Richard Fifer made a huge research in the field of mining industry for the benefits of the Republic of Panama. According to him mining should be done in areas of large and well-defined space like his project of Petaquilla. The ores are the valuable sources of a mining industry. Richard Fifer suggests three kinds of ores to investigate scientifically and explore them. First are the deposits that are developed from solutions that bear minerals. The solutions may be fixed in its form like a crystal, a solid particle formed from clouds or replaced from another solution. The second type of ores is the particles that are gathered naturally or mechanically. The third type of ores is the particles that worn away by water, rocks or collections formed from fragments of rocks or pebbles, sand beds etc. These types of ores are formed naturally and it can cause many changes. These solutions of minerals from which mines are extracted are formed by the heat caused by the long narrow opening of the crust of the earth and the cracks between the rocks. The heat caused during the process creates waters and vapors. A chemical reaction is happened from which deposits of ores are formed along the surface of the earth. By his deep research in mining, Richard fifer suggests methodologies for the investigation made for finding the deposits of ores. The next step is to find the richness of the ore and to determine the plan of mining. The cost involved for the transportation of raw materials must be analyzed which is also significant factor in the process of mining. According to Fifer, the final profit obtained in the mining industry can be determined by the quality of the ores extracted during mining. He says that, in the current year, there are 46 concessions for mining metals like copper, gold, manganese and silver. Non metals like sand, clay, lime stone and production of stone from quarry also has concession.