英文【TeamSweden】2024重塑矿业的未来矿业创新全球概览报告

EXECUTIVEGLOBALINSIGHTAPRIL2024

REINVENTINGTHEFUTUREOFMINING

Aglobaloverviewandmappingoftheinnovationlandscapeinmining

EXECUTIVESUMMARY

OPPORTUNITYAWAITSINMAJORMININGMARKETS

MOMENTUOUSCHANGEGETSUNDERWAY

Theglobalminingsector'soptimismisatanall-timehigh,withgrowingrecognitionofitsimportanceandsocietalimpact.Despitechallenges,themarketcontinuestogrowsteadily.

Thefocusisshiftingtowardscriticalrawmaterialsduetotheincreasingdemandforenergytransitiontechnologies,settotripleby2030.WhileAsialeadsinproduction,

LatinAmericaandAsiahavethelargestreserves.Thisdemandwillelevateregionswithsignificantreservestoproductionleadership.

Geopoliticssignificantlyinfluencetheindustry,withover75%ofmineralsproducedincountriesdeemedunstablein2021accordingtoWorldMiningData.Thishigh-

lightstheneedforstablecountrieswithsignificantreserves,fosteringresourcenational-ismandstrategicalliances.Majormarketsareprioritisingcriticalrawmaterialsthroughstrategies,policies,andpartnershipswithsustainabilityatthetopoftheagenda.

Globalmininggiantsareinvestinginautomation,digitalisation,andelectrifica-

tiontomeetgreenhousegas(GHG)reductiongoalsandenhanceefficiency,safety,andsustainability.Mineoperators,underpressurefromthegreentransition,seekinnova-tivetechnologyyettobedeveloped,emphasisingtheneedtoharnessexistingtechnolo-giesfromothersectorsandclosercollaborationwithoriginalequipmentmanufacturers(OEMs)andtechnologyproviders.

“Theminingindustrycanbecomepartofthesolution.Insteadof

beingperceivedaspartoftheproblem,moremetals,moreelectricvehicles,andmore

windturbineswillbeneeded.”

AreaManager,Ironoreoperations,Kiruna,LKAB,Swedishstate-ownedminingcompany

BUSINESSSWEDEN|REINVENTINGTHEFUTUREOFMINING|2

KEYMININGMARKETSFORSWEDEN

Sweden’sminingsectorisamongthemostinnovativeandsustainability-focusedintheworld,andcompaniesarelikelytothriveinthefollowingforeignmarketswherethereisstrongminingactivity,arobustinnovationlandscapeandclearprioritisationoftheshifttosustainablepractices.

Canadaleadsinglobalinnovationandsustainability,producingover60

mineralsandmetals.Withafocusonincreasingcriticalmaterialproduction,Canada'srelianceoninnovationcreatesopportunitiesforSwedishsolutions.

TheUnitedStates(US),asignificantgoldandcopperproducer,with

plansfor40criticalmaterialsoperationstosecurethedomesticcriticalrawmaterialssupplychain.Duetotheoutsourcingofresearchanddevelopment(R&D),theSwedishindustrycanleveragepartnershipswithUSplayersforjointR&Deffortsanddemonstrationprojects.

Chileisthetopcopperproducerandalsohasthelargestlithiumreservesglobally,aimstobecomeamajorcriticalrawmaterialsproducer.Withsustainabilitygoalssetbytheminingsector,ChilepresentsopportunitiesforSwedishcompaniesaskeypartnersinthepursuitofdecarbonisation.

Brazil,anemergingmarketforcriticalrawmaterials,ranksthird

globallyinrare-earthelementsreservesandisamajorironoreproducer.ThegrowthofundergroundmininginBrazilpresentsopportunities

forSwedishminingsuppliers.

SouthAfrica,amajorgoldandplatinumgroupmetalsproducer,faces

challengesfromagingminesandincreasedminingdepths.Withafocusonenvironment,socialandgovernance(ESG)andsustainability,SouthAfricaseekscollaborationwithSwedenforinnovativedigitalplatforms.

