267 needs without compromising the project’s value. Provisions for potential or future expansions are considered and incorporated during the asset’s life cycle when necessary. • Planning for closure: The design and planning of the project’s main facilities consider the requirements of progressive closure, final closure, and post-closure phases. The objective is to leave a positive legacy for the community once mining operations have ceased • High performance team: Leadership and a shared vision are prioritized, with a focus on attracting the best talent across project development, operations, and contracting partners. Diversity and inclusion are embraced, with merit serving as the foundation for team composition and opportunity. • Risk Management: Comprehensive risk and opportunity assessments are integrated into the project, ensuring that appropriate control actions are in place to support informed decision-making throughout development. 3.2. The project development framework4 The generation of value for MINSUR through capital investments is framed in a StageGate model5. It establishes a disciplined and effective process of development and execution of strategic and organic growth projects. Each stage or phase generates information that is used to assess the value of the project and the certainty of achieving it. This is presented at each decision gate, seeking the approval of the senior management committee to allow the project to advance to its next stage of development. The Integrated System of Project Development called “MINSUR Way” describes the steps to initiate a project, perform an adequate planning, implement the project and deliver the final product and the value of the business case to the Company. The process considers the decision-making gates where the relevant studies are completed and presented, independent reviews are undertaken to ensure the quality and reliability of the results, and the funding to proceed to the next phase is approved. Prior to initiating a mining project, the exploration work shall indicate, with acceptable certainty and risk knowledge, that the mineral resources are sufficient in quantity and grade to justify a potential business case. This is called “Gate 0” The project development process pursuits the maximum value of capital investment, while the project competes with other projects of the portfolio for funding. To achieve this, four principles were defined: 1) The process is based on development phases of maturity separated by review and approval gates. 2) Gate review and approvals are required to proceed from one phase to the next. 3) Independent reviews are undertaken to ensure the work quality and soundness of the selected solution. The process commences with the screening of business initiatives with potential value for business; then, identifying investment opportunities that represent a clear business case to be
RkJQdWJsaXNoZXIy MTM0Mzk2