Digital transformation. Sustainability. Community enrichment. Profitability. Operational efficiencies.
These might sound like buzzwords, but they’re just a few top-of-mind subjects for mining pros on any given day.
The mining industry is undergoing seismic changes. Between growing public pressure for mines to address ESG factors to technology advancements making waves across the industry, the trends that once seemed abstract are quickly coming to life. But it’s not without its own set of challenges, like supply chain concerns and developing a strong workforce. The future of mining is here — so how can mines transform their practices to thrive as the industry evolves?
We united experts in Winnemucca, Nevada to break down the industry’s most pressing issues, so together, we can shape the future of mining.
In case you missed it, here are 3 key takeaways from the event:
It’s no surprise that the mining industry is facing increased environmental scrutiny. The pressure is on for mining operations to rise to the challenge and meet stakeholder expectations — and we’ve already seen progress across the industry.
In order to achieve long-term sustainability, mining operations need a game plan to future-proof their business models. And according to Ryan Bellows, President of Government and External Relations at NV Energy, the journey toward sustainability starts with innovation.
Mines need to rethink everything from daily operations to the products in their portfolios. Smaller-lift operational transformations like switching to renewable energy can offer benefits such as lower electricity costs and reduced volatility. On a larger scale, the passing of the Inflation Reduction Act secured a $370 billion investment in energy security and climate change programs over the next decade, providing incentives to boost energy efficiency, switch to electric vehicles, and further develop renewable energy. And aside from contributing to state-wide net zero goals, mines who take advantage of these programs also stand to benefit financially thanks to tax credits.
On a related note, BioAccelergy’s CEO Rocco Fiato shared we have to get creative in order to make impactful change. When ExxonMobil teamed up with BioAccelergy to help develop new bio-base stock for manufacturing lubricants, their goal was to help businesses across industries meet today’s increasing demands to reduce greenhouse gas emissions while maximizing fuel efficiency and equipment durability.
What we learned at Mining into the Future is that there isn’t a one-size-fits-all approach to sustainability.But when we come together, we have the power to make meaningful changes and shape the future of mining.
Between new technology and disruptions in the job market that have been accelerated by COVID-19, the workforce is changing across industries. Instead of fighting change, mining operations need to invest in reskilling and upskilling employees in the coming years to thrive in a new environment.
From robotics to connected devices to data analytics, technology is changing the way mines operate — and can ultimately boost productivity, reduce energy use and increase employee safety. But technology is only as useful as the humans who operate it.
Research shows that 73% of mining companies have identified skills gaps in the local labor market as the biggest barrier to adopting new technology, indicating an overarching need to invest in developing the workforce. By investing in workforce development, mines can position themselves to thrive today and in the future as technology continues to evolve.
Whether it’s tips to launch your sustainability journey or strategies to cut costs and reduce risk, mining pros have a wealth of knowledge to share. As former Top Gun Vincent “Bluto” Saporito shared during our networking reception, strong leadership and collaboration can empower organizations to transform internal and external perspectives.
When people from all disciplines in the mining industry come together, our unique perspectives become more powerful. Networking isn’t just about connecting with like-minding peers – its impact can be instrumental in helping mines share ideas and prepare for the future as we reimagine the industry.
Learn more about Mining into the Future by downloading the presentations here:
CEO & Managing Director, BioAccelergy
Building a more sustainable industry doesn’t happen overnight. Find out the lessons Rocco learned along the way as BioAccelergy and ExxonMobil teamed up to produce bio-base stocks to reduce greenhouse gas emissions.
Jory Maccan and Jasjit Mann
Reliability Managers, Imperial Oil
Imperial Oil’s experts bring their mining experience to discuss how to solve for “Run to Failure” maintenance practices to increase efficiency and profitability.