1822 • Legacy tin tailings retreatment - B2 Concentrator in San Rafael • Ore sorting for cassiterite pre-concentration in San Rafael • Ore Sorting for copper and oxide pre-concentration • Underground mining dispatch system, optimizing production, improving safety, and reducing costs • Advanced Analytics in mill feed, optimization of acid dosing in VAT leaching process – Mina Justa • Advanced Analytics to increase gold recovery in leaching pads – Pucamarca Mine 3.3.4 The best talent for the project The success of our projects depends on having the best talent for construction and operation, fostering diversity, inclusion and the development of local capacities. Everything is done by the people. A strong culture of safety, sustainability and people’s care at the center of the decisions will lead the team to achieve outstanding results with the right leadership. This is considered in the following: • Project Team: Clear leadership, a shared vision of project objectives, and taking responsibility for project outcomes and deliverables. Focus on creating the right culture and environment to foster project team development and performance. Building trust, timely communication (zero surprises) and clarity of roles; and the right team size. • Operations Team: leadership team, people with good experience in both worlds: projects and operations, capable of designing an operation from scratch, incorporating real world considerations. Preference to give opportunity to employees from other mining units of MINSUR as a first option for new operating positions. Preparation of operators in the core skills required for the new technical roles and creation of local employability through the development of the required skills and capabilities. • Consultants and contractors: Contractors aligned to MINSUR’s values and sustainability culture. Hire the best consultants with a “fit for purpose” philosophy as strategic partners. Not all the consultants are good at everything. Creation of local employability for construction contractors through the development of the required skills and capabilities, implementing development programs run by the same contractors. Promoting the hiring of local businesses that meet technical and economic expectations. Creating local jobs and promoting local businesses is fundamental to developing opportunities for the communities. Trained people can find a job not just in our mine, but elsewhere when our project is completed. 4. DISCUSSION OF RESULTS There are two major projects developed and executed by MINSUR in the last decade using the project development methodology: a) Mina Justa ($1.7 Billion investment): This is a major open-pit mining IOCG (iron oxide, copper gold) project extracting and processing oxidized and sulfide minerals for copper production as cathodes and concentrates respectively. It begun operations at the end of 2020, with an average annual production of 120,000 tons of copper. • Project Value Management o Strong business case supported by certified mineral reserves, solid metallurgical test work to estimate copper recovery, Capex and Opex estimates, according to IFC and MINSUR standards o Capital cost overrun under 2%, and project completion on schedule o Rigorous risk management system, including time and cost provision analysis and change management: This also included investment risk analysis using Montecarlo tools • Technical Management o Good understanding of geology with 400 km of drilling, with a strong minable resource model
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