Australia,aleaderinminingautomationandinnovation,ispoisedtoexpanditsroleincriticalrawmaterialsproductionastheworld'stoplithiumproducer,offeringopportunitiesforSwedishOEMstocontributetoitsevolvingminingindustry.

KEYTERMSANDDEFINITIONS

Inthecontextofthisreport,thefollowing

terminologyandkeytermsaredefinedas

outlinedunlessotherwisespecifiedinthetext

MINERALGROUPS

Criticalrawmaterials

Referstothosematerialsdeemedcriticalbasedoneconomic,strategic,andresourcesupply/demandfactors.Regionsand

countrieshavedevelopeduniquecriticalmaterial

lists,thoughglobally

thistypicallyincludes

materialsvitaltotheenergytransition,suchas:lithium,cobalt,nickel,manganese,copper,rareearthelements(REE),andgraphite.

Non-fuelminerals

Includesmetals(e.g.,gold,silver,copper,tin,lead,

zinc,iron,nickel,chromium,aluminium),metalalloys,

andnon-metals(e.g.,sand,gravel,gypsum,halite,

uranium,dimensionstone).

Fuelminerals

Includescoal,uranium,oil/petroleum,andnaturalgas.

Ironandferro-alloymetals

IncludesIronOre,Cobalt,Manganese,Molybdenum,andNickel.

Non-ferrousmetals

IncludesBauxite,Copper,Lithium,REE,andZinc.

Preciousmetals

IncludesGold,Platinum,Palladium,andSilver.

Industrialminerals

IncludesDiamonds(gems/industrial),Graphiteand

Potash.

KEYTAKEAWAYS

nTheglobalminingmarketshowsnosignsofdeclining,forecastedtoreachUSD2,775billionin2027drivenbyvastlong-termdemand.

nSustainabilityistopofmindamidstrisingimpactsofclimatechange

andresourcescarcity–miningcompaniesareunderpressuretominequicklyyetsustainably.

nAlleyes–andinvestments–are

focusedoncriticalrawmaterialsastheenergytransitiongeneratesexponentialdemandfortheminer-alsintegraltokeytechnologies.

nGloballabourshortagesand

demandforincreasedmining

productivitydriverisinginnovationandadoptionofmineautomationandelectrificationsolutions.

nRecentsupplychainchallenges,

geopoliticaltensionsandpower

rivalrieshavehighlightedtherisksofthecurrentdistributionofglobalmineralproduction,leadingtoariseinresourcenationalism,butalsotofriendshoringwithnewpartnershipsandalliances.

nThepotentialisrisingforSwedishsolutionsinsixkeymarketstomeetdemandforefficiency,sustainability,technologyinnovationandsourcingofcriticalrawmaterials.

nInvestmentsinminingprojectshaverecentlyseenanupswingglobally

andOEMsareemergingasminingowners.AutomotiveOEMsare

increasinglyenteringlong-termsupplyagreementsorpartiallyacquiring

minestosecuresupplychainneeds.

nAustraliaandCanadastandoutforopportunitiesininnovationand

sustainability,AustraliaandChileforcriticalrawmaterials,while

Brazil,theUSandSouthAfrica

offerstronggrowthpotentialinhighreservevolumes.

ExecutiveGlobalInsightispublishedbyBusinessSwedentogiveSwedish

businessleadersaregulardeep-dive

intothemostimportanttrendsin

cross-bordertrade.Thereportserieshelpsdecision-makersbreakdownrisksand

opportunitiesandprovidesactionableinsights,drawnfromtheknowledgeandexpertiseofBusinessSweden’sglobal

advisorsbasedinmorethan40markets.

Subscribenowandgetournextanalysisinyourinbox.

INTRODUCTION

SWEDENISSETTODRIVE

GLOBALGREENINITIATIVES

EUROPE’SLEADINGMININGNATION

MininginSwedenhaslongtraditions,andtheindustryholdsapivotalpositioninthecountry’seconomy.Withahistoryspanningovera

thousandyears,mininghasbeenacornerstoneofSweden’sprosperitycontributingtoeconomicgrowth,awell-developedroadnetworkand

extensiveminingexpertise.

