How to start your own gold mining company

Published: 05 May 2019
THE last article looked at the way one obtains a Prospecting Licence and gets to peg a mine. Today's article will look at starting your gold mining company. After considering all the requirements for starting a gold mine business, we have to take a look further at analysing and drafting a business plan. The gold mining business is indeed a profitable business but you must be ready to scale through very high barriers before launching this type of business.

Mining activities include the on-site development of ore into a concentrate or bullion. Gold mining companies typically retain ownership of the semi-processed gold products and pay further refining on the toll-charge basis. The first point is to come up with an Executive Summary which looks at the company's goals and how they will achieve the set goals. The Executive Summary also looks at the market in summary and seeks to demonstrate all the activities that will be carried out by the company.

The next point of call is stating the Product and Services that will be provided by the company. The aim is mainly to maximise profits in the mining industry. In small-scale mining the products can be gold ore, silver ore, gold ore beneficiation, silver beneficiation and gold and silver bullion, ore and concentrates.

After talking about the Product and Services, the next stage is coming up with the Vision Statement. This may be to become the number one brand in the gold industry. There is then the Mission Statement which can be to build a gold mining company that will be listed among the top five gold mining companies in Zimbabwe. The Business Structure is the part that looks at the different positions within the company. The Chief Executive Officer is mainly the owner followed by the Mine Manager, there is the Human resources and Administration Manager, Accountants, Gold and mining casual workers, truck drivers and the customer service executives.

The writer Trynos Khumbulani Nkomo, an Insiza miner, writes in his own personal capacity.
- sundaynews
Tags: gold,


Latest News

Latest Published Reports

Latest jobs