Decision-making criteria in rare earths exploration projects: an interview study Online publication date: Thu, 13-Aug-2015
by Polina Klossek; K. Gerald Van Den Boogaart
International Journal of Mining and Mineral Engineering (IJMME), Vol. 6, No. 3, 2015
Abstract: When the rare earth prices skyrocketed in 2011, over 400 exploration projects appeared in the rest of the world (ROW). Before an exploration project comes into production, it has to pass through various stages of project development and face multiple challenges at each of these stages. According to Cooper's stage-gate system, a decision about whether to move on to the next project stage should be based on the evaluation of certain criteria. The case of rare earth elements (REEs), however, differs from other metals in terms of mineralogy, market, technology, environmental issues and strategic importance. Therefore, the decision criteria might also partly differ. To find these criteria for the case of rare earths, interviews with decision-makers from several rare earths projects at different stages of development were conducted. In this paper, obtained criteria are listed, explained and analysed for each stage/gate. Suggestions about their application to project management are made.
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