The big issues facing mining decision makers in Australia in 2023
We’ve reviewed the key issues impacting underground mining in 2023 – particularly those impacting operational development and profitability.
1. Skills & Labour Shortages
Staff turnover and skills shortages in areas such as drilling are both costly and time-consuming for mining operations. For decision makers, this presents challenges with productivity, consistency, and efficiency of operations.
“The Australian economy is facing the worst skills and labour shortages in a generation and the minerals industry is experiencing severe shortages in a range of occupations, from drillers and drivers to mining engineers, geologists and metallurgists.”
Source: Minerals Council of Australia.
2. Technology Adoption
Australia’s mining sector is one of the most technologically advanced in the world. The rate of progression in technology and it’s influence on modern mining methods means mining decision makers must always remain focused on trial and adoption of new technologies that can benefit the mines operations and profitability.
“One hundred years ago, it was commonly accepted that unless you were mining ten grams per tonne of contained gold, you were not making any money. Technology will drive such cut-off grades even lower, by lowering exploration and exploitation costs.”
Source: AusIMM Bulletin.
3. Decarbonisation in Mining
Arguably the most topical and important issue in mining globally. The Australian mining industry is committed to achieving net zero emissions by 2050, and decision makers already have KPIs relating to this goal.
“This ambition can only be achieved through significant investment in technology. Member companies are proactively adopting or considering a range of existing and emerging technologies.”
Source: Minerals Council of Australia.
4. The Impact of Operational Delays
Operational delays in mining can often be unavoidable due to both internal and external factors. Nonetheless, the impact of delays on productivity and subsequently profitability are an ongoing issue for senior decision makers. What can we do to offset delays in operations and recover profitability?
“More than four out of five mining projects come in late and over budget, by an average of 43 percent.”
Source: McKinsey & Company.
Minnovare represents over 10 years of experience and expertise in the optimisation of underground drilling – from exploration through to development and production drilling. Our solutions:
– Ensure consistent and accurate drilling, regardless of the driller’s skill-level or experience.
– Are proven at operations globally and supported by our dedicated technical support team, 24/7.
– Reduce Scope 4 CO2 emissions through improved accuracy in production drilling, helping mining operations towards net zero.
– Help mining operations reduce all-in costs and offset profits lost from operational delays.