The world had been forced into monetary subsidence by the oil value stun, the mounting expenses of the Vietnam War and other financial elements. The cost of all ores fell pointedly, including nickel, Western Mining’s significant profit generator since 1970. The seriousness of the downturn was highlighted by breakdown in Western Mining’s business sector capitalization from more than $4billion in present dollar value (484 million dollars in 1972) at the stature of the nickel blast in 1972 to just 800 million dollar in 1975.
The accomplices of Western Mining Corporation specialized and market sector motivations to initiate the task with the least conceivable financing. The political danger of support being withdrawn by a future government was an extra motivation to pick this methodology. As a result, Western Mining Corporation in 1972 approached Australian top colleges for the most splendid junior geoscientists before Western Mining Corporation were even graduated, and actualized an assemblage of what these days’ experts of HR (Human Resource) would call imaginative ability management programs.
Financial issues also became a harder obstacle to overcome before finally initiating the critical work, which prompted the ore-body discovery at Olympic Dam. The sums invested in Olympic Dam are another measure of the difficulty of bringing it to life. Exploration, feasibility studies and a pilot plant to test metallurgical processes cost almost $450million in current dollar terms. This was just to get Western Mining and BP to a point where Western Mining Corporation could decide whether to go ahead with the mine.
The amounts invested into Olympic Dam were an alternate measure of the trouble of bringing it to life. Investigation and exploration, plausibility studies and methodologies and manufacturing of a pilot plant to test metallurgical methods was calculated to be practically around $450million in present dollar terms. This was just to get Western Mining to a point where they could choose whether to proceed with the mine or not. The corporation decided to take the risk.