Episode 10 | Mining Industry Expectations in 2022

Episode 10 | Mining Industry Expectations in 2022

In this episode, we discussed how the mining industry is expected to evolve in 2022. With many changes in how mining is perceived in the past few years, along with new technologies, the mining industry is expected to implement many changes over the next year. Our guest and hosts also discussed how to align our development, in terms of thinking, with today’s technology, to be consistent and sustainable.

We had the honor to host:

➡️ Elie Abou-Jaoude; Elie is a graduate researcher in global mine development and sustainability in the Mining and Materials Engineering Department at McGill University. He currently develops and facilitates international training programs on systems thinking and personal transformation for students and engineers in academic institutions, using his background in coaching (ACC-Certified) to foster an experiential learning environment. Elie describes his approach to mining as integral and holistic, with a focus on human empowerment and community development. He has presented his research findings in several conferences since 2015 including CIM, ISMSSE, and GEOMIN.

Episode 9 | Future of Mining

Episode 9 | Future of Mining

In this episode, we discussed the future of mining in terms of sustainability and technology. As the mining industry is incorporating new technologies, it is crucial to develop a strategic plan to be effective and to allow for culture adaptation.

We had the honor to host a dear guest, who will talk to us in depth about this subject.

➡️ Dr. Mustafa Kumral; P. Eng and Associate Professor in the Department of Mining and Materials Engineering at McGill University. He has over 20 years of experience in mining engineering research and teaching in Canada, the United Kingdom and Turkey. He obtained his PhD from the Department of Mining and Mineral Engineering at the University of Leeds in 2000. His research focuses on surface mining, mine systems optimization, reliability and maintenance analysis, and mine risk analysis. He has held many research grants individually and in collaboration with other researchers. Over the years, Dr. Kumral has published more than 100 papers in peer-reviewed journals and conference proceedings. He has also supervised over 20 master’s and PhD students. He has taught several courses focusing on mineral economics, open pit mining, and mining reliability.

Mining Industry Expectations in 2022

Mining Industry Expectations in 2022

Despite the challenges faced in 2021, a number of commodities have reached new historical values and more is expected in 2022. According to Fitch Solutions, lithium, tin and coking coal prices are expected to be on the rise amongst all the minerals. Therefore, most mining Companies can continue to expect a strong ore and metal production and a year of high earnings. On a further note, with new technologies shaping the future and the way we do things, the mining industry is in a state of “disruption”. This is mainly caused by consumption patterns and environmental, social and governance (ESG). The electric vehicle sector will also require a higher demand, causing higher investments in copper, lithium and nickel. The figure below shows the expected sector growth in 2022. 

Mining industry expectations

The technological advancement is accelerating, the mining industry is expected to widen the gap between developed and underdeveloped markets, which might cause higher competition between developed markets. With that being said, as sustainability is becoming an integral part of the mining industry worldwide, there is pressure on mining companies to decarbonise and to minimize environmental impact. This will dramatically improve mining’s image from an environmental point of view, considering that mining is responsible for 4%-7% of global CHG emissions, according to McKinsey & Co. 

Making sure that social responsibility and human factors are taught in academia is also a step towards better sustainability. Students and young engineers should be taught these concepts from the beginning in order to start implementing them right away in the workplace. Creating awareness in academic institutions will ensure that sustainability is an integral part of mining even it is not within a mining operation. Sustainability is also a holistic concept, where it involves environment, society and humans. So, with many technological advancements, the need of human ethics is also needed. Technology needs to be used in a way the benefits the greater population of a country, rather than a small group of people. 

The need of an adaptable mining software is also expected to be in high demand in the upcoming years. This originates from the fact that every mine is different. The similarities are located in the mining method in general, but there aren’t any mines that operate exactly the same way. Therefore, having a customizable mining software that is able to meet the specific need of a particular mine is crucial. Overall, this will help the mining industry advance from a technological point of view. 

