it also shows that mining in a place like Australia requires a lot of coordination and approval.
Moreover, the Karapatina mining area is not the easiest open-pit mining area, but requires underground mining. Therefore, a lot of preparatory work is required for mining here.
Just like the basic infrastructure in a mining area, it requires camps that can accommodate hundreds of people, road construction and even simple airports, etc.
There are also a lot of supporting infrastructure for ground production, including mineral processing plants, tailings ponds, underground material transportation systems, mine access roads and external transmission lines.
Generally speaking, the initial investment for a large-scale mine may exceed US$100 million or even tens of billions of dollars.
After all, at this point, there are almost no open-pit mines like those that are easy to mine left, and almost all of the new mines that have been discovered now require underground mining.
Moreover, these mines are often located far away from cities and are very desolate. Before using mechanical equipment for mining, necessary facilities need to be built there first.
…
"What do you think of Australia, babe?"
This time Barron and his friends came to Australia not just for fun, but because it was winter in London. After Bonnie was able to temporarily get away from company affairs, Barron wanted to choose a place with a suitable climate so that she could give birth comfortably.
"It's not bad. I came to Melbourne with my family when I was a child. I didn't expect it to be so well developed now. But it's okay to live here for two months. If I stay for too long, I'm afraid I will still feel uncomfortable."
In this case, Barron bought a villa here and will live in Melbourne for the next two months. After that, it is not impossible to move to another place. Anyway, they have a whole team of medical staff to take care of Bonnie, so they don't have to worry about any discomfort during the journey.
Bonnie's cousin, Countess Chris, will also stay in Australia with Bonnie during this period, so that even if Barron needs to go somewhere else occasionally to handle affairs, he doesn't have to worry about Bonnie feeling bored.
It just so happens that Earl Bute will be in Australia recently to deal with matters following the Stuart Mining Group's acquisition of the Prominent Hill copper-gold mining project, so he will need to stay for a while.
But what Barron didn't expect was that a few days later, Earl Bute's sister, Jenny Bute, also came to Melbourne...
"Smoking is not a good habit, Jenny..."
Jenny Butt did not live in Earl Butt's villa here, but booked a suite in the hotel.
As for why... when Barron asked, she looked at him with a half-smile and said, "It will be more convenient to have a tryst this way"...
At this time, after a period of intense knowledge learning, Jenny Butt picked up the lighter and lit the lady's cigarette in her mouth with a "ding" sound.
Read the original text at Liu#9@书/吧!
Barron waved his hand at the smoke she exhaled and said with a frown.
"Sometimes you seem too self-disciplined, Barron, like a Puritan, but sometimes you are so..."
Jenny showed a charming smile:
"But when I couldn't help but explore your complicated heart, I fell into it unconsciously..."
Well, after all, aren't you just greedy for my body?
"How is John doing lately? I heard that the situation of Sinclair Group is not very good."
"I don't really care about his business, but it's true that he comes home later and later, and he's starting to get used to drinking. If I didn't know it was impossible, I would have thought he was having an affair."
Jenny Booth's tone was a little indifferent, which made Barron a little confused about the relationship between her and John Smith...why did she marry him? With Jenny Booth's background, she didn't have to choose this marriage because of the Sinclair family.
But in the final analysis, to Barron, Jenny Boot was more like a pure friend (P) (Y), so he was not very interested in getting to know her too deeply and did not ask.
After the Sinclair Group replaced its new chairman, and their eldest brother, David Smith, was in a coma and hospitalized last time, his condition has not been good. These events caused the Sinclair Group's stock price to fall a lot in the following period of time.
It wasn't until before Christmas that their stock price stabilized slightly, but it had already fallen by more than 25%…
During this process, IC Capital took the opportunity to absorb some stocks from the secondary market. Now, the proportion of Sinclair Group shares they hold has exceeded 12%...