Why Mining Needs a Standardised Techno-Economic Analysis (TEA) Framework

How consistency in TEA reporting can unlock smarter investment and operational decisions across global mining operations.

In an industry where a single project decision can carry multi-billion-dollar implications, mining executives are under increasing pressure to justify not just what decisions are made, but how. Enter Techno-Economic Analysis (TEA)—a powerful decision-support tool that integrates process design with financial modelling to assess the viability of capital projects.

But while TEA is becoming more widespread, its application remains inconsistent across many mining organisations. Different teams, consultants, and regions often use disparate methods, assumptions, and reporting formats—undermining the very insight TEA is meant to deliver.

The Value of a Standardised TEA Framework in Mining

A unified TEA framework offers mining companies a way to benchmark, compare, and prioritise projects using a consistent set of technical and economic assumptions. It helps executives answer high-stakes questions with confidence:

• Is this project economically viable under current and projected conditions?

• Where are the technical and financial risks?

• How does this opportunity compare with others in our portfolio?

With operations increasingly spread across multiple jurisdictions, and with ESG compliance driving major investments in process water and tailings treatment, standardisation in TEA is no longer a luxury—it's a strategic necessity.

“Mining operations have historically relied on siloed TEA reports—each with different formats, discount rates, or assumptions about OPEX and CAPEX,” explains Vishnu Avudainayagam, co-founder of FloWire and a chemical engineer with close to 10 years of climate modelling experience.

“This makes ‘apples-to-apples’ comparisons and informed decision making, almost impossible."

“What we’re hearing from industry leaders is that they need a consistent, data-backed way to compare project economics across regions, commodities, and regulatory landscapes.”

The Problem with Inconsistent TEA Inputs

In many mining companies, TEA reports come from a mix of in-house engineers and external consultants. While each report may be technically sound in isolation, inconsistencies quickly become apparent:

• Different software platforms: Some use Excel macros; others use Aspen, MATLAB, or bespoke models.

• Variable assumptions: CAPEX, energy costs, recovery rates, and discount rates may differ—even within the same business unit.

• Subjective formatting: Reports often vary in how they present data, leading to confusion or rework at the executive level.

The result? Executives struggle to extract actionable insights, leading to decision delays, duplicated analysis, or suboptimal project selection.

A Leadership Opportunity in TEA Consistency

For mining executives, embracing a standardised TEA framework is not just a data initiative—it’s a leadership move. It signals a commitment to better governance, faster decisions, and more transparent capital allocation.

“When executives mandate a consistent TEA structure, it doesn’t just streamline analysis—it builds trust across engineering, finance, and ESG teams,” says Geraldine Terada-Bellis, cofounder of FloWire and former process engineer for innovation projects.

“We built FloWire to give leaders one shared system to run scenarios, test sensitivities, and generate defensible reports in minutes—not months,” she says.

A consistent TEA framework also supports long-term resilience by:

• Improving ESG planning through clearer lifecycle cost comparisons

• Accelerating approvals for site-level investments

• Supporting M&A by making project economics more transparent to external auditors

The FloWire Approach

FloWire is designed to bring structure to TEA—without adding friction to engineering workflows. It enables technical teams to build, update, and share models using standard templates and predefined assumptions aligned with corporate financial policies.

Key features include:

• Scenario-based modelling with customisable input ranges

• Integrated CAPEX/OPEX calculations

• Standardised output reports for executive review

• Collaboration tools for internal and external stakeholders

Conclusion: From Fragmentation to Strategic Clarity

Techno-Economic Analysis is a critical tool for mining’s future. But its value is only fully realised when it's applied consistently, transparently, and at scale. With FloWire, mining companies can move beyond fragmented spreadsheets and isolated reports—toward a unified framework that empowers smarter, faster, and more confident decisions.

In a volatile sector where clarity is power, standardising TEA may be one of the most quietly transformational steps a mining executive can take.

Interested in standardising TEA across your mining portfolio?

Book a demo, or reach out to schedule a walkthrough.