An Outstanding Business Outcome for a Large International Mining Company
The exploration group of a large international mining company had a total of 60 employees. Each group was subdivided into smaller groups located all over the world. Their job was to explore and locate potential rich ore bodies to drill, develop and turn into profit making ventures. Their budget was around $60 Million for exploration, drilling and development.
Every year the group would meet and try to distribute resources to locate world-class ore bodies. Each region would fight to fund their projects for drilling. It was stressful, painful and hard but eventually some would win out and others would lose. The Vice President of Exploration realized that he needed to do something out of the ordinary. We were asked to bring the management team and other key people together to cause a breakthrough in how they function as a team rather than siloes and individual regions. Over five days of appreciating the past, and what got them to where they were, they aligned themselves on a new future and unique ways to approach the challenge of discovery.
They created a vision called ”10 in 10″. That is, they committed to locating, drilling, evaluating and approving 10 new world-class ore bodies in 10 years. A guiding strategy to operate inside of and guide them. At the time, the best result you could hope for was 1 discovery in 7 years.
No longer operating as individuals with their own personal agendas, they constituted themselves to be one group. Looking from that view (or stand) they invented new possibilities for action. They reorganized their regions into one solid team that allotted all of their resources to the best projects, rather than by region.
They sent those resources, including human capital, to those regions. Regional managers let go of their personal agendas for the team goals and united behind one vision.
They also requested lowering their budget, as they wanted to show the company they could produce the same result with fewer resources. Within a short period of time, they produced 3 of those 10 world class ore deposits and were on target for their 10 in 10.
Not bad for a week’s worth of work!