Mining exploration company is a type of company that mainly operates in the field of mineral resource exploration. The main goal of these companies is to identify and investigate mineral deposits in different lands and regions. The mining exploration process includes geographical analysis, sampling, various tests and economic evaluation.
A mining exploration company is usually composed of specialized teams consisting of experts in geology, geophysics, geochemistry, and mining engineers. Using advanced techniques, these teams investigate different areas and try to identify mineable mineral deposits.
Mining exploration company’s activities include geophysical and geochemical studies, exploratory drilling, sampling, laboratory tests and economic evaluations. These companies need to carry out detailed analysis and technical and economic evaluations to make a decision about starting the exploitation of a mine.
If the mining exploration company succeeds in identifying extractable mineral reserves, it may establish a mineral exploitation company or assign mining rights to other companies.
