Stabilised the on-site commercial function and overcome severe working capital constraints of this mine and processing plant, employing 300+ people with a turnover of ~$200m pa
Key achievements:
- Enabled the mine to remain operational by urgently establishing a rolling 13-week cashflow, identifying critical dates and prioritising turnaround actions
- Restored the supply of products and services through urgent negotiation with suppliers, stabilised the commercial relationships and agreed on payment postponement plans
- Negotiated interim sales of stockpiled copper concentrate to accelerate the receipt of revenue and reduce the lumpiness of inflows to ease cashflow pressure
- Reduced the logistics spend by 18% by rationalising the number of suppliers through competitive tender and introducing continuous improvement into all new contract arrangements
- Transitioned to a new off-take agreement with a concentrate buyer and formalised freight management processes to enhance supply chain monitoring and control
- Restructured the commercial team by recruiting site based roles, formalised role descriptions and instilled performance management principles to ensure a stable performing team
- Implemented a first principle budgeting process and cost management culture
- Developed month-end packs for Board reporting