SwedenisoneofEurope’sleadingmining

nationsandthecontinent’sprimaryoreandmetalproducer.Itishometo12highlyproductivemetalminesaccountingfor93%oftheironoreproduc-tionintheEuropeanUnion(EU).Additionally,

Swedenproduces9%ofthecopperand24–39%ofthecontinents’zinc,lead,silver,andgold.

TheSwedishminingecosystemischaracter-isedbyitsuniquecollaborationbetweengov-

ernment,academia,andindustrytoco-developcutting-edgetechnologiesessentialforminingatgreatdepthswhileensuringthefuturesustain-abilityofminingoperations.Swedenisamongthemarketsattheforefrontofsustainablemin-

ingpractices,minimisingenvironmentalimpactalongthevaluechain,anddrivingthedevelop-mentofminingtechnology.MineoperatorsinSwedenserveastestbedsorpartnersinthisongo-ingdevelopment.ThecountryishometogloballeadersinminingequipmentsuchasSandvik,

Epiroc,andABB,renownedastheworld’slarg-estproviders.Additionally,itofferscutting-edgesolutionsfortheglobalminingindustrythroughmanysmall-medium-enterprises(SMEs)like

RockSigma,GreenIronH2AB,andFlasheye.

Thegrowingimportanceandglobaldemandformineralsandmetals,drivenbythegreentran-sitionandtheglobalstrategiestoachieveself-suf-ficiency,furtherhighlightthepivotalroleof

mining.SwedenandtheSwedishGovernment

continuestoprioritisethissector,byrecognis-

ingitssignificanceincontributingtoacleaner,

greener,andmoresustainablefutureglobally.Toachievethis,Swedenneedstoexpeditepermit-

tingprocesses.Thecountry’sleadingposition-

inginsustainableminingandtherecentdiscoveryofthelargestknowndepositofrareearthmetalsinEuropemaynotonlystrengthentheindustrialvaluechainsinEuropebutalsoholdsthepoten-tialtosupplyresponsiblyminedrawmaterials

andencouragesustainableminingpracticesglob-ally.Consequently,astheadoptionofcleantech-nologiescontinuestogrow,miningisexpectedtothrivegloballytomeettheseevolvingneeds.

INTERNATIONALISATIONREMAINSAPRIORITYFORSWEDEN

TheStrategicInnovationProgramSwedishMin-ingInnovation(SMI)ispartofajointinvestmentinstrategicinnovationareas(SIP)bytheSwedishAgencyforInnovationSystems(Vinnova),the

SwedishResearchCouncilforEnvironment,

AgriculturalSciencesandSpatialPlanning(For-mas)andtheSwedishEnergyAgency.TheaimofSMIistostrengthenthecompetitivenessoftheSwedishminingandmetalextractionindustry.

SMIisamemberoftheTeamSwedenMininggroupledbyBusinessSweden,alongwithelevenothermembers.*TeamSwedenMiningiscoordi-natinginternationalminingactivitiesandeffortstopromoteSwedenasaleadingminingnationandtofacilitatetheinternationalisationofSwed-ishcompaniesandorganisations.

IncollaborationwithSMI,BusinessSweden

hasconductedastudytobuildanunderstandingoftheglobalminingmarket,itschallenges,andopportunitiesincludinganin-depthanalysisofkeyminingmarketssuchasCanada,theUS,Bra-zil,Chile,SouthAfrica,andAustralia.

Thisreportreflectstheindustry'scommit-

menttosustainabilityandinnovationinresponsetoevolvingdemandsforresponsiblysourcedrawmaterials.Theaimistooutlinetrends,challenges,keyimplicationsandopportunitiesforSweden

andSwedishcompaniesaswellasprovideinputforTeamSwedentosupportinprioritisingfuturemininginternationalisationefforts.

*MembersofTeamSwedenMining:GeologicalSurveyofSweden(SGU),theSwedishAssociationofMines,MineralandMetalProducers(Svemin),GovernmentOfficesof

Sweden,theSwedishExportCreditAgency(EKN),

Sweden’sDevelopmentFinanceInstitution(Swedfund),Vinnova,InternationalCouncilofSwedishIndustry(NIR),EnvironmentalProtectionAgency,LuleåUniversityof

Technology(LTU),SwedishExportCreditCorporation(SEK),andtheSwedishInternationalDevelopment

CooperationAgency(Sida).

