AUSTRALIA governments continue to work with the industry to reduce compliance costs and the regulatory burden that is imposed on the sector ,” Fitzgerald continues . “ Collaboration with other companies and engaging with government to ensure that policy shifts occur to support future growth , expansion and investment is key .”

The compliance costs and regulatory burden – Western Australia has enacted health and safety regimes that apply specifically to mining workplaces , which impose strict rules aimed at establishing a high level of safety and carry significant penalties for non-compliance – often impact the viability of mining projects .

“ The willingness to embrace change , consider innovation in design and identify modern technologies must be improved . This approach to improvement and innovation should be integrated into organisational culture . The ability for organisations to transform is

also limited by the capacity of its leadership to thrive in a world that is increasingly volatile and complex . It is imperative that organisations prioritise vertical leadership development over horizontal skills development ,” observes Fitzgerald .

The digital economy Australia has the world ’ s largest estimated reserves of iron ore with 54bn tonnes , 28 % of the world ’ s estimated 190bn tonnes . As such , the country ’ s majors can benefit from effectively supporting METS ( mining equipment , technology and services ). “ Increasingly , METS are seeking to adapt and position themselves as relevant in the digital economy . This is creating opportunities for them to play a more substantive role within the value , or supply chains , of majors ,” states Fitzgerald .

“ Investments by METS into research and development and data analytics

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