Mining the Future and the Future of Mining

Australia is a highly significant hub in the global minerals business. This paper will present the results of global and national studies looking at the potential 20 to 30 year future evolution of the mining and metals industry.   Globally, the World Economic Forum launched a Mining and Metals Scenarios project in January 2009 to explore the question: 'How will the environment for the global mining and metals industry look in 2030?'. As part of a structured strategic foresight process, eight workshops were held across the world over the course of a year which brought together over 200 leaders from the private sector, government, academia and non-governmental organisations. The workshops were supplemented by personal interviews and guided by an international advisory board.   Critical uncertainties for the future of the industry were identified and compare extremely well with the outcomes of a national survey of AusIMM members identifying the key issues and drivers shaping the future of their operations. Global context was one of the most significant issues identified by The AusIMM membership, which is expanded in the World Economic Forum study in terms of: geopolitics; global governance; action on climate change; and economic outlook. More specifically, this global study developed three divergent yet plausible scenarios describing potential environments for the global metals and mining industry in 2030. These scenarios are compared with ground-breaking global foresight work coordinated by the Stockholm Environment Institute in the 1990s. The scenarios will help decision makers rehearse alternative futures, anticipate potential hazards and identify business opportunities - new solutions, new markets and new connections. The presentation will present these scenarios as a way of challenging thinking, testing established wisdom, and stimulating imagination about the business case for the mine of the future. As Marcel Proust put it, 'The real voyage of discovery consists not in seeking new landscapes but in having new eyes'. This is an ABSTRACT ONLY no paper was prepared for this presentation.