BUSINESSSWEDEN|REINVENTINGTHEFUTUREOFMINING|4

GLOBALMARKETOVERVIEW

PAVINGTHEWAY

FORAGREENERFUTURE

APOSITIVETRAJECTORYIN

THEGLOBALMININGMARKET

TheglobalminingmarketiscontinuouslygrowingandreachedavalueofUSD2,145billionin2023.DespitetheCOVID-19pandemicandgeopoliticalturbulence,theglobalminingmarketshowsno

signsofdecline.Onthecontrary,theglobalminingmarketisexpectedtogrowataCAGRof6.7%,

reachingUSD2,775billionin2027,primarilyduetothevastlong-termdemand.1

Totalglobalminingproductionamountedtoapprox18billiontonnesin2021,ofwhich3billiontonneswerenon-fuelminerals2.At60%,Asia

holdsthelargestshareoftotalglobalproductionofallmineralsandmetalsin2021,followedbyNorthAmericaat15%.ChinaandtheUSarekeymarketsintermsofoverallminingoutput.Overthelastfewdecades(2000–2021),production

rateshaveincreasedacrossallregions,apartfromEurope3(-31%)andisexpectedtocontinuetorisetomeettheexponentialdemandsofmodern–andfuture–society.

Globaloutputremainsdominatedbyfuelmin-eralswithcoalasthelargestrevenuecontributor.In2021,Asia,Oceania,andSouthAmericadomi-natedglobalproductionofnon-fuelmineralswithamarketshareof37%,24%and13%respectively.4Australia,China,andBrazilarekeynon-fuelout-putmarkets,whileChinadominatesoutputpri-marilyconsistingoffuelminerals.

China(17%),US(13%)andRussia(10%)leadinglobalshareofproductionvalue(USD).5Whilefuelmineralscontinuetodominateproduction

valueglobally,SouthAfricaandAustraliaare

exceptions,withtheirproductionvaluestemmingprimarilyfromironandferro-alloymetals.

PRODUCTIONOFALLMINERALSANDMETALS(NONFUELANDFUEL)

Europe*

3.0

tlres

18.3

tlres

7%11%

Asia

NorthAmerica

8%

-31%

15%

+18%37%

60%

Africa

SouthAmerica

13%

5%7%

+114%Oceania

+22%

24%

6%

+8%

7%

+137%

Currentshareofglobalproductionintonnes,2021andgrowthinproductionratesinceyear2000

Allmineralsandmetals(non-fuelandfuel)

Non-fuelmineralsandmetals

*NotethatEuropeincludesRussia

Source:WorldMiningData2023,PWCReport2023

1BusinessResearchCompany

2WorldMiningData2023

3EuropestatisticsincludeRussia

4Ibid

5Ibid

BUSINESSSWEDEN|REINVENTINGTHEFUTUREOFMINING|5

SHAREOFPRODUCTIONANDRESERVEVOLUMES

FORALLSELECTEDMINERALGROUPSBytotalsharein%,byworldregion

Asia

Africa Europe LatAm OceaniaNorthAmerica

33%24%

22%20%

12%18%

11%18%

11%13%

11%8%

ProductionReserves

Source:Statista2022,Euromonitor

Globalcoalproductionisexpectedremainstag-nantata0.7%CAGRto2030,asdemanddecreasesinresponsetoexpandingrenewableenergycapac-ities.6Aswesternnationsscalecleanenergyinfra-structure,Asia’sshareofcoaldemandisgrow-

ing,nowoutpacingtheUSandtheEUforthe

firsttime.AsignificantdriverofAsia’sgrowthisexpectedtocomefromIndia,whosecoalproduc-tionisforecastedtogrowat4.9%CAGRby2030.7

PRODUCTIONVS.RESERVES

Productionofkeymetalandnon-metalmineralsisgeographicallydispersed,withAsia8and

Africaaccountingforthelargestsharesofleadingselectedmineralgroups:ironandferro-alloy

metals,non-ferrousmetals,preciousmetals,

industrialminerals,andmineralfuels.Africa

leadsinoutputofironandferro-alloymetalsandpreciousmetals,withsignificantoutputfrom

DemocraticRepublicofCongo(DRCongo)in

cobalt,andSouthAfricainmanganese,platinum,andpalladium.Asiadominatesproductionof

non-ferrousmetals,industrialminerals,and

mineralfuels,primarilyattributedtoChina’s

outputinrareearthminerals,zinc,graphite,andcoal,alongwiththeMiddleEasterncountries’shareofoiloutput.

