RTS: Harris warns Aussie mining supremacy is under | Australian Markets
Sandfire Resources chief government Brendan Harris mentioned elements of Africa and Europe are nipping on the heels of Australia because the world’s premier mining jurisdiction.
Meanwhile, Federal Resources Minister Madeleine King hammered one other nail within the nuclear vitality coffin and dismissed recommendations artificial intelligence might devastate jobs within the assets industry.
Mr Harris, talking at a Resources Technology Showcase panel, mentioned Sandfire had averted a lot of the associated fee inflation and regulatory approval logjams plaguing Australian mining operations lately.
West Perth-based Sandfire, which owned the high-grade DeGrussa mine in WA till it was exhausted in 2023, has discovered renewed success with mines in Spain and Botswana.
“We haven’t had anywhere near the level of inflationary pressure in our industry in those two locations (Spain and Botswana) over the last two to three years (compared to Australia),” Mr Harris mentioned.
“In fact, our costs remain relatively steady. Our approvals are generally more easily obtained with the same rigor, I might add.
“But the last one, the thing I feel people need to be really aware of, is in Spain we buy 100 per cent of our power off the grid, 100 per cent carbon emissions-free.
“We haven’t had to develop any of that capacity. So when we think about this as a race, somewhat, I think we just need to be careful to assume that we (Australia) are at the front of the pack.”
With the panel’s dialogue revolving round artificial intelligence and its heavy vitality necessities within the context of a decarbonising world, a fired-up Minister King emphatically ruled out nuclear vitality turning into half of Australia’s vitality combine.
The Coalition made nuclear vitality a key tenet of its vitality coverage main up to the May Federal election.
“It didn’t get them (the Coalition) very far . . . the election was not that long ago, and we talked about it a lot. So at the moment, that’s not up for re-consideration.”
Minister King mentioned it was “reasonable” people within the mining industry had been fearful of being changed by AI however she believes the technology would allow a new tranche of “better, safer jobs” within the industry.
Caterpillar vice president of technology and world gross sales Corey Wurtzbacher and Hancock Iron Ore government common supervisor of technology Kate Flanagan had been in settlement that AI offered more alternatives than threats.
“(AI is) definitely not a threat, it creates more opportunities, a higher level of performance. I’m not a technologist, but I look after a technology team — there’s plenty of room in technology for everyone,” Ms Flanagan mentioned.
She mentioned a ‘Skynet’ state of affairs reminiscent of the Nineteen Eighties blockbuster movie Terminator, the place AI machines overpower their human creators and take control of the globe, was an “unlikely scenario.”
Mr Wurtzbacher mentioned Caterpillar was investing huge in AI and technology more broadly to reinforce its choices to mining purchasers throughout the globe.
“Caterpillar really wants to be positioned with WesTrac as to how do we really provide value to the customer, and lean in heavily with research and development to support that initiative”.
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