Projects
We have a structured approach to project development that we apply consistently throughout the Group. We carry out several phases of testing and screening before finally deciding whether to invest in a new operation. We begin with exploration; then if we decide that a target is sufficiently interesting to warrant further assessment, we move it into the evaluation phases of the project pipeline.
- Approach
- Results
Our projects evolve along a defined path of exploration and evaluation.
Each stage represents a progressive increase in confidence that the project meets the technical and economic parameters of our investment criteria. Success at each stage sees the project move forward along the pipeline. If we take the decision to invest, the project moves into an implementation phase, which includes detailed engineering, procurement and construction management, and then into production.
Achieving good management of our projects in terms of sustainable development is as important to us as the value of the resource itself. To meet demand for our products, we are moving into areas that are increasingly remote and undeveloped, and have more complex geologies and projects. Having a disciplined approach to project planning is more important than ever, and the sustainability agenda is always at the forefront of our thinking.
We use common business tools to ensure a uniform approach, incorporating technical, commercial, social and environmental elements into all our decision making. In the last year we have further strengthened our focus on the sustainability aspects of project development and implementation with the formation of a new team with overall accountability for all systems, tools and methodologies used across exploration and project development activities Group wide.
