CSIRO has launched a new Roadmap for METS companies, with a focus on boosting Australian METS business growth.
The Roadmap identified five key growth opportunities to support the continued success of the METS sector:
- Data driven mining decisions
- Social and environmental sustainability
- Exploration under cover
- Advanced extraction
- Mining automation and robotics.
The CSIRO roadmap states key imperatives for METS company focus, and shows support for a key sector that not only underpins mining and successful mining competitiveness, but also a critical driver of Australia's economy.
CSIRO's news announcement can be found here. Download the Roadmap here.
Highlighting the METS sector's importance, Deloitte Access Economics recently released a report indicating the total economic contribution of Australia’s mining and services sector was $236.8 billion in 2015/16, or roughly 15% of GDP. Commissioned by the Minerals Council of Australia, the report, "Mining and METS: engines of economic growth and prosperity for Australians", can be found here.
CSIRO's Roadmap report states "Global mining megatrends are reshaping the METS sector, requiring Australian companies to re-evaluate their role in the industry’s future."
Megatrends discussed included:
- RETHINKING OUR RESERVES
The report talks of lower rates of discovery and the need for solutions to explore under cover, extend mine lifes and optimise recovery. It notes community expectations focusing on recycling, re-use and urban/above ground mining are changing what will be deemed economic.
- THE KNOWLEDGE ECONOMY
Skills, services and technologies are needed to keep pace with emerging economies which are developing their mining sectors. Advantages can be reaped from specialised digital technologies, greater collaboration and new business models.
- NEW SUPPLY, NEW DEMAND
The report highlights increasing urbanisation and rapid development of emerging economies as a driver for minerals supply from developing nations as well as in new geographic domains enabled from technology advancements. New consumer needs are also driving technologies with specialised high value, low volume metals and minerals.
- THE INNOVATION IMPERATIVE
Key issues such as commodity prices, rising costs, declining ore grades and decreasing productivity are known drivers of operation cost focus. Creative and innovative solutions will be needed to improve mining's productivity along with sustainable and financially positive outcomes.
- PLUGGED IN AND SWITCHED ON
- The rapid emergence of digital technologies, data analytics and automation, combined with mobility and connectivity improvements are highlighted as creating exciting opportunities for the mining industry. Improvements in productivity, safety and environmental outcomes are emerging. Innovative, disruptive change is enabled across the mining value chain and life cycle.
- THE ERA OF ACCOUNTABILITY
Accountability and environmental success for continued social licence to operate is critical. Opportunities will be taken by leading companies to strengthen community engagement and support for existing and new projects into the future.
The report states that collaboration is key, and that "Continued success for Australian METS companies is not guaranteed, as high rates of digital and technological change in the mining sector no longer create a strong barrier to entry. Observations of change and disruption from other industries, such as automotive and aerospace, are hard to ignore. As such, METS companies must prepare for increased competition from within and outside of the sector and focus on innovative and creative solutions to provide greater value and ensure continued success and future growth.".
Examples are given to help inspire METS companies. CSIRO Mineral Resources Director Jonathan Law said "Mining productivity is increasingly dependent on integrating specialist technologies such as real-time sensors, mineral analysers and complex data, and the METS sector is vital in shaping mining’s future."