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The Energy Transition: How the growing demand for metals is fueling Mining Projects

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The energy transition is happening right now: the world is moving to a cleaner infrastructure. To make this happen, there is an increasing demand for metals such as copper, lithium, and nickel. These metals are needed to make the green transition possible. Therefore, experts expect a massive increase in mining project development and this doesn’t come without challenges.

 

Growing metals demand

The increased demand will place pressure on mining project developers. They need to increase the speed of setting up their projects while still delivering them within time and budget. Therefore it is likely that there will be a boom in mining project development and the industry will continue to deal with unprecedented price increases.

This challenges mining project developers to compete for capital on a limited capital investment market and deal with sustained scope changes due to increasing metals and mineral prices.

Project control challenges

When competing in a limited capital market, time is of the essence. Therefore, project cost engineers need to produce estimates within a small timeframe. This is a challenging task when scope, data and resources available are limited.

In addition, executing the budget resulting from these quick estimates can be challenging in these market conditions.

Traditional project cost management tools, such as Excel, make it even harder to manage mining projects.

Standardizing and consolidating the data, which is delivered by multiple stakeholders across different business units and locations, makes it even more complex.

4 major challenges the owners and contractors of these mining companies have to deal with are:

  • Executing projects within limited time and budget
  • Setting up estimates with limited scope and resources
  • Scarce access to data and cost estimate documents
  • Complex integration with other departments or locations

The integrated and digital approach

A solution to meet these challenges is using an integrated digital project cost management tool, such as Cleopatra Enterprise. Having access to a cloud-based solution where all your data, documents and information are centrally stored also offers you security and stability of performance and allows you to work with multiple disciplinary groups on different locations across the globe.

Having an integrated digital software solution that is easily accessible and integrated into the existing IT infrastructure, allows you to more accurately and efficiently set up solid estimates and deliver your project within time and budget. It also allows multiple users to work in one document that is centrally stored and secured in the cloud.

Our advanced integrated software solution Cleopatra Enterprise offers you the power and flexibility needed to easily set up accurate cost estimates during the development of projects and control costs during execution. This allows you to more efficiently manage and control the different aspects of your project during each phase of the project life cycle.

Do you want to know more about Cleopatra Enterprise and the solutions Cost Engineering has to offer? Please feel free to contact us.

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