A gold producer will have to act from planning to production
phase minutely to reduce the cost:
- Planning: The entire mining should be planned in such a way
that ensure maximum productivity in the least amount of time. This
can be achieved by:
- Manpower planning in advance - onboarding experienced
people
- Start with the lowest cost mine, produce the gold and then move
towards higher cost mine
- In order to improve quality, increase the cut-off grade
- Reduce capex on mines where output is dubious
- Leverage technology to improve efficiency
- Deploy production visibility tools
- Unify reporting system
- Workforce planing
- Prior work experience people
- Ramp up manpower in line with production ramp up
- Production linked compensation
- Undertake more of quick-start modular plants and projects
- Improving the supply chain:
- global sourcing contracts
- Conitnuous negotiations with the service provider