The third stage of a project Committed Stage. Projects at this stage of the development cycle have completed all commercial, engineering and environmental studies, received all required regulatory approvals and finalised the financing for the project. Such projects are considered to have received a positive Final Investment Decision from the owner, or owners, and are either under construction or preparing to commence construction. Typically, projects at the Committed Stage have cost estimates, schedules and mine output that are well defined and often publicly released. Nevertheless, plans are subject to change due to schedule delays, scope changes and cost overruns even after construction has commenced. In most cases, projects at this stage of development have already started construction as there are typically pre-works undertaken as part of exploration and design activities. Most projects that progress to the Committed Stage will eventually commence production. Post-FID, there are still schedule, technical and financial risks that, if realised, can affect the commercial viability of a project and possibly lead to its cancellation. In total, nine projects received a positive FID with a combined investment value of $3.3 billion. While this is only one project less than the previous period, the total of additional committed investment was $9.9 billion lower as no ‘mega’ projects were approved over the past six months. here a some projects that have developed into committed stage since October 2012: Charters Towers (QLD), Dargues Reef (Majors Creek) (NSW), Dugald River (QLD), Hera (NSW) Lady Loretta Expansion (QLD), Longford Gas Conditioning Plant (VIC) Port of Townsville Upgrade - Berth 8 (QLD), Roper Bar (NT), Tomingley (Wyoming) gold project (NSW)
Posted on: Tue, 23 Jul 2013 21:27:09 +0000
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