Whilemineralreservesarevastacrossthe

globe,thecompletevolumesofspecificreservesremainunknown.Amongstknownmineral

reserves,AsiaandAfricaremainleadingregionsoverall,andforpreciousmetalandmineralfuelreserves.However,fromthislens,Oceania,

LatinAmerica9,andEuropeemergeasmore

prominentregions,withAustraliatopping

volumesofkeyironandferro-alloymetals,ChileandPeruwithnon-ferrousmetals,andRussia

withindustrialfuels.

Theshiftofleadingmarketsbetweenpro-

ductionandreserves,particularlyforcriticalrawmaterials,drawsamapofthelikelyfuturedynam-icsoftheindustryascountrieswithhighreservesaretappedtomitigatesupplyrisks.

CRITICALRAWMATERIALSINHIGHDEMAND

Alleyesareoncriticalrawmaterialsintheglobalminingindustry.Growingdemandforenergy

transitiontechnologiesisexpectedtocreate

mirroreddemandforthematerialscriticaltotheirdevelopment.Materialsidentifiedascriticalvarybycountry,dependingoneconomic,strategic,

andresourcesupplyrelatedfactors–cobalt,

nickel,manganese,copper,lithium,graphite,andrareearthelements(REE)areamongthosemostconsistentlyprioritisedglobally.

Demandforcriticalrawmaterialsisforecastedtomorethantripleby2030toreachnet-zero

emissiongoalsandgrowsubstantiallyoverthe

nextthreedecades,estimatedtoreachUSD400billionby2050.10Asitstands,currentproductionlevelsofcriticalrawmaterialswillnotbesufficienttosatisfyexponentialdemandofanet-zerosoci-etyby2050–withanincreaseinproductionofbetween93%(copper)to910%(lithium)requiredtoachieveobjectives.11Astechnologicalinnova-tioncontinues,thematerialsdeemedcriticalmayshiftinresponsetonewdevelopments,leadingtofurtheruncertaintyaroundthedemandforpro-ductionlevels.Forexample,overproductionof

certainmaterialsisalsoapossibleoutcome.

“Forthefirst

time,weare

openlydiscussinghowtoexclude

certainmarkets.”

Svemin,TheSwedishAssociationofMines,MineralandMetal

producers

DEMANDFORCRITICALMATERIALS2022AND2030Bycriticalmaterial,milliontonnes

31

CopperNickel

Graphite

Lithium

ManganeseCobalt

Other

237.3%

9

20222030

Source:InternationalEnergyAgency

6GlobalData;InternationalEnergyAgency

7Ibid

8AsiaincludesEastAsia,theMiddleEastandTürkiye

9LatinAmericaincludesMexico(excludedfromNA)

10InternationalEnergyAgency2023,Statista2022

11Ibid

BUSINESSSWEDEN|REINVENTINGTHEFUTUREOFMINING|6

SHAREOFPRODUCTIONANDRESERVEVOLUMES

FORALLSELECTEDCRITICALMATERIALSBytotalsharein%,byworldregion

Asia

Africa

LatAm OceaniaNorthAmericaEurope

40%28%

24%

18%

14%

14%

29%

17%

1%

4%

3%7%

ProductionReserves

Source:Statista2022,Euromonitor

Currently,Asiaproducesthelargestshareofcriticalrawmaterialsglobally,whileLatinAmer-icanarrowlyleadsalongsideAsiabyshareof

knownreserves.Chile,Indonesia,andDRCongoemergeastopmarketstoconsiderincriticalrawmaterialsproductionalongsideconsistentleadersAustralia,China,andSouthAfrica.

