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As empresas de mineração com desempenho significativo em governança ambiental, social e corporativa (ESG, Environmental, Social and Corporate Governance) podem aproveitar vantagens competitivas de ESG, como estabelecer preços mais altos dos materiais.

A discussão da liderança inovadora analisou algumas das principais tendências e iniciativas que estão impulsionando o setor de mineração industrial para um futuro mais sustentável, os fatores por trás disso e como as empresas podem aproveitar a tecnologia e os dados para orientá-las em direção ao alto desempenho em ESG, operações mais sustentáveis e um futuro certo.

Duração

1 hora e 4 minutos

Faça o download do artigo completo sobre insights de ESG no setor de mineração industrial

Analisamos as principais tendências e iniciativas que orientam o setor de mineração industrial em direção a um futuro mais sustentável

Transcrição do vídeo

[00:00:03.540]<br />
<encoded_tag_open />v -<encoded_tag_closed />With a particular focus<encoded_tag_open />/v<encoded_tag_closed /><!– wpml:html_fragment </p> –>
<p>[00:00:05.250]<br />
on the Industrial Minerals Sector</p>
<p>[00:00:08.620]<br />
of Mining.</p>
<p>[00:00:11.010]<br />
Clearly the adoption of ESG policies is increasingly</p>
<p>[00:00:14.450]<br />
important to the global investment community stakeholders</p>
<p>[00:00:18.110]<br />
in society.</p>
<p>[00:00:19.080]<br />
So, but to what extent are ESG policies</p>
<p>[00:00:22.380]<br />
actually being implemented?</p>
<p>[00:00:25.286]<br />
Where are they today in practice</p>
<p>[00:00:27.660]<br />
and how does this affect different parts of mining?</p>
<p>[00:00:30.850]<br />
Particularly as I said, industrial minerals,</p>
<p>[00:00:33.310]<br />
are there different parts of ESG that are more</p>
<p>[00:00:36.230]<br />
or less important?</p>
<p>[00:00:37.110]<br />
So today we’re going to sort of focus around four themes.</p>
<p>[00:00:41.010]<br />
The first is what is the reality of ESG in industrial</p>
<p>[00:00:44.850]<br />
minerals today?</p>
<p>[00:00:46.380]<br />
How serious is it?</p>
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And number two,</p>
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why did companies who score highly on ESG</p>
<p>[00:00:53.110]<br />
seemed to outperform the market?</p>
<p>[00:00:55.680]<br />
Thirdly would explore right,</p>
<p>[00:00:57.860]<br />
and high technology and data can contribute to ESG.</p>
<p>[00:01:03.180]<br />
And finally, we’ll have a little look at standards.</p>
<p>[00:01:05.580]<br />
So very grateful to be joined today by this August panel.</p>
<p>[00:01:10.811]<br />
I’ll just do a quick round table introduction.</p>
<p>[00:01:13.810]<br />
So first of all, or welcome to Craig Guthrie,</p>
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who is the editor of mining magazine</p>
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with the focus on Europe, middle east and Africa,</p>
<p>[00:01:24.030]<br />
Craig, good morning and welcome.</p>
<p>[00:01:25.910]<br />
<encoded_tag_open />v -<encoded_tag_closed />We’re in Colin,<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:01:27.390]<br />
<encoded_tag_open />v -<encoded_tag_closed />Let Carrol who has worked for a long time in this area,<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:01:33.270]<br />
focus on as managing director and applied intelligence</p>
<p>[00:01:37.440]<br />
mining lead at Accenture with over 20 years ago.</p>
<p>[00:01:42.233]<br />
So, Liv good morning and welcome.</p>
<p>[00:01:44.830]<br />
Dr. Colin Church, team we’re going to put the doctor in front</p>
<p>[00:01:47.260]<br />
of Colin otherwise we’ll get confused with this Colin.</p>
<p>[00:01:49.680]<br />
So Colin I believe you’ve done a lot of work</p>
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for government and policies</p>
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worked for the C R I W M professional body for resources</p>
