Mining ventures are
essentially risky businesses. Explorers and project developers (plus their
investors and financiers) attempt to minimise the risks involved or at least
manage them. Core considerations are the obvious technical and commercial risks,
but the socio-political system and regulatory environment in which the project
will operate can be more important. Successful mineral investments in a country
depend upon obtaining realistic and reliable technical results in a country that
provides certainty, to gain and maintain investor confidence in a project. Brief
commentary is provided on the usefulness of professional accreditation and
ethics plus other specific reporting codes (eg JORC/VALMIN Codes) in reducing
risks by reinforcing high technical competence and reputable individual
professional behaviour (particularly in the context of currently perceived high
corruption levels in so many countries). These various risk components are
reviewed, especially in a global context, to showcase New Zealand's
current position. Successful projects are those which provide investors with
credible and reliable optimal results in less volatile environments because
investors/lenders hate uncertainty and surprises even more.