270 • Operational costs must be built on reliable estimates. This is one of the most common problems why a project fails to deliver the value. The certainty and precision of the estimate of the operating cost will support the correct evaluation of the project’s value. Appropriate estimation methods should be used depending on the level of definition of the project, from a simple benchmark for screening studies to specific and deterministic estimates for the approval of project execution funds. The operating costs of the mine, processing plant, support infrastructure and services will be included, as well as administrative costs and other expenses such as the cost of sustainability and reduction of the carbon footprint. • Mine Closure Cost: the design of the project facilities must consider closure requirements to ensure an economic, responsible and sustainable condition for the environment and people long after the mine operation has been closed. The mine closure cost must consider a comprehensive vision that includes the technical part, sustainability requirements and the business closure to ensure a positive legacy. • Responsible operation: it incorporates an adequate approach to the Environmental, Social and Governance (ESG) requirements in the process of the investment evaluation to ensure the application of the best practices of the mining industry. It includes transparent community engagement plans, and sound environmental management systems to build trust during the whole project cycle, exploration, planning, construction, operation, and closure. Understanding these drivers and how we can address the challenges and risks in each case will define the project configuration and the minimum viable mine design that supports an acceptable business case. 3.3.2. Company´s Sustainability Strategy in project scope MINSUR´s sustainability strategy is based on 4 elements: safety and health of people; environmental care, reducing the impacts to the minimum and reasonably possible; responsible governance, being ethical and transparent in our decisions; and shared value, economic and social development of our people, suppliers and community. Environmental Care: Safety-in-design principles are currently applied, and a new concept is being considered “Sustainability in design”, incorporating the following: • Climate change actions to reduce CO2 emissions (scope 1 and 2) using cleaner energy and efficient operation. The use of renewable energies, energy efficiency, electromobility and reuse of mining waste. This is called “climate action and environment in design”. • Circular economy model to reduce the generation of mining waste, maximize resource productivity, and keep materials in use across multiple lifecycles with a sustainable supply chain. Applications such as reprocessing tailings, recovering by-products, preconcentrating, designing for reuse and revalorization of waste will bring significant
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