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and waste management.</p>
<p>[00:01:58.143]<br />
Currently, you’re the CEO of industrial</p>
<p>[00:02:01.290]<br />
sorry the Institute of minerals,</p>
<p>[00:02:05.050]<br />
materials and mining</p>
<p>[00:02:06.800]<br />
that was in the wrong order, excuse me,</p>
<p>[00:02:09.330]<br />
Rainer Westermann,</p>
<p>[00:02:10.180]<br />
who is a group geology and mining director</p>
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for Lhoist based in Belgium.</p>
<p>[00:02:16.257]<br />
Leah Wilson,</p>
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who’s got a background in engineering construction</p>
<p>[00:02:21.290]<br />
is currently group sustainability vice president</p>
<p>[00:02:24.750]<br />
at Emeris in Paris.</p>
<p>[00:02:27.290]<br />
And then from secret, we’re joined by James Edwards.</p>
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Who’s a geologist with plenty of field experience</p>
<p>[00:02:35.090]<br />
and is now moved to the dark side here in sequence</p>
<p>[00:02:38.360]<br />
few years ago, with a particular focus on the industrial</p>
<p>[00:02:42.310]<br />
minerals sector around Europe,</p>
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middle Eastern Africa.</p>
<p>[00:02:45.550]<br />
And finally Dr. Thomas Krome,</p>
<p>[00:02:47.330]<br />
who is in Denmark despite the accent</p>
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and Thomas looks after our environmental segment</p>
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slash vertical from a global perspective.</p>
<p>[00:03:00.570]<br />
So, it’s open to you all.</p>
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Tiny bit of housekeeping,</p>
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this session is being recorded.</p>
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So just be aware of that,</p>
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the mute unmute button, so please, obviously,</p>
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as you will respect people who are speaking</p>
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and if there’s any background noise dogs, cats,</p>
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doorbells, please, please go on mute.</p>
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But of course, remember when you’re speaking to unmute</p>
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and behind the curtain, we have Jess and Claire</p>
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keeping everything going.</p>
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So any glitches whatsoever, just put your hand up</p>
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and I’m sure they will dive in and sort of that.</p>
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So if we’re all sat comfortably coffee in hand,</p>
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we will begin.</p>
<p>[00:03:39.840]<br />
So first question for the panel today,</p>
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ESG has been on the agenda for a long time.</p>
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Why are we still talking about it today</p>
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and what has caused the heightened focus?</p>
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and Colin, if I could go to you first</p>
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for your perspective.</p>
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<encoded_tag_open />v -<encoded_tag_closed />Sure, I guess there,<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:04:01.177]<br />
are a bunch of different things that have come together,</p>
<p>[00:04:03.630]<br />
from my perspective as to why we’re still talking</p>
<p>[00:04:06.350]<br />
about it, perhaps more at the moment than, other times.</p>
<p>[00:04:09.880]<br />
First of all, I think it’s been highlighted</p>
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by some of the unfortunate errors</p>
