INNOVATION

"We cannot just introduce a new technology because it's fancy"

MMG (HKEX: 1208) CEO Geoffrey Gao believes technology will be increasingly important in delivering on all aspects of mining industry transformation but says we are still in the preparation phase.

Staff reporter
Underground drilling at MMG’s Rosebery mine in Tasmania

Underground drilling at MMG’s Rosebery mine in Tasmania

"We will have the chance to move into the acceleration phase soon but only if we acknowledge, understand and can show we can successfully execute application of the range of technologies now available and those that are on their way," he told Mining Journal's Global Leadership Report.

"We cannot just introduce a new technology because it's fancy.

"We must demonstrate and communicate the benefit. To do that is not easy.

"You can have very new, advanced equipment but that is not necessarily a recipe for higher production and a modern workplace."

He said there needed to be closer collaboration within the industry and with external partners and said it was always easier to introduce new concepts to a new operation, rather than retrofit.

"Leaders also need to become more comfortable with risk as we move the industry forward," he added.

"There are plenty of examples of investment for little or no immediate return.

"Leaders must be able to assess the risk and also make sure all stakeholders understand the risk/reward scenario.

"As an industry, we need to carry on innovating and applying new concepts to our businesses, otherwise we will limit the value from transforming."

MMG expects to produce about 450,000-455,000 tonnes of copper and 250,000-270,000t of zinc this year from its operations in Australia, Peru and the Democratic Republic of Congo.

This article was based on the answer to one of four questions MMG CEO Geoffrey Gao was asked as part of his interview for Mining Journal's Global Leadership Report. The report focus this year was ‘The Workplace of the Future'. The research included open interviews with some 20 major mining executives and a survey of more than 500 industry professionals. The results will be released in late August.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.