Newsletter April 2024 - What do mining and motorsport have in common?
The need for speed
What do mining and motorsport have in common? (Sounds like a bad joke, I know. But bear with me, it’s a serious question.) Answer: pathways to net zero. Which is, conveniently, The Intelligent Miner’s editorial theme this month.
I won’t pretend there isn’t a personal interest here – I’m a big Formula One fan. It delights and intrigues me that there’s been a narrowing of the gap between these industries in recent years in the name of decarbonisation. The two actually have a surprising amount in common. Think about it: the name of the game is to get vehicles around a fixed track repeatedly in the most fuel and energy efficient fashion while maintaining operator safety and vehicle integrity.
Iron-ore miner, Fortescue, set the tone with its 2021 collaboration and subsequent acquisition of Williams Advanced Engineering – an offshoot of the Williams F1 team founded by the late Sir Frank Williams – for its battery-electric technology which it said will help to “decarbonise Fortescue’s mining haul fleet”. McLaren Applied’s Fuel Analytics Service has also been deployed by Indonesian mining contractor, PT Pamapersada Nusantara, to achieve a 4.5% fuel saving on trucks at its MTBU mining operation.
And it’s not just about technology… Canadian Uranium miner, NexGen, is a partner of the Aston Martin Aramco F1 team. “Our partners are more than just a decal, they are part of the team, with purposeful relationships helping to drive us forward as we shake up the order and change the game on and off the track,” said the team.
Komatsu and Williams Racing also reignited their partnership in February; Komatsu was a key partner of Williams Racing during the 1980s and 90s, and the new multi-year deal has seen become the mining equipment heavy become Williams' principal partner for the 2024 FIA F1 World Championship season and beyond.
What does all this activity mean? I’m not sure, but I’m down for it. I’m a great believer that, if there are companies in other industries that miners can work with to accelerate their own decarbonisation journies and make smarter technology choices, then they should absolutely do that.
We have no time to lose after all. February 2024 was the hottest on record globally, and the average temperature for the 12 months between March 2023 and February 2024 was the highest on record at 1.5 degrees above pre-industrial levels.
There is a literal need for speed in decarbonisation. And who better to partner with than an industry that lives and breathes that?
Carly
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Reading list
Eight articles on pathways to net zero
AUSIMM: Is the "green transition" chasing minerals processing in Australia?
An excellent article by Jenny Agnew, Business Sustainability Manager at Sedgman, on the shift to cleaner energy sources and the implications of increased mineral demand on mineral processing
World Economic Forum: The mining industry must be ambitious in its support of the net zero transition
Benedikt Sobotka discusses the challenges the mining sector faces in meeting demand for minerals in clean energy technologies, specifically underinvestment
DSS Sustainable Solutions: Embracing the green hydrogen transformation in mining
Everything you need to know about green hydrogen and the enormous potential it's expected to generate for the mining industry
The Economist: The world needs more critical minerals
One for Economist subscribers (paywall). This article explores the ins and outs of project permitting and the impacts of these processes on the energy transition
Beyond The Summit: Episode 24 Working towards net zero - a workforce transformed
Deloitte's Katherine Wannan chats to Claire Ilbahim and Amalie Smith about the types of skills, capabilities and technologies that are emerging as critical to the energy transition workforce
Australian Mining: A shift in thinking
Alexandra Eastwood speaks to Austmine's Kevin West about the new Accelerated Vehicle Acquisition and Trialling program, part of the mineinnovate platform
CommDev: Pedal to the Metal - Decarbonization Pathways for Copper and Nickel
Through the World Bank Group’s Climate Smart Mining initiative, the IFC has developed a net-zero roadmap for copper and nickel value chains covering scope 1, 2 and 3 emissions of typical mining operations. Here the authors outline the need for this and potential impacts
Eurasia Group: Risk 7 - The fight for critical minerals
In 2024, governments worldwide are expected to implement protectionist measures affecting critical mineral flows, leading to price volatility and reshaping of supply chains. Ian Bremmer and Cliff Kupchan discuss...