Industry Focus

NEWS Did you know ... ? Rise of the machines At a time when cost savings are crucial to success, automation and technology have taken a significant role in making minerals more competitive. Austmine Advisor, Strategy and Policy, Christine Gibbs Stewart says that, as a consequence, human resources will be retrained and redeployed in coming years. Take driverless trucks, for example: workers will be needed to oversee the technology rather than drive the truck. "I think we'll see the development of new skills—not only [in] mining companies but also companies developing technology to be deployed in mining. "A whole new generation of miners will not go to work in the mines in the traditional sense as we know it. Jobs will be more technology focused and skills will develop in a different way," she says. 386,000 The number of people employed in the mining equipment, technology and services (METS) sector. Source: www.austmine.com.au, September 2013 Did you know ... ? From 2013 to 2018, projected growth in commodity volumes will support increases in Australia's mineral and energy commodity export earnings. Export volumes of metallurgical coal, iron ore and thermal coal are projected to rise at average annual rates of 7%, 10% and 11% respectively. Source: www.bree.gov.au, July 2012 Energy projects peaked The value of committed investment in resources and energy projects peaked in 2012 at about $268 billion after a period of unprecedented investment in the sector, according to Bureau of Resources and Energy Economics (BREE) figures. This year, the turning point is due to the number of high-value projects being completed, says BREE Executive Director Bruce Wilson. "While this reduces the stock of investment, it also signals the start of the production phase of these projects, which will support growth in Australia's exports for years to come," he says. Meanwhile, there is still significant opportunity for investment in the sector with plenty of prospective projects being developed. However, Wilson says they tend to be lower in value than the very large LNG projects Australia has seen over the past five years. Combined with the scheduled draw down in investment as LNG projects are completed, BREE is forecasting committed project investment to decline to less than $150 billion from 2016. Did you know ... ? LNG export earnings are projected to increase from $12 billion in 2011–12 to about $61 billion in 2017–18 to be Australia's secondhighest export earner. Iron ore is the country's biggest export earner. Source: www.bree.gov.au, March 2013 Natural Resources • Issue 1 5

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