EXPLORATION & DEVELOPMENT

The return of the mega project?

Belt tightening in the mining sector over the past half-decade has meant that bigger has ceased to be better. Ultra-large projects with decades of life and multi-million-tonne annual production rates come with high risks and upfront costs that rise to prohibitive levels. And the certainty of the long-term production is matched by an uncertainty of long-term input costs; at one point, oil was in the triple digits and rising, after all.

Cameron French in Toronto
BMO: “In our view, we are exiting a hiatus in mega project development”

BMO: “In our view, we are exiting a hiatus in mega project development”

  Instead, the recent orthodoxy - notably embraced by former large-project champion Barrick Gold (US:ABX) - has been a preference for lower-cost, smaller projects that prioritize margins over volume....

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