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Disruption
“ We are now in an era of constant disruption … Instead of seeing it as a threat , you should see it as a great opportunity to innovate , evolve and thrive ,” says Paul Mitchell , EY Global Mining & Metals Advisory Leader . EY notes that automation is creating job disruption both within the back office ( through robotic process automation ) and in operations ( through autonomous vehicles ), with the next jobs to be disrupted to be those that schedule and plan work . Allied to this , customer disruption is already occurring in commodities - Morgan Stanley predicts 15 % of gem quality diamonds will be synthetic by 2020 . Electrification of mines is starting to climb the boardroom agenda driving cost reduction , energy efficiency and licence to operate stewardship . Innovative ‘ digital mines ’ are creating a new wave of assets as they become commonly adopted . Economic disruption through regulatory and macroeconomic shifts such as mining code and government changes will have a significant impact .
FEBRUARY 2019