275 o Positive social impact. The new plant is operated by 60% of local personnel, specifically trained. It resulted in the creation of 150 skilled jobs and the development of several local service companies. o Reduces/postpones the extraction of new resources and extends the life of existing resource deposits. Small footprint for new facilities reducing the impact on biodiversity o Strong governance and high environmental standards since the beginning of the operation • Project Management o The project was developed at full stage-gate from the Selection Phase Study, applying IPR and external reviews for critical components, making it more reliable o A robust implementation strategy that enabled us to meet the schedule and budget, and that made it possible to reach production ramp-up and recovery as planned, despite having been developed during the pandemic. o Project team with solid experience in construction and tin process • Transition to operations o Early involvement of the future operations team from the Selection Study Phase. They planned and executed their pre-mining activities with an organization fit per purpose, with an active participation in the commissioning and start-up processes o Training and capabilities improvement for the future operators from local communities and employment of well experienced personnel to ensure a fast startup and ramp-up 5. CONCLUSIONS AND IMPLICATIONS FOR INDUSTRY This framework for the development and execution of projects, which combines business and sustainability principles, is helping us lay the foundation for future projects, balancing people, profits and the planet. 1. It is possible to integrate technical, sustainability, and economic factors from the initial project design. It is necessary to assess risks and opportunities at each stage of development to ensure its viability. 2. A mining project development framework, such as the stage-gate model, offers a disciplined and structured way to gradually assess investment risk before project execution is approved. It is essential to consider different aspects of the project, including value management, technical management, sustainability, project management, the transition to operations, and mine closure. 3. Project value drivers must be understood and assessed properly. Higher predictability of mineral resources to make business decisions at acceptable risk; and capital and operating cost efficiency. Don't wait until the end of the feasibility study to find out if the project can fly.
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