Recentchallengeswithglobalsupplychains,exacerbatedbytheCOVID-19pandemicandfur-thercomplicatedbytheRussia-Ukrainewar,havehighlightedtherisksofthecurrentdistributionofmineralproductionandencouragednationstoactswiftlytoensuresufficientsupply.

GEOPOLITICALLANDSCAPE

Giventheconcentrationofresources,commoditypricesandregulatoryprocesses,accesstomaterialsisfacilitated–orblocked–bythestateofinter-nationalrelations.Politicaltensionsandmajor

powerrivalriesimpactmarkets’abilitytoensuresupplyofcriticalrawmaterials.

In2021,over75%ofglobalmaterialswerepro-ducedincountriesdeemedunstableorextremelyunstable.12Criticalrawmaterialsareatriskwithmostcobalt,manganese,nickel,andREEsupplyoriginatingfrompoliticallyunstablecountriesaswellasatleasthalfofcopperandgraphitesupply.Thiswillbringintofocusthemorestablecoun-trieswithsignificantreservesofcriticalrawmate-rialsandencourageminingnationstomakenewfriends–fast.

FRIENDSHORINGANDRESOURCEHOTSPOTS

Akeypriorityofglobalminingmarketsistoensuredomesticsecurityofsupplytomeetanticipated

demand–leadingtoariseinresourcenationalismandfriendshoring.Inresponsetothegeopoliticallandscape,leadingmarketsareincreasingly

implementingstrategies,policiesandpartnershipsfocusedoncriticalrawmaterials.AttheforefrontofthispusharetheEU,Canada,theUS,andAus-

tralia,eachofwhichhavelaunchednationalcritical

rawmaterialsstrategiesandincentives(e.g.,EU

CriticalRawMaterialsAct,USInflationReductionAct,Canada’sCriticalMineralsTaxCredit)and

agreementswithotherkeyminingcountriesto

strengthensupplychains.ThisincludestherecentlylaunchedMineralsSecurityPartnership(MSP)

leadbytheUS,andSustainableCriticalMineralsAlliance,whichspanmultipleregions,aswellas

bilateralagreementsbetweenspecificnations,suchastheUS–JapanAgreementonStrengthening

CriticalMineralsSupplyChainandtheAustralia–IndiaCriticalMineralsInvestmentPartnership.

ForEuropespecifically,theCriticalRawMate-rialsActaimstoreviewhowEuropesuppliesrawmaterialsandhowtostrengthenEurope’sposi-

tionwithastrongemphasisonefficientpermit-tingprocesses.

Manycountriesaredependentonaselectfewcountriesformanymaterials–Europesources

over70%ofninecriticalrawmaterialsfromfivesupplyingcountries,whileforexample,theUSis100%dependantonimportsfor12oftheiriden-tifiedcriticalrawmaterials,and50%reliantfor

another31.13MostmajoreconomiesaredependentonasignificantshareofcriticalmaterialimportsfromChina,DRCongo,andChile.

GLOBALPRODUCTIONBYPOLITICALSTABILITYOFCOUNTRIES

Byproductionvolume(thousandtonnes)

StableFair

Unstable

Extremelyunstable

0%

3%

23%

74%

Source:WorldMiningData2023

“TheCritical

RawMaterialsActsignalsthattheEUisopenforbusiness.”

TheGeologicalSurveyofSweden

12WorldMiningData2023

13EuropeanCounciloftheEU2023,USNationalMiningAssociationBUSINESSSWEDEN|REINVENTINGTHEFUTUREOFMINING|7

Countriesgloballyarestrategicallyposition-ingthemselvesforsuccesswithinthecriticalrawmaterialssupplychain.Whilesomecountries

focusonbuildingalliances(primarilyconsumernations)manysupplycountriesareendeavour-ingtofacilitategrowthofdomesticcapabilities–Indonesiahasbannedtheexportofrawnickel,andNamibiaofrawlithium.

