Mining3 Structure and Governance
Mining3 is a fully incorporated joint venture between industry and research partners.
Mining3 operates under the legal entity CMTE Development Ltd. All of the industry and research participants in Mining3 are members of the company, which is tax exempt and limited by guarantee.
CMTE Development Ltd owns the intellectual property created in the course of Mining3 research activities, and is the entity that enters into research and commercial agreements with third parties to further develop and commercialise the outputs of the research.
Board and Committees
Mining3 is governed by a Board of Directors with three sub committees, the Research Committee, the Audit Committee and the Appointments & Remuneration Committee.
Board of Directors
The Mining3 Board of Directors sets overall policy, determines the strategic direction for Mining3 and oversees technology transfer and commercialisation activities. It meets at least quarterly.
In consultation with the Research Committee, the Board also directs the research focus of Mining3.
Mining3’s Research Committee is a working committee on research and development, and meets face to face at least three times a year. The Research Committee has four Technical sub-Committees that are responsible for overseeing the nature and quality of the research work of the individual research programs.
The objectives of the Research Committee are to:
- Develop new projects according to industry’s needs
- Review progress of ongoing projects
- Divert resources between projects dependent on progress
- Review annually the entire research portfolio
- Make recommendations to the Board of Directors on project research funding for each new financial year
Audit and Risk Committee
Mining3’s Audit and Risk Committee assists the Board in carrying out its duties in regard to the annual audit, financial reporting, risk management and legal compliance.
The committee is comprised of three non-executive directors, including the Board chair and is chaired by an independent director. The committee operates to Board approved terms of reference and charter. The committee meets at least twice a year.
Appointments & Remuneration Committee
The Appointments & Remuneration Committee is comprised of four non-executive directors, one of whom is the Board chair, who also chairs the committee. It meets as and when required and is responsible for reviewing the remuneration of all senior staff, recommending casual appointments to the Board when required, and recommending appointments to the boards of Mining3’s subsidiary companies.
The Chief Executive Officer (CEO) reports to the Board and is responsible for all of Mining3’s activities.