The mining industry is at an inflection point, seeking a balance between growth and sustainability that asks for innovation and ingenuity to ensure companies remain relevant, compliant, and scalable.

The mining sector seeks sustainability. It is more than just scale in operations and growth within turbulent times, it is a focus on a new foundation that allows for companies within this volatile and mercurial sector to meet regulatory expectations while staying ahead of stakeholder and market demands. PwC believes that it is digital transformation that’s the key to building this foundation – a non-negotiable that takes mines out from under the complexity of legacy infrastructure and into a space where they have richer control over safety, health, security, production, workflows, and processes. 

It is also technology and its innovative capabilities that has shifted the investment conversation for many mines within the region. A recent analysis in Engineering News found that companies prioritising sustainable mining practices are seeing the benefits across investment opportunities and global attention. Investor appetites, says the SA Mine 2023 report, are shifting away from less environmentally friendly practices and commodities. The reality for the sector is that sustainability is much more than the sum of its environmental benefit parts. It is a global movement that demands companies pay attention to how they approach it and ensure they achieve it over the long and the short term. And South African organisations are doing just that. As evidenced by projects led by Seriti, Exxaro and Anglo American – all making investments into renewable energies. 

However, there is a challenge. There is a shortfall of energy minerals as demand increases with many mines already facing complexities when it comes to meeting demand. They sit at an inflection point – how can they meet demand without compromising on their sustainability agendas? In addition, companies are trying to find the best possible route to ensuring they meet sustainability targets and a focused reduction in greenhouse gas emissions. The sector, already dealing with infrastructural challenges and relentless political and economic instability, can’t be blamed for wanting benefits in addressing sustainability, for asking the question – how can they make sustainability profitable?

There is a link missing. What do mines need to join the dots together? The conversations are ongoing, but many leaders in the industry find there has been very little progress. Mines are ultimately here to make money, but they have the very clear intention of doing so while following best practice and focusing on the core values of sustainability, GHG reduction, employee health and safety. 

The link, for BCX, is in taking a consolidated approach while leveraging the right technologies so digital can find the synergies and overcome the complexities. With digital transformation, the mining sector can move away from fragmented approaches to sustainability and optimisation using data, analytics, automation, and AI solutions that can refine operations and processes in measurable ways. Technology also helps mines to move out of siloed operations and share data that can then fundamentally reimagine sustainability goals – the lack of visibility impacts on profit, outcomes, energy consumption and asset usage. 

Digital transformation allows for mines to consolidate processes and operations, digitise processes, refine reporting, identify stakeholders, and reverse engineer outcomes. With visibility through data and insights, mines can identify areas that are delivering exceptional performance and use the information to then carry those benefits across to other areas of the business. Reporting allows for measuring, which allows for strategic optimisation and for sustainability to move away from just another conversation towards improving profit margins, investor confidence, and innovation.