264 FORGING MINING PROJECTS FOR A SUSTAINABLE FUTURE Y.A. Gallo Mendoza Vice-president of Projects, Mining Division MINSUR, (yuri.gallo@minsur.com) ABSTRACT The overdemand of metals represents a major challenge for the mining industry as highgrade mineral resources are scarce and the development of mining projects from exploration to sustainable operation takes an average lead time, reaching 15.1 years1 in Peru for those that became operational between 2020 and 2024. In addition, the exploitation of minerals with increasingly lower grades becomes more intense in operating cost and sustaining capital, which, in an environment of volatile metal prices, generates a higher investment risk. Project development and value delivery will now incorporate these challenges and address new technologies to improve productivity and balance between social, environmental, and economic factors to achieve sustainable development, enabling mining companies to transition to a clean and sustainable economy. This paper presents the principles and framework adopted by MINSUR to develop capital investment growth projects from mine design to operation for a "sustainable operation with value creation" using the stage-gate methodology for project development, considering sustainable value enablers such as, the project value drivers, incorporating the sustainability strategy in the design, understanding the technology and managing the best talent, and how they were used to deliver the Mina Juta and B2 Projects on time and on budget. KEYWORDS Sustainable Infrastructure and Mine Design, World Mining Congress; Project development framework 1. CONTEXT AND PROBLEM STATEMENT The mining industry is undergoing significant transformation to meet the demands of a growing global economy while addressing urgent challenges such as climate change, social and geopolitical disruptions, and high uncertainty of markets. Experts2 forecasts indicate Global copper demand is set to surge 24% by 2035, rising by 8.2 million tonnes per annum (Mtpa) to 42.7 Mtpa. The future mining projects shall address this challenging environment driven by higher costs, undergoing innovations, long permitting processes, ESG (environment, social and governance), and circular economy practices which are transforming the way we are designing the new mining operations to reduce environmental impact and achieve operational efficiency from production start-up to closure. New mining projects must include development methodologies including the technical, sustainability and business factors to deliver value to
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