<p>[00:04:16.710]<br />
that have triggered interest in this.</p>
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I mean, everyday dam failure would be an absolute classic</p>
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of course,</p>
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but there have been a number of other things</p>
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in the recent past, either environmental or for example,</p>
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some incidents in Australia around sacred sites.</p>
<p>[00:04:32.560]<br />
And I think that’s really raised the profile</p>
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beyond the mining industry of the importance,</p>
<p>[00:04:38.750]<br />
of worrying about these things.</p>
<p>[00:04:39.583]<br />
And I think that’s one element of it.</p>
<p>[00:04:42.130]<br />
I think a second element is people are just about starting</p>
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to recognize beyond again, the mining industry,</p>
<p>[00:04:50.430]<br />
how absolutely fundamental mining and extractive industries</p>
<p>[00:04:53.270]<br />
are not only to the current society,</p>
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but also the society that we’re all aiming towards</p>
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a low carbon and reasonable source efficiency, oddly</p>
<p>[00:05:02.019]<br />
the amounts of minerals and metals,</p>
<p>[00:05:03.622]<br />
we’re going to have to extract in order to deliver</p>
<p>[00:05:06.347]<br />
the technology that’s going to deliver us</p>
<p>[00:05:08.337]<br />
that low carbon and resource efficient society</p>
<p>[00:05:10.660]<br />
is massive and people don’t want it to be done in a bad way.</p>
<p>[00:05:14.940]<br />
You know, if you are VM and Liv</p>
<p>[00:05:17.080]<br />
if you were a member of extinction rebellion, for example,</p>
<p>[00:05:19.490]<br />
and you think that we really need to make these move,</p>
<p>[00:05:21.480]<br />
you don’t want to do it at the cost of child labor</p>
<p>[00:05:23.410]<br />
in one country or serious environments damaged</p>
<p>[00:05:26.510]<br />
somewhere else.</p>
<p>[00:05:27.343]<br />
So I think some incidents and in that general concern,</p>
<p>[00:05:30.596]<br />
growing concern and awareness of the importance</p>
<p>[00:05:33.560]<br />
of the role of mining and how it links</p>
<p>[00:05:37.030]<br />
into the, the future gender.</p>
<p>[00:05:38.540]<br />
Those were the two that I would highlight.</p>
<p>[00:05:40.930]<br />
<encoded_tag_open />v -<encoded_tag_closed />Thank you very much indeed for that goal.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:05:42.642]<br />
And so if I could follow that one up then,</p>
<p>[00:05:45.880]<br />
so with those two points, really in mind,</p>
<p>[00:05:48.770]<br />
the you know, sort of clearly there’s been accidents</p>
<p>[00:05:51.810]<br />
and things that have highlighted it</p>
<p>[00:05:53.057]<br />
and the importance of mining to the future,</p>
<p>[00:05:55.310]<br />
if I could go right into sort of Rainer or Leah</p>
<p>[00:05:58.352]<br />
from your perspective,</p>
<p>[00:06:00.330]<br />
how does that play out into your particular area?</p>
<p>[00:06:04.372]<br />
And what I’m interested in is,</p>
<p>[00:06:06.440]<br />
has that led to a renewed focus</p>
<p>[00:06:09.790]<br />
and has that led to resourcing implications around roles,</p>
<p>[00:06:13.990]<br />
for example Claire perhaps?</p>
<p>[00:06:18.200]<br />
<encoded_tag_open />v -<encoded_tag_closed />Sure, no.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:06:19.270]<br />
I definitely think that,</p>
<p>[00:06:20.730]<br />
those two points highlighted,</p>
<p>[00:06:22.983]<br />
have contributed to</p>
<p>[00:06:27.040]<br />
a shift in the way and the importance</p>
<p>[00:06:31.420]<br />
in the perception of ESG within our company.</p>
<p>[00:06:33.974]<br />
I think there’s maybe a third element I would add</p>
