The mining life cycle can be broken down mainly into the following stages:

1. Exploration: During this stage, potential mining sites are identified and evaluated to determine their mineral resources. This involves conducting geological surveys, sampling, and drilling to determine the quality and quantity of minerals present. 
2. Evaluation Process: After exploration, the evaluation process begins. This involves analysing the data collected during exploration to determine the feasibility of mining at the site. The evaluation process includes economic, social, and environmental assessments to determine the viability of the project.  
3. Development Phase: If a mining site is deemed viable, the development phase begins. During this stage, the necessary infrastructure is constructed, such as roads, buildings, and mine shafts, and mining equipment is installed. This stage can take several years and requires significant capital investment.  
4. Production: Once the development phase is complete, mining operations can begin. This involves extracting minerals from the ground and processing them for sale. The production stage can last for several years or even decades, depending on the size of the mine and the amount of mineral resources available.  
5. Closure and Rehabilitation Stage: When the mineral resources have been exhausted or mining is no longer economically viable, the closure and rehabilitation stage begins. This involves decommissioning and dismantling infrastructure and restoring the site to its natural state as much as possible. This stage can involve significant environmental remediation efforts to minimize the impact of mining on the surrounding ecosystem.  

Each stage in the mining life cycle has its own unique accounting and bookkeeping considerations. Accurate financial management is critical throughout the mining life cycle to ensure compliance with regulatory requirements, manage costs, and track revenue. Effective bookkeeping can help mining businesses make informed decisions at each stage of the mining life cycle and maximize their profitability.