This year’s Mining Indaba conference was particularly upbeat despite uncertainty around the world...
This year’s Mining Indaba was particularly upbeat. Despite uncertainty around the world, people in the industry are feeling positive – base commodities are increasing in price, suppliers are selling equipment and the miners are very happy.
I have attended the Mining Indaba for many years, representing and listening to what’s said about Chile. A fellow countryman commiserated with me, “After four years of instability in Chile, there has been a downturn in investment, the government is leaving and many of us question levels of confidence and reliability in the market”. I have seen this over so many cycles. With billion dollar investments, we need the rules of the game to be stable.
So why the upbeat mood?
Automization of vehicles, lithium and cobalt are boosting value and efficiency. It’s only two years since a lithium miner joined the top rank of listed miners – keep it up Sichuan Tianqi Lithium.
What fascinates me is tech-enabled intelligence. In Chile I saw a control panel for 30 trucks in 30 mines. Through speed checks it compared in a dynamic model the best driver at any given moment. These developments come from equipment suppliers meeting increasing demand for services. To move so many tons per hour needs tech to drive efficiency.
Chile is quite advanced here, merging hardware with software. As well as science and technology, the financial, political and gender debates are all alive and kicking. It’s about recovery in growth and this is my theme for the year, as we look to Indaba 2019.
Next up, what do we need from regulation? This blog will feature interview excerpts from prominent leaders and developments in Latin America.
To learn more about Boyden's insights on mining and the automotive industry, visit these links;
PwC The World's 40 Biggest Mining Companies