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Formal communication is important to establishing personal trust among team members and with the client.
Exploration Phase
The period in the development of a mining, oil, or gas project focused on discovering and determining the size and quality of a mineral or hydrocarbon deposit.
Development Phase
A stage in the business cycle or project where new products, ideas, or projects are being developed, prior to commercial production or sale.
Exploration and Evaluation
Activities related to the search for mineral resources, including minerals, oil, natural gas, and similar non-regenerative resources after the entity has obtained rights to explore in a specific area.
Extraction
The process of removing natural resources from the earth, such as mining for minerals or drilling for oil, which can have significant accounting and environmental implications.
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