RAMPINGUPINVESTMENTS

Investmentsinminingprojectsaregrowingglob-allywitha52%increasesince2020.14Explorationactivitiesandspendingfornon-ferrousmineralshasincreased(USD2.6billionin2023)with

Canada(21%)andAustralia(18%)accountingforthelargestshareofglobalinvestments,drivenbysignificantgrowthinlithiumexploration,copperandnickel.15ExplorationspendingisalsorisinginBrazilandAfricaledbyagrowingfocuson

criticalrawmaterials,whileithasdecreasedinRussiaandChinaduetointernationalsanctionsandpandemicrestrictions.

WhilevolumeofminingM&Adealsglob-

allyhasdeclined,thevalueofdealshasrisen–

andfocushasshiftedtowardsearly-stageprojects.Consolidationoftheminingindustryisforecastedtocontinueascompaniesrepositioncommodityportfoliostoaddressevolvingdemandsforcriti-calrawmaterialsandreplenishreserves–thoughthecomplexregulatory,geopoliticallandscape

andgeneralpriceinflationislikelytoslowdowndeal-making.

AutomotiveOEMsareincreasinglyentering

long-termsupplyagreementsorpartiallyacquir-ingminestosecuresupplychainneeds.In2022,theValeandGeneralMotorsLong-TermNickel

SupplyAgreementwassignedinCanada.This

trendcreatesariskthatlessrawmaterialwillbeavailableontheopenmarketassignificantquanti-tiesofmineoutputarelikelytobepre-allocatedtotheseOEMs.

MINING4.0ONTHEHORIZON

Whileadoptionofinnovativetechnologiesmaybelessrapidintheminingindustrythanothers,inte-grationofadvancedsolutionsisrisingsignallingthatminingisdiversifying.Drivenbyemission

reductiontargets,efficiencyoptimisationand

safety,globalmininggiantsareinvestinginmineautomation,digitalisation,andelectrificationtomaintainfocusonsecurity,sustainability,and

productivity.

Significantinvestmentsarealsobeing

directedtowardssustainableminingtechnolo-gies,primarilyledbyOEMs.Tokeeppacewithemergingtechnologies,it’scrucialthatpoliciesevolvealongsideadvancestoavoidrelianceonoutdatedtechnologies.

Australiaisattheforefrontofautomationintheminingsectorduetoitsfocusonproduc-

tivitydrivenbythehighcostofminingoper-ations.Canadahasmadesustainabilityapri-

maryfocus,andissecondgloballyinautomated

vehicledeploymentandthegloballeaderin

mineelectrificationwith40%shareofelectrifiedtruckfleets.16

Otherinnovationtrendsincludeemployingsmartsensingtechinexplorationstudies(e.g.

BHP),developmentofgreenexplosivesaimedatreducingemissions,andbeneficiationandval-orisationoflower-graderawmaterials(e.g.Shou-gangMiningCompany).Increasedinnova-

tioninvolvessubstantialchallengesinensuringrecruitment,retention,andtrainingofquali-

fiedskilledlabour.Mineoperators,pressuredbythegreentransition,requireinnovativetechnol-ogythathasyettobedeveloped.Greatercollab-orationwithequipmentmanufacturersandtech-nologydevelopersisrequiredtobridgethisgap,aswellastoharnessexistingtechnologiesoutsideofmining.

Smallermineoperatorstendtobemorefor-

ward-leaningwhenitcomestoproactivelyengag-ingininnovationprojects.Conversely,largemineoperatorsoftenprioritisetheircorebusinessandfocusonproductionandprofitability,whilerun-ningmoreslow-phaseddevelopmentprogrammesontheside.CanadaandAustraliaareexceptionstotherule.Inthesemarkets,largemininghousesboastsubstantialinnovationdepartments.

ALLEYESONSUSTAINABILITY

Theminingindustryfindsitselfinthechallengingpositionofbeingbothafacilitatorandabarrier

inthegreentransition.Criticalrawmaterialsareimperativetoachievegreentransitiongoals–butcurrentcriticalmaterialminingtechniquesare

oftenunsustainable.Akeychallengefortheglobalminingindustrywillbevaluechaintransparencyandtheabilitytoincreaseproductionwithout

compromisingsustainability.

Thetoneandc