A Q & A ON THE MINING INDUSTRY OF TODAY , AND TOMORROW
• WITH TECHNOLOGY & INNOVATION , RISK IS INESCAPABLE , DO YOU FEEL THAT THIS IS EVIDENT IN THE INDUSTRY , AFTER ALL – IN THE BID FOR A SUCCESSFUL AND COST EFFECTIVE FUTURE , BEING THE FIRST ADOPTER COULD VERY WELL END BADLY . As mining companies reinvent themselves through technology — specifically the use of digital , the Internet of Things , and the cloud — the threat of cyber-attack will naturally grow . Increased digital integration between systems , while essential these days to enhance efficiency , open up companies to cyber risk . Many ( if not all I would suggest ) major mining companies have experienced cyberattacks in the past several years .
But that doesn ’ t mean abandoning advanced technologies — it just means companies need to invest in security at the same pace as they invest in innovative solutions . If you are hacked , you should have processes in place to quickly respond .
• WITH THE TRACKING THE TRENDS REPORT RECENTLY RELEASED IS NOW THE
TIME FOR OPTIMISM ACROSS THE INDUSTRY ? The demand for commodities is not going away anytime soon . Given the fluctuation of commodity prices , the key to success for mining companies is all about learning to live at low commodity prices and then taking advantage of upticks as a time to invest in exploration and new projects .
• ONE PARTICULAR TREND THAT IS EMERGING MORE AND MORE IS JOINT VENTURES AND PARTNERSHIPS , THIS WAS IDENTIFIED AS MUCH IN YOUR REPORT , HOW CAN THIS “ ECOSYSTEM ” APPROACH BRING FORWARD A POSITIVE AND MORE PROSPEROUS INDUSTRY ? Governments and miners have continually struggled to maintain open and cooperative dialogues . Resource-rich countries are now trying to balance their desire to attract mining investment with their need to raise the funds to support local economic and social development .
Mining companies need to act on this movement by governments and work to understand their concerns
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