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Resources & industrial strategy

Mining

From ground potential
to portfolio value.

Strategic advice across the mining lifecycle: shaping exploration portfolios, evaluating assets and acquisitions, advancing developments, and restoring operating performance. We connect decisions at individual sites with the capital priorities of the wider business.

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Engineers surveying an open-pit copper mineKhatera Mining advisory
The decisions that shape a mining business

One asset in detail. The entire portfolio in view.

An attractive deposit does not automatically make the right investment. Its place in a portfolio depends on development demands, jurisdiction exposure, infrastructure, product quality and the company's capacity to execute. Our work links those considerations to a clear ownership thesis: what to explore, acquire, develop, improve, partner or exit. The scope can span a single company review or a multinational portfolio across commodities and continents.

  • Translate corporate ambition into explicit asset roles, investment criteria and capital priorities.
  • Assess technical and operating evidence alongside commercial assumptions and delivery constraints.
  • Turn strategic choices into accountable workstreams, decision gates and management routines.
How we help

Decisions that shape
the business.

Explore the scope of each capability and the practical outputs an engagement can deliver.

01

Strategic reviews & direction

Reassess where the company should compete and which assets deserve management attention and capital through the cycle.
  • Test commodity exposure, ownership rationale and growth ambitions against alternative market scenarios.
  • Compare organic growth, acquisitions, partnerships, divestments and cash preservation.
  • Set board-level priorities with explicit assumptions, trade-offs and review triggers.
What you take forward

A strategic agenda that connects corporate choices to asset-level action.

02

Exploration portfolios & strategy

Build an exploration approach with a clear commodity thesis, geographic focus and path from opportunity generation to investment decisions.
  • Define target areas, entry criteria and the balance between grassroots and more advanced opportunities.
  • Compare licence positions, access requirements, infrastructure and available geological evidence.
  • Sequence exploration spend through decision gates with explicit advance, partner or stop criteria.
What you take forward

A ranked opportunity portfolio and an exploration capital allocation framework.

03

Corporate development & M&A

Make transactions serve a portfolio objective, from identifying strategic gaps to evaluating targets and preparing for ownership.
  • Screen companies and assets for strategic fit, valuation logic and execution requirements.
  • Coordinate commercial, operating and financial diligence with the relevant specialist advisers.
  • Assess partnership structures, integration priorities, carve-out needs and routes to value creation.
What you take forward

A decision-ready investment thesis with diligence priorities and an ownership plan.

04

Asset & company reviews

Develop an independent strategic view of an individual asset, operating company or group of sites using the evidence available.
  • Review operating plans, cost structures, sustaining capital and product revenue assumptions.
  • Identify dependencies between resource confidence, mine plans, recovery and infrastructure.
  • Separate near-term performance gaps from structural limitations and longer-term options.
What you take forward

An asset assessment with sensitivities, evidence gaps and prioritised decisions.

05

Development & investment readiness

Connect project ambition with a development sequence that reflects capital availability, operating requirements and commercial readiness.
  • Compare project configurations, phased development and shared infrastructure options.
  • Challenge production, capital, ramp-up and offtake assumptions with project teams.
  • Structure decision gates around study maturity, permitting, counterparties and funding dependencies.
What you take forward

A development roadmap and a clear basis for the next investment decision.

06

Operational & strategic turnaround

Establish why performance is falling short and which interventions can change the economics of the asset or company.
  • Trace performance losses across mining, processing, maintenance, procurement and logistics.
  • Rank actions by cash impact, feasibility, dependencies and required management capacity.
  • Install ownership, performance reviews and escalation routines around the recovery plan.
What you take forward

A sequenced turnaround programme with measurable operating and financial milestones.

07

Mine-to-market economics

Evaluate mining and beneficiation choices in the context of the product customers can accept and the revenue the operation can realise.
  • Connect grade, recovery, product specifications and throughput to saleable output.
  • Examine blending, processing routes, transport constraints and destination economics.
  • Compare downstream partnerships and customer routes before committing expansion capital.
What you take forward

A product and route-to-market strategy grounded in asset economics.