<p>[00:06:37.070]<br />
is just generally growing expectation from customers</p>
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and local authorities.</p>
<p>[00:06:43.800]<br />
That mean that we also need to continue to improve</p>
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and adapt.</p>
<p>[00:06:50.270]<br />
And I think that</p>
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companies have really realized,</p>
<p>[00:06:55.660]<br />
and again, as you already mentioned, you know,</p>
<p>[00:06:58.170]<br />
there’s a long history of understanding</p>
<p>[00:06:59.970]<br />
that our operations need to be managed in a certain way,</p>
<p>[00:07:02.810]<br />
but companies have realized that there’s,</p>
<p>[00:07:06.749]<br />
an important differentiation factor in terms of risk</p>
<p>[00:07:11.130]<br />
management and in terms of also commercial management</p>
<p>[00:07:14.890]<br />
so that they need to have the ESG elements fully embedded</p>
<p>[00:07:19.310]<br />
into their processes.</p>
<p>[00:07:20.450]<br />
And if you want to fully embed all of these ESG considerations</p>
<p>[00:07:23.720]<br />
into your processes yeah,</p>
<p>[00:07:24.720]<br />
that does mean a shift in, in the way you’re,</p>
<p>[00:07:27.253]<br />
you’re staffing them.</p>
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If it’s not a nice to have,</p>
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and it’s more of a must have,</p>
<p>[00:07:33.900]<br />
then you need to have the teams with the competencies</p>
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to manage it.</p>
<p>[00:07:37.643]<br />
And that means sometimes competencies or partnerships</p>
<p>[00:07:41.560]<br />
on subject where maybe we were not sufficiently staffed</p>
<p>[00:07:46.030]<br />
in the past.</p>
<p>[00:07:46.863]<br />
I think for example, management of biodiversity,</p>
<p>[00:07:50.890]<br />
it’s a different set of skills and expertise</p>
<p>[00:07:53.070]<br />
and scientific knowledge that we wouldn’t necessarily,</p>
<p>[00:07:56.026]<br />
you know, 20 years ago had on staff.</p>
<p>[00:07:58.890]<br />
So that impacts your environmental teams</p>
<p>[00:08:02.408]<br />
being able to perform life cycle assessments.</p>
<p>[00:08:06.230]<br />
That’s a different competency that again,</p>
<p>[00:08:09.520]<br />
we may not have had in the past,</p>
<p>[00:08:10.690]<br />
but we need to equip ourselves to have.</p>
<p>[00:08:12.700]<br />
So as each one of these ESG themes is put forward</p>
<p>[00:08:18.080]<br />
more into the agenda,</p>
<p>[00:08:19.040]<br />
it definitely affect how we integrated into our processes</p>
<p>[00:08:22.440]<br />
and how we staff our central and or our business functions</p>
<p>[00:08:26.160]<br />
or our teams on site to address them.</p>
<p>[00:08:30.360]<br />
<encoded_tag_open />v -<encoded_tag_closed />Yeah, thank you very much, indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:08:31.910]<br />
We’re going to come back to that point</p>
<p>[00:08:34.504]<br />
in a second, but Craig,</p>
<p>[00:08:36.150]<br />
I’d just like to sort of flick round to yourself</p>
<p>[00:08:38.740]<br />
from your perspective as the journalist on the panel.</p>
<p>[00:08:43.026]<br />
What’s your,</p>
<p>[00:08:45.790]<br />
what’s your reading of how the perception</p>
<p>[00:08:50.820]<br />
across the industry has changed</p>
<p>[00:08:53.960]<br />
over the recent couple of years?</p>
<p>[00:08:56.165]<br />
Is it a threat or is it actually an opportunity?</p>
<p>[00:09:02.670]<br />
<encoded_tag_open />v -<encoded_tag_closed />I would say it’s evolved from a threat to an opportunity.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:09:06.480]<br />
I think truly ESG has moved on from being</p>
<p>[00:09:09.140]<br />
just about say investor pressure,</p>
<p>[00:09:12.330]<br />
which is what it was born out of, perhaps at the start,</p>
<p>[00:09:15.430]<br />
but now companies are starting to tackle it</p>
<p>[00:09:17.130]<br />
