6 Lessons Learned: Options

Business Venture: Understanding the Mining Business

Every year, people are digging things out of the earth’s ground and make billions of dollars by doing so. The amount of time and effort spent extracting the earth’s rocks and soil is remarkable since the earth contains outrageously expensive and extremely useful minerals. When it comes to some technical terms involved, mining is getting the minerals and ore from the earth’s ground while extraction refers to the collection of oil and gas. Gathering involves accumulation of gas and oil in preparation for processing and refinery. The the world would literally be ground to a halt if the art and science of mining, extracting and gathering were not discovered. If people are not engaged in mining then electricity would fail, anything that uses fuel is gone, and transportation would become redundant, because mining, extracting and gathering are the main reasons why we enjoy the modernization we have today.

People have been mining since the pre-historic times by chipping away at stone, metals and other useful substances, and mining is considered an old business. The process of mining involves prospecting for ore, and once it is assessed and the deposit is large enough for generating cash, then heavy machinery such as mining conveyors are used to scoop all ore and minerals, thus reclaiming the land. For gas and oil deposits, they are usually found between non-porous rock like limestone and porous sandstone wherein the process is more complicated like drilling in between these layers to hit the perfect spot. If you are planning to enter the mining business you have to be prepared to hire a strong manpower of miners, site managers, engineers and technicians who are experts in this area of utilities and energy industry. Before you can start mining a material, you firstly need to hunt for the perfect place where you can find ore body, big oil deposits or coal seam. Once you found the perfect spot on your map, then the serious work begins and be ready to earn billions and billions of dollars.

The two types of mining are surface mining and subsurface mining, and the majority of minerals are obtained via surface mining accounting for 80% of overall yields. The two categories of output are lode and placer deposits, wherein placer deposits are minerals and ore found in river gravels or beach sands, and lode deposits are found inside masses or rock or in “veins”. In subsurface mining, it involves the construction of shafts and tunnels just to reach the minerals and ore, and drilling is performed as a more straightforward approach in order to get further into the ground. If you plan to engage in a mining business, you’ll need a mudlogger, minerals surveyors, quarry manager and well site geologist among others.