How does Worley benefit from the local Peruvian market?

MP: In 2023, we saw a positive balance in Worley's activity in Peru. Our team has grown by 67%. We forged long-term relationships with customers, strengthening our delivery capacity in various large and medium-scale mining projects using local and international resources. We also solidified our Consulting business, which continues to grow in water, environment and ESG. We also support international projects by developing projects in other geographies such as Indonesia, Canada, and other Latin American countries.

What types of projects is Worley currently developing services for?

MP: We have been mainly developing services for brownfield projects in collaboration with key mining operators in Peru. Our services in these projects focus mainly on engineering (Conceptual Study, Pre-Feasibility Study, Feasibility Study, Basic and Detailed Engineering) throughout the life cycle of the asset, consulting, IPRs (high-level review of processes), supervision and construction management, mine digitalization and projects related to sustainability and ESG.

What has Worley focused on after acquiring Minera Mining Technologies?

AR: Following the acquisition of Minera Mining Technologies we have formalized partnerships with various entities and institutes, such as Australia's CSIRO. These collaborations aim to pioneer new leaching, concentration, and tailings technologies, focusing on reducing water consumption, minimizing energy usage, contributing to decarbonization efforts, and enhancing metal recovery in various processes. This strategic move is in response to the current regulatory landscape in Chile and Peru, aligning with existing laws and fostering a stronger business case for our customers.

Why is it essential to explore technologies that reduce water consumption in mining?

MP: There is a consistent trend across all mining projects, and responsible water usage is imperative. Any technology that can help reduce water consumption and use less energy to obtain it is worth exploring. Technology will also play a larger role in extracting, processing, and refining critical minerals. Aligned with our purpose as a company to deliver a more sustainable world, we have experience in various technologies for low-grade ore reprocessing, ore sorting, commingling, tailings dewatering, and mine backfilling, which reduce the amount of water used in the processes. This also represents benefits associated with a lower volume of waste, better physical and chemical stability within the residue deposits, and lesser environmental and structural risks.

How does Worley contribute to reducing carbon emissions in the mining sector?

MP: Considering the global shift toward a cleaner energy matrix, Worley has the capabilities to develop energy projects such as green hydrogen and the transformation of vehicles and electric mining units, among others, that can reduce CO2 emissions and have a positive impact. New technologies and innovation are critical to the industry's long-term sustainability because the challenges are greater from a geological, infrastructure, supply chain and regulatory perspective, reflected in increasing capital costs. For example, an innovation that enables cleaner, more efficient, and lower-cost copper mining and refining could help increase supply directly. One of the challenges we see may arise in achieving the balance between the speed of development of these technologies versus the cost of implementing them in mining projects.

AR: We have observed a general market trend spanning various industries, indicating that future prices are likely higher for companies not adopting technologies to facilitate decarbonization. Consequently, companies embracing such technologies and prioritizing sustainability are positioned for better pricing advantages than their counterparts. 

How does Worley prioritize social factors in addressing local challenges, particularly in Peru?

AR: Challenges are commonly encountered and shared at the local level. While slight variations may exist, the ultimate goal remains to develop a product economically, sustainably, and without adverse social and local community impacts. In Peru, the social factor holds particular sensitivity, but an integral aspect of Worley's value lies in appropriately recognizing and valuing these communities.

What is Worley's strategic vision for 2024?

MP: We see opportunities in the energy transition and battery materials segments. We will focus on commodities and customers with environmentally conscious operations, which will yield benefits for decades. As mining projects become more challenging, our business cases will demand optimal and tailored technical and economic solutions for each project's constraints. Developing technically sound projects that integrate technological, safe, and innovative solutions with a sustainable approach to promoting a circular economy will be advantageous. Our main objectives are to sustainably grow our local operations, attract and retain top talent to fulfill Worley's purpose and ambitions aligned with our customers' needs and objectives, and establish ourselves as a central hub to provide both open pit and underground mining services globally.

AR: The need to shift human behavior towards maintaining and developing a sustainable planet is rising. Specifically for Peru, a country abundant in natural resources, there is significant potential for sustainable development.