TerraNova Copper & Minerals Group Business Plan — Management & Governance

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Section 12 · 13 of 21

Management & Governance

A mining project of this scale is only as strong as the team that executes it and the governance that oversees it. The plan assumes the assembly of an experienced mining executive team, covering block-cave mining, metallurgical processing, projects, finance and ESG, supported by reputable engineering, procurement and construction contractors for the build.

Executive team composition

The plan assumes the assembly of a seasoned executive team with directly relevant mining, processing and finance experience. The indicative structure below reflects the capabilities a project of this scale and complexity requires.

Role

Mandate

Chief Executive Officer

Overall strategy, funding, stakeholder and board leadership

Chief Operating Officer

Mine, processing and integrated operations delivery

Technical / Mining Director

Block-cave development, geotechnical and reserve management

Chief Financial Officer

Treasury, project finance, reporting and controls

Processing / Metallurgy Head

Concentrator, smelter, refinery and by-product recovery

Projects / EPC Director

Capital delivery, contractor and schedule management

ESG & Sustainability Head

Environmental, social, rehabilitation and community

Commercial / Marketing Head

Offtake, logistics, pricing and customer relationships

Board and governance framework

  • Independent-majority board with audit-and-risk, technical, and social-and-ethics committees.
  • King IV governance with transparent reporting appropriate to a JSE-listing candidate.
  • DFI oversight through lender board observers, technical advisers and independent engineers monitoring the build.

NoteGovernance as a financing condition

Development-finance institutions typically require independent-engineer sign-off at each drawdown milestone, environmental and social action plans, and covenanted reporting. Building this governance in from the outset both satisfies funders and protects equity investors, aligning oversight with the delivery of the critical path.