One of the best ways to increase your chances of 'striking gold' when undertaking a mining project is to hire a contractor. Mining contractors bring together all the resources you need to succeed, i.e. skills, field experience, equipment, and labour. They, therefore, make the project simpler to undertake while bringing you closer to your goal. The tricky part with all this is finding the right contractor to hand over your project to. Below, see some of the important things to consider when prospecting for a mining contractor.
They have a good success record
On the field, people say that a good miner needs a special sixth sense to help them find material in the ground. It is said that miners with the extra sense will always succeed in the field while those who don't never will. With that in mind, find a mining contractor with that 'sixth sense'—someone with a success track record to show. If they have had lots of successes in the field before, chances are high that they will have more success with you in the future.
They have worked in the same industry
Mining industries are different. For example, the gas industry is very different from the coal industry. When it comes to field work, a contractor from a gas mining company may not be competent to run a coal mining company. With that said, find a mining contractor in the same mining industry as you. That is the kind of person who will know the equipment you need, how to set up a mine site and many other insider tricks.
They don't have financial problems
A mining contractor in financial straits is a risky pick. For one, mining is capital intensive so lots of cash will be needed for the daily running of the civil drilling project. If a contractor has debts or low cash flow, they may try to cut corners, e.g. using fewer workers or less equipment. And in extreme cases, you may find a contractor that wants to fleece you in order to better their financial standing; it happens. So for these reasons, find a contractor that is doing well (or okay) financially.
They are open to commission-based pay
A working relationship with a mining contractor is all about getting results and making a good return on investment. For this arrangement to work, it cannot be one-sided. The contractor, too, should be open to taking some level of risk. This is where commissions come in. If a contractor can agree to partial or full commission pay, that shows that they are willing to commit to the project 100% and that is a very attractive promise.
Note that you do not necessarily have to hire a mining contractor to run the entire project. You can hire them for consultation or project management services too.Share
18 November 2016
Welcome to my blog, my name is Blake and from now on, I will be writing a series of blogs which will deal with the process of finding and working with contractors when constructing a new building. I am not a construction specialist but last summer I gained a lot of experience in this area when I hired a team of 32 contractors to build a holiday home. When hiring contractors, it is important that you understand how to communicate with them and their ways of working. Below are a series of blogs which will help you to find the best contractors.