1819 Figure 2 –MINSUR Stage-gate project development process The development of every project phase includes five groups of disciplines required to ensure the viability of the project from different points of view, to reduce the investment risk and support the decisionmaking process to implement the project. Each discipline presents requirements that must be fulfilled according to level of project definition corresponding to the phase. The group of disciplines are: • Project Value Management: realizing the benefits of the project strategy aligned to the business Case. It includes reserves, marketing and commercial, Capex, Opex, risk management and Investment Evaluation • Technical Management: ensure that the technical solution achieves the expected results and requirements of the business. It includes Geology, Resources, mine design, metallurgy & processes, mine residue management, infrastructure, Engineering & Design • Sustainability: Meeting the needs of the project without sacrificing or damaging the surrounding environment, communities and biodiversity. It also includes safety and occupational health, permitting, legal, land acquisition, and compliance • Project Management: delivering the product by achieving project objectives applying a standard approach which includes the management of the project scope and delivery model, key stakeholders, project planning, project execution plan, project control, change control, risk and uncertainty • Transition to operations: Be ready to operate the asset and achieve business objectives through the plant start-up and production ramp-up. It includes the operational readiness (Operation, Maintenance, etc.), and the business readiness (logistics, accounting, finance, HR, legal, corporate affairs, etc.) 3.3 The Sustainable Value Enablers in MINSUR´s Investment Project Development Model Minsur is committed to a sustainable operation, integrating principles of circular economy, energy efficiency and operational excellence. Emphasis is placed on understanding the project drivers and risks in every development phase, a constant alignment between the business strategy and the project scope, including the sustainability and technological roadmaps, and getting the best talent to develop the project and deliver the benefits and value proposed to the shareholders. 3.3.1 Understanding the project value drivers The success of a mining project is not measured solely by the achievement of the project objectives; but how does it meet its value proposition for the business, once executed and put into operation. The creation of sustainable value in a mining project is driven by several variables that will be considered during the
RkJQdWJsaXNoZXIy MTM0Mzk2