in operationalization of the, the processes</p>
<p>[00:09:19.347]<br />
that they need to take on at a very highest level.</p>
<p>[00:09:24.290]<br />
I think for me as a journalist,</p>
<p>[00:09:26.480]<br />
I see ESG becoming as big a part of the value chain</p>
<p>[00:09:29.978]<br />
I’ll say processing or exploration.</p>
<p>[00:09:31.650]<br />
And I think this field is only going to grow.</p>
<p>[00:09:34.720]<br />
I think the key thing as call it a lidded too,</p>
<p>[00:09:37.040]<br />
is avoiding perhaps gaining a terminal image</p>
<p>[00:09:41.690]<br />
when that’s been associated with fossil fuels</p>
<p>[00:09:44.080]<br />
and getting the message out there to people</p>
<p>[00:09:45.990]<br />
that we really are going to be an essential part</p>
<p>[00:09:47.880]<br />
of the transition.</p>
<p>[00:09:51.780]<br />
<encoded_tag_open />v -<encoded_tag_closed />Great.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:09:52.613]<br />
Thank you very much, indeed.</p>
<p>[00:09:53.512]<br />
And sort of,</p>
<p>[00:09:54.420]<br />
Liv how can sort of circle back round to yourself</p>
<p>[00:09:57.380]<br />
from your perspective where you sit with Accenture,</p>
<p>[00:10:01.640]<br />
what’s your sort of view on where ESG is today,</p>
<p>[00:10:06.370]<br />
right opportunity and why it’s so important</p>
<p>[00:10:10.205]<br />
and just, what are you picking up from your perspective?</p>
<p>[00:10:15.020]<br />
<encoded_tag_open />v -<encoded_tag_closed />Well,<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:10:15.853]<br />
it’s said to go back to the drivers</p>
<p>[00:10:18.031]<br />
and Craig just mentioned the investor pressure.</p>
<p>[00:10:21.780]<br />
One, I would certainly add is that the impetus</p>
<p>[00:10:26.430]<br />
to bring ESG into all elements of the business.</p>
<p>[00:10:31.161]<br />
And if we could umbrella that almost as sustainability</p>
<p>[00:10:35.610]<br />
woven throughout, has certainly come from increased pressure</p>
<p>[00:10:41.230]<br />
and action taken by the institution investors.</p>
<p>[00:10:44.280]<br />
And that’s really been in the last 24, 36 months</p>
<p>[00:10:48.113]<br />
that we have seen a significant increase in that.</p>
<p>[00:10:51.079]<br />
And that is one of the key drivers as to why</p>
<p>[00:10:54.000]<br />
the mining companies have,</p>
<p>[00:10:55.900]<br />
mineral companies have really started to embrace this.</p>
<p>[00:11:00.510]<br />
How about going back to your question,</p>
<p>[00:11:03.160]<br />
how that plays out in the,</p>
<p>[00:11:05.580]<br />
every piece of work we do with our clients,</p>
<p>[00:11:08.180]<br />
whether it’s a strategy around autonomous operations</p>
<p>[00:11:11.250]<br />
or solving for a specific issue in a mining operation,</p>
<p>[00:11:16.483]<br />
there’s an element of sustainability and an ESG involved,</p>
<p>[00:11:21.530]<br />
and that’s actually factored into the design of processes</p>
<p>[00:11:25.164]<br />
as well as the solutions themselves to enable it.</p>
<p>[00:11:29.870]<br />
It’s really all about enabling the right data capture</p>
<p>[00:11:33.790]<br />
that then generates the necessary insights</p>
<p>[00:11:36.610]<br />
for you to pull these leavers to positively impact ESG.</p>
<p>[00:11:40.840]<br />
And our clients certainly are,</p>
<p>[00:11:43.267]<br />
are not seeing it as a threat</p>
<p>[00:11:44.730]<br />
they’re wholly embracing it to Leah’s point</p>
<p>[00:11:48.000]<br />
about the consumer push or consumer pull, really</p>
<p>[00:11:52.850]<br />
the consumers are much more aware</p>
<p>[00:11:56.670]<br />
of sustainability.</p>
<p>[00:11:58.900]<br />
They want mining products to come from sources</p>
<p>[00:12:02.730]<br />
that are not infringing on human rights</p>
<p>[00:12:04.097]<br />
that are mined sustainably with renewable energies.</p>
<p>[00:12:07.970]<br />
And that is then,</p>
<p>[00:12:11.180]<br />
we are seeing our clients</p>
<p>[00:12:13.100]<br />
embrace that as an opportunity</p>
<p>[00:12:15.230]<br />
