Responding to Risk by Going with the Top Ranking Performers to Achieve Sustainable Mining in a Global Industry

The value of Australia's education services exports increased to over $15 billion dollars in 2009, placing education as the third overall export earner behind coal and iron ore; however there are concerns over the impact of emerging policies on the future of both the industry and the provision of mining education. Policies have impacts on the growing number of international rankings (or league tables) of mining jurisdictions and universities. A high position in such rankings might be used as a measure of perceived quality with benefit to those at the top and to the detriment to those lower down.    Top performing companies in the relatively new domain of sustainability have been shown to achieve better financial performance than their industry competitors, assisting them in attracting top quality committed staff, hence positioning themselves well for the future. The world's mining companies, jurisdictions and universities are now ranked with results in the public domain. It is argued as to the validity of the data or perceptions used in such rankings, but there is no doubt they are influential in determining the flow of dollars around the globe. By investing your pension fund assets in the shares of the top performing companies, by placing your exploration dollars in a country at the top of such a list of attractive jurisdictions, attending or recruiting from a University at the top of the rankings - risk must surely be reduced?   While savings and risk reduction can undoubtedly result from the introduction of new technologies developed through appropriate R&D (the other core activity of a university), the maintenance of a very high level of exploration and production performance through dedicated highly skilled staff every hour of every day quietly improves financial performance, while avoiding safety, environmental and/or community incidents (ie protects the 'triple bottom line'). As always risk reduction comes down to enabling quality people to do a quality job - through the actions of such people we can sustain the global mining industry and secure our social license to operate. However, there is global concern over where the numbers of such people, including those with the recently required skills in sustainability, are going to come from.   This presentation will discuss some of the complexity and interactions involved in the development of such rankings, the dangers inherent in their simple acceptance and use, plus indicate some of the directions mining educators might take to sustain and increase the supply of quality graduates to the global mining industry. This is an ABSTRACT ONLY. No paper was prepared for this presentation.