 

References: 

Mining and metals key themes for 2022. Fitch Solutions: Data, Research & Analytics for Credit Risk & Strategy. (n.d.). Retrieved January 20, 2022, from https://www.fitchsolutions.com/mining/mining-and-metals-key-themes-2022-06-10-2021?fSWebArticleValidation=true&mkt_tok=NzMyLUNLSC03NjcAAAGCFHeBzslYdPnBDYQPHAH0zGMi4oDoIsggteKLSP2tvAhwkvwE-XJcntL4E0wtQDgPoy0z8BIlfLrLXTULMfSVbh_SylQNE7RTVsaajzYSL2zPeVUI4A  

Mining industry to continue flying high through 2022 – report. MINING.COM. (2021, June 2). Retrieved January 20, 2022, from https://www.mining.com/miners-to-continue-flying-high-through-2022-report/  

The Mining Industry in 2021

The Mining Industry in 2021

Given this past year’s heavy challenges, including COVID-19’s pandemic, the mining industry overcame the obstacles and developed a few trends that are now valuable to a lot of Companies. The unexpected events of 2020 forced a change to develop new strategies to approach the mining sector in different ways. Several trends have been developed by many Companies that were noticeable. In this article, we will have a look at 2 trends and how they helped mining Companies through this year. 

The first trend is Building Resilience and Volatility. With many uncertain events this year, leaders and managers from the mining sector were taught how to be flexible and how to come up with different scenarios for their organization. When doing this, they can anticipate obstacles that might hinder their productivity, which allows to build resilient organizations. This requires a strategic plan that can meet the balance between productivity and maintaining a safe work environment. When this is achieved, Companies can excel quickly while ensuring the health and safety of its workers. 

The second trend is related to more attention attributed to decarbonization. While the pandemic was a big factor, climate change remains an important aspect of the mining industry. This is a critical area as Companies work to meet the environmental obligation associated with their Environmental, Social, and Governance (ESG). 

Before effectively decarbonizing, mining Companies need to understand the impacts of climate change on their operations by setting a baseline using historical data. Following, Companies can obtain scientific information from organizations such as the Intergovernmental Panel on Climate Change (IPCC), Representative Concentration Pathways (RCPs), the International Institute for Applied Systems Analysis (IIASA), or the Shared Socioeconomic Pathways (SSPs), to then assess the forecast of their emissions reductions. Finally, when executing operations, mine sites can optimize by adjusting based on the collected data to effectively start decarbonizing. Some examples include innovating with new technologies, obtaining new methods for operation, software, safety, etc. 

Aside from the trends in 2021, the top 2 mining Companies in 2021 by market capitalization are BHP ($179B) and Rio Tinto ($132B). Both mining Companies produce a wide variety of minerals, mainly iron ore and copper. Vale, with a market capitalization of $112B, comes in third after BHP and Rio Tinto.  

Based on the data from 2021, the mining industry is moving towards electrification and using renewables for electricity, to contribute to ESG. Therefore, mining companies should be aware that this shift requires a lot more minerals for lithium batteries and other infrastructure to meet the demand of this change. Hence, it is important to create a balance between moving towards decarbonization and increasing productivity to meet the demand of this shift. 

References: 

The biggest mining companies in the World in 2021. (2021, August 05). Retrieved from https://www.mining.com/web/the-biggest-mining-companies-in-the-world-in-2021/ 

Tracking the trends 2021. (n.d.). Retrieved from https://www2.deloitte.com/us/en/insights/industry/mining-and-metals/tracking-the-trends.html 

How to Cut a Section Along a Current UCS

How to Cut a Section Along a Current UCS

How to cut a section along a current UCS?

AutoCAD gives you the option to configure a current UCS by clicking and dragging the UCS icon on an object. This is very useful when working with complicated 3D objects with many coordinates in all axes. To do this, type in the command line UCS and place the UCS icon on the desired coordinate. Then, the command will prompt you to select the axes directions for X and Y, which will be used as the main plane on which the section will be cut. Using the 1 Section command (SEC1), make sure to select the option “current UCS” under “Type”. This will essentially tell the program to cut the section along the current UCS, configured previously. For quality check, drawing a large, closed polyline around the cut section on section view. Then, return to plan view and check if the section was cut properly using the closed polyline as reference.