Productivity: A Patchy History
The productivity of Australia’s mining industry has generally taken a back seat to production levels and capital expenditure. During the boom in the early 2000s and beyond, mining companies could put their productivity score on the back burner while the going was good. But nothing stays the same forever.
And when the mining bubble burst, more than a few operators were left with their pants down – through a productivity lens. According to Australian Government data, mining typically accounts for around 5 per cent of Australia’s nominal market sector gross domestic product.
A ‘once-in-a-generation’ shock to demand and prices of mining commodities saw this share rise to 8.5 per cent in 2006-07, stimulating substantial growth in new investment, employment, and profits.
As miners look to turn the tide of productivity, the industry will pivot to new and innovative automation and technology to provide a much-needed boost.
Turning The Tide
The mining industry has significantly influenced Australia’s productivity performance and prosperity recently.
Are environmental regulations, health and safety concerns or potential profit loss a concern right now?
And while its influence on prosperity has been positive, the opposite is the case for productivity.
Mining’s next decade will witness some of the industry’s most exciting and transformative years on record.
But the question remains: What will successful mining and resource companies look like in a low-carbon, low-waste, purpose-driven future?
The answer to this question is multi-pronged, but improving productivity will feature high on the list of changes.
A convergence of factors has brought the need for transformation, but the most significant underlying drivers and opportunities lie in the green energy transition.
Other factors include the ongoing impact of COVID-19 on the world of work, alongside digitisation, and the developing need to integrate environmental, social, and governance (ESG) commitments with core business functions.
In all, mining has its work cut out to right the wrongs of the past two decades and make the most of mining’s clean and green future.
Help From Aussie EMS Technology
Exploration and Mining Software (EMS) has been a hugely creative and vital segment of Australia’s $90 billion mining equipment, technology and services (METS) sector.
It currently generates over $600 million a year of mining-related revenues, more than $240 million in exports, and employs more than 2500 people.
With one of the world’s most technologically advanced and operationally challenging mining industries, it’s not surprising to see proven Australian products receive orders in other parts of the world.
Some of the areas where EMS technology can improve productivity include:
- Mine planning
- Scheduling and optimisation
- Haulage optimisation
- Blast monitoring and optimisation
- SMART dust suppression systems
- Mine and plant maintenance
- Fleet management
- Fuel management and optimisation
- Mine ventilation modelling, planning and optimisation
- Tyre monitoring and management
- 3D laser imaging
- Numerical modelling/simulation
With the help of a homegrown EMS industry, Australia’s miners will aim to bring their productivity stats into the modern age.
Summary
After a shaky history on the productivity front, Australia’s resource companies will look for innovative solutions from our native Exploration and Mining Software (EMS) industry.
While silver bullet solutions are so rare, EMS down under has a proven track record of success and generates revenue globally.
GRT is a leading provider of advanced dust suppression solutions that make the most of modern technology and communications.
Our solutions are linked across mine or construction sites via the IoT and deliver critical data to the people who need it most.
To learn more about how we’re helping miners stay safe, connected and productive, visit our dust solutions page or reach out to our local team!
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References:
https://www.pc.gov.au/research/supporting/mining-productivity/mining-productivity.pdf.
https://www2.deloitte.com/au/en/pages/energy-and-resources/articles/tracking-the-trends.html
https://www.austrade.gov.au/ArticleDocuments/2814/Mining-software-and-specialised-technologies-Industry-Capability-Report.pdf.aspx.
