ABB has released its a global report ‘Mining’s Moment’, highlighting the progress being made by the mining industry to make operations more sustainable.
Surveying 412 mining leaders and experts across 18 countries, the report finds that 70 per cent of mining leaders are confident significant decarbonisation can be achieved with existing technologies.
There is notable confidence among business leaders that they will achieve their sustainability targets because the technology to decarbonise exists: 15 per cent are ‘very’ confident they will hit their 2030 sustainability targets, while 52 per cent are ‘quite’ confident. This rises to 48 per cent when considering 2050 sustainability targets.
A total of 77 per cent of mining leaders surveyed see integrated electrification, automation and implementation of digital technologies as the key areas of technology through which sustainability goals can be achieved.
Ambitious plans are in place to invest in technologies which will make operations more sustainable: 53 per cent are anticipating significant transformation or complete overhaul; 28 per cent are investing in moderate evolution; 19 per cent are investing in incremental change.
This means 81 per cent are looking to evolve or transform their operations to become more sustainable.
This report is the latest instalment of ABB’s Real Progress campaign, which aims to showcase the power of technology and expertise to accelerate sustainability while enhancing productivity.
Mining in particular faces a challenging environment, where it must increase production to provide the raw materials for the green energy transition while limiting and, where possible reducing, its environmental impact.
The report reveals an industry rising to that challenge: 73 per cent said they were excited about the opportunities presented by the increasing recognition of mining’s role in supplying resources for green technologies.
“There is real excitement amongst business leaders about the role they are playing in supporting the green energy transition, and they are taking the issue of mining’s impact on our environment seriously,” ABB Process Industries global business line manager Max Luedtke said.
“We see this in the successful roll-out and progress towards sustainability targets, the willingness to invest to reach these goals, and the availability of technology that can make real progress, now. However, we must not think it is job done. A significant minority are struggling to meet their goals.
“Our report outlines three key areas where investment can help mining businesses become more sustainable, step-by-step: investing in their people, investing in technology, and investing in their processes.”
The report finds that by investing in people, technology and processes, mining businesses can continue to make good progress towards their sustainability goals:
- 44 per cent surveyed said that limited expertise and skills are a significant barrier to decarbonising
- 71 per cent of respondents said the talent shortage is preventing them from delivering against their production targets and strategic objectives. 70 per cent of respondents said their business is committed to re-skilling and training existing employees to support decarbonisation efforts
- 46 per cent of respondents say the risk to disruption of operations and production is a barrier to their sustainable transformation, highlighting the need for a new approach to systems and processes. This is backed up by the report respondents, with 73 per cent believing mining transformation requires a new approach to technology and risk management.
Read the full report on the ABB website.
