In a rapidly evolving global economy, decarbonisation and sustainability have become critical priorities for the mining sector. This is especially true in Australia, where industry leaders are feeling the pressure to modernise at a pace aligned with global peers. In a recent webinar hosted by Chris Gibbs Stewart, CEO of Austmine, industry experts gathered to discuss key findings from ABB’s Mining’s Moment Report and to examine how Australia compares with other mining regions globally.
“This report, titled Mining’s Moment features insights from over 400 mining professionals across 18 countries, including Australia, where 75 executives participated,” said Gibbs Stewart, setting the stage for the conversation about where Australia stands in the global mining landscape. ABB is pleased to release the regional factsheet – Mining’s Moment in Australia to accompany the global report that launched in October, 2024.
Australia's Commitment to Sustainability
Stuart Cowie, Head of ABB Australia’s Process Industries Division, presented findings specific to the Australian market and compared these to global trends. He emphasised Australia’s strong commitment to sustainability, noting that “50% of Australian mining businesses anticipate either significant transformation or indeed a total transformation of their operations over the next five years.” By comparison, globally, 53% of mining companies share this forward-looking approach. While Australia is largely in sync with the rest of the world, it slightly lags in terms of transformation urgency.
Australia’s ESG (environmental, social, and governance) priorities also mirror global trends. “57% of companies in Australia say that health, safety, and well-being are top ESG priorities,” Cowie shared, aligning closely with global figures. In addition, “55% mentioned that quality employment is critical,” a priority also reflected worldwide.
Technology’s Role in Decarbonisation: How Does Australia Stack Up?
Electrification and technological integration are central to mining's decarbonisation efforts, and Australia is making significant strides. Cowie pointed out that “73% of Australian mining companies aim to electrify at least a quarter of their fleets by 2030,” a figure that is slightly higher compared to international efforts.
However, barriers remain. Like their global counterparts, Australian miners are grappling with investment challenges and infrastructure limitations. “57% of Australian operators cite investment requirements as a major barrier,” Cowie revealed, which is identical to the global figure of 57%.
Workforce Challenges: Global Issue, Local Impact
Both in Australia and worldwide, a shortage of skilled talent is slowing down decarbonisation efforts. “Almost half—48%—of the industry is grappling with a shortage of skilled talent,” Cowie noted, with the global figure closely mirroring this. However, Australia is seeing a positive trend, with “74% of companies committed to reskilling their workforce,” compared to a slightly lower global average.
Sarah Coleman, CEO of idoba, highlighted that technology, particularly advancements in AI and machine learning, is key to addressing these workforce challenges. “The technology is now actually catching up to the aspiration,” Coleman said. This is where Australia may have an advantage, as 60% of Australian companies believe that technology can help bridge talent gaps and drive better diversity outcomes.
Collaboration: An Australian Strength
When it comes to collaboration, Australian mining companies are increasingly recognising its importance in achieving decarbonisation goals. Globally, 71% of mining executives say partnerships across the mining ecosystem are crucial. This figure holds true in Australia, where companies are leveraging partnerships to drive innovation.
Cowie noted the rising importance of collaboration in overcoming barriers like investment and infrastructure. “Australian miners are reaching out and inviting us in to discuss their plans. We’re seeing an openness to partnerships that wasn’t as prevalent before,” Cowie said, reflecting a global trend but with greater momentum locally.
Coleman echoed this sentiment, noting that decarbonisation is driving a cultural shift towards more open collaboration: “We’re seeing more humility from companies acknowledging that they don’t have all the answers. There’s a growing understanding that collaboration can accelerate progress.”
A Critical Role in the Global Green Transition
Australia’s role in the global green transition is undeniably crucial. Mining provides the raw materials needed for the world’s green technologies, and Australian companies recognise this. “82% of respondents in Australia are excited about the opportunity to supply the materials needed for the green transition,” Cowie noted, a figure slightly higher than the global average of 73%.
This enthusiasm reflects Australia’s position in providing the resources that the world needs to meet decarbonisation targets. As Cowie concluded, “Mining is no longer being seen just as part of the problem, but actually as a critical part of the solution.”
Australia is moving in tandem with the global mining sector in its decarbonisation journey, with many of its priorities and challenges reflecting those seen around the world. However, Australia also faces unique hurdles, particularly in terms of workforce shortages and infrastructure needs. Despite these, the commitment to transformation, collaboration, and leveraging technology signals a promising future for the Australian mining industry.
As the Mining’s Moment Report highlights, significant transformation is expected by 2030, but the urgency to act is now. Australia’s mining sector has the potential to play a leading role, both nationally and globally, in shaping the green transition.