08

Portfolio governance & operating models

Clarify how corporate teams and asset leadership make decisions across a geographically dispersed mining business.
  • Define decision rights for investment, operating plans, procurement and commercial commitments.
  • Standardise performance definitions while preserving the context of each asset.
  • Align management reviews, incentives and capital requests with portfolio priorities.
What you take forward

A practical governance model linking site accountability to group strategy.

The multinational portfolio

Allocate capital across more than a list of assets.

For large mining groups, the central question is how individual exposures combine. We bring assets onto a comparable decision framework while retaining the operating detail that makes each investment different.

01

Assets & ownership

Assess strategic role, ownership structure, partner alignment and the choices to retain, expand, combine or divest each position.

02

Jurisdictions & access

Compare permitting pathways, fiscal assumptions, infrastructure, local partnerships and country concentration alongside specialist input.

03

Stages & timing

Balance exploration options, development commitments, operating cash flows and closure obligations across the portfolio's investment calendar.

04

Commodities & markets

Test the mix of base metals, bulk commodities and precious metals against demand scenarios and overlapping revenue exposures.

05

Capital & execution

Make funding, management capacity, shared infrastructure and competing project requirements visible before prioritising investments.

The portfolio decision

The output: a portfolio map, scenario comparisons, ranked capital choices and clear actions for each asset, with the assumptions behind every recommendation visible.

Across the value chain

From grassroots exploration to a saleable product.

Decisions at each stage shape the options available later. We connect the investment case across the lifecycle and into downstream processing and customer strategy.

  1. 01

    Grassroots exploration

    Commodity thesis, geographic selection, opportunity origination and disciplined exploration budgets.

  2. 02

    Resource delineation

    Evidence maturity, further work priorities and the strategic options supported by available studies.

  3. 03

    Project development

    Development alternatives, capital sequencing, infrastructure access and investment decision gates.

  4. 04

    Mining operations

    Mine-plan economics, operating performance, sustaining investment and organisational accountability.

  5. 05

    Beneficiation & product

    Processing strategy, recovery assumptions, product quality, blending and saleable volumes.

  6. 06

    Market & downstream

    Offtake, customer origination, logistics and the case for links into smelting, refining or further processing.

Commercial strategy

Design the commercial route into the asset strategy.

A production plan needs a credible destination. We examine how product attributes, delivery choices and customer requirements affect the commercial case.

Value-in-use pricing

Assess how grade, impurities, consistency and processing performance influence customer economics. Use that view to inform product positioning, pricing assumptions and negotiation priorities.

Customer origination

Define target customer segments, screen counterparties and build an engagement plan around technical requirements, qualification steps, volumes and delivery needs.

Offtake & market access

Compare destinations, marketing partners and offtake structures with attention to freight, payability, working capital, counterparty concentration and operational flexibility.

Commodity perspective

A commodity-specific investment lens.

The framework stays consistent; the economic questions change with the product, processing route and end market.

Base metals

Copper, nickel, zinc and lead

Explore the relationship between resource quality, concentrate or intermediate products, downstream processing access and customer requirements.

Bulk commodities

Iron ore, bauxite and manganese ore

Assess scale, product specifications, blending, transport infrastructure and delivered competitiveness across destination markets.

Precious metals

Gold, silver and platinum group metals

Connect mine-life options, recovery assumptions, sustaining capital and processing arrangements to asset and portfolio decisions.

Putting the scope to work

Start with the decision
in front of you.

Illustrative engagement scopes, shaped around your assets, priorities and available evidence.

Let’s talk mining

What role should your next asset play?

Bring us a portfolio question, an exploration ambition or an asset decision. We can help define the choices, the evidence required and the work needed to move forward.

Discuss your priorities