Modern Mining May 2023

TECHNOLOGY

If we are to achieve our goal of decarbonisation, we need more, not less, mining – to a tune of three billion tons according to the IMF. In fact, to reach Net Zero, the International Energy Agency’s Net-Zero by 2050 Roadmap shows we will need 60% of energy demand to be supplied by renewables. Benchmark Mineral Intelligence reports more than 300 new mines will need to be built over the next ten years to satisfy demand for electric vehicles and energy storage batteries. Glycine Leaching Technology The future of mining By Jackson Briggs: corporate development manager at Draslovka

Visible copper (malachite mineral) bearing rock sample.

T hese are worthwhile goals but there is an elephant in the room – where will we find the necessary new deposits of these critical met als? Over the past several years, the mining industry has suffered from severe underinvestment which has impacted its ability to source new depos its and encourage innovation. A report from Wood Mackenzie states the gap between miners’ current capex commitments and the level needed to secure a 2°C scenario is almost US$2 trillion over the next 15 years. However, even if we had the capital, would we be able to source and develop the assets? The min ing industry continues to fight a major PR war and faces many headwinds. Miners have a maligned

reputation due to mistakes and poor governance in the past, which has given way to public skepticism and anger against new projects. This is compounded by the public’s lack of education about the important role mining plays in our lives. Unfortunately, while everyone wishes to see an energy transition, few people understand the integral role mining plays to secure it. If we are unable to locate fresh supplies of metals – especially those considered critical and strategic – not only do we risk failing to achieve the energy transition we so desperately need but we will find ourselves in a situation mired in ‘miner als inflation’ whereby metal prices are prohibitively expensive thereby stymieing the intention to

MPS (or Draslovka Mining Innovation) Development laboratory, Perth. Wet testing area.

36  MODERN MINING  May 2023