because there’s as Leah thing also mentioned,</p>
<p>[00:12:17.630]<br />
there’s a differentiator there that’s possible.</p>
<p>[00:12:20.260]<br />
If you are capturing the right data,</p>
<p>[00:12:22.040]<br />
you can prove the provenance and you can demonstrate</p>
<p>[00:12:25.350]<br />
that your products are meeting ESG</p>
<p>[00:12:29.520]<br />
appropriately ESG standards or green and sustainable.</p>
<p>[00:12:35.440]<br />
<encoded_tag_open />v -<encoded_tag_closed />Lev thanks you very much, indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:12:37.933]<br />
I’m sure this could be a days conversation</p>
<p>[00:12:42.190]<br />
in and of itself,</p>
<p>[00:12:43.420]<br />
thank you very much for those points.</p>
<p>[00:12:45.310]<br />
I think there’s quite a few that we will come back</p>
<p>[00:12:47.440]<br />
to and pick up.</p>
<p>[00:12:48.620]<br />
We’ll move on now to the second question,</p>
<p>[00:12:50.730]<br />
if we may,</p>
<p>[00:12:51.563]<br />
and this really is around business performance</p>
<p>[00:12:53.820]<br />
or getting into the sort of, you know,</p>
<p>[00:12:55.830]<br />
rubber hits the road here, what’s the actual impact.</p>
<p>[00:12:58.950]<br />
So looking at industrial minerals,</p>
<p>[00:13:02.030]<br />
the nature of industrial minerals means that more often</p>
<p>[00:13:04.550]<br />
there no quarries and operations are closer to urban areas,</p>
<p>[00:13:08.730]<br />
does this place a bigger or lesser emphasis</p>
<p>[00:13:11.920]<br />
on certain elements or ESG</p>
<p>[00:13:15.210]<br />
and their importance to the business?</p>
<p>[00:13:18.172]<br />
And Rainer you’ll forgive me if I sort of start off</p>
<p>[00:13:21.580]<br />
with you on that one.</p>
<p>[00:13:27.480]<br />
<encoded_tag_open />v -<encoded_tag_closed />Okay, I hope I understood everything well.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:13:33.100]<br />
So looking specifically at our minds,</p>
<p>[00:13:35.570]<br />
I think these aspects</p>
<p>[00:13:38.939]<br />
are born because we simply don’t see the acceptance anymore</p>
<p>[00:13:42.520]<br />
in the population to expand our operations</p>
<p>[00:13:46.399]<br />
or even to make refills.</p>
<p>[00:13:48.100]<br />
It’s almost impossible.</p>
<p>[00:13:49.680]<br />
We are operating across the globe</p>
<p>[00:13:53.420]<br />
about 60 to 70 mining operations.</p>
<p>[00:13:56.439]<br />
And when I look at the recent years, greenfield,</p>
<p>[00:14:01.648]<br />
were started in the U S and that’s much easier</p>
<p>[00:14:04.653]<br />
than in Europe and in Europe, we are in central Europe</p>
<p>[00:14:07.890]<br />
we were able to do that</p>
<p>[00:14:09.510]<br />
when we go to countries like Germany or France or Belgium,</p>
<p>[00:14:13.510]<br />
these things are</p>
<p>[00:14:17.020]<br />
simply not accepted by the people</p>
<p>[00:14:20.600]<br />
So the focus on this on sustainability</p>
<p>[00:14:26.012]<br />
and we cluster,</p>
<p>[00:14:26.845]<br />
we organizers in three pillars,</p>
<p>[00:14:31.360]<br />
what we call people, planet and profit</p>
<p>[00:14:34.300]<br />
and the pillar covering the mines</p>
<p>[00:14:38.210]<br />
is on the planet.</p>
<p>[00:14:41.688]<br />
And,</p>
<p>[00:14:42.521]<br />
there we have a specific focus on resource valorization,</p>
<p>[00:14:47.920]<br />
and this is,</p>
<p>[00:14:51.110]<br />
this is not completely new to us</p>
<p>[00:14:52.940]<br />
because we are a family owned company.</p>
<p>[00:14:54.911]<br />
But definitely,</p>
<p>[00:15:00.060]<br />
we had a high focus on listings.</p>
<p>[00:15:01.630]<br />
And the way we mentioned across the group</p>
<p>[00:15:03.600]<br />
is that we are,</p>
<p>[00:15:07.170]<br />
that we are using the know how we,</p>
<p>[00:15:08.930]<br />
we collected in some regions specifically in Western Europe,</p>
<p>[00:15:13.670]<br />
that we try to spread it out in the other regions</p>
<p>[00:15:18.330]<br />
by creating a subtle organization,</p>
<p>[00:15:21.850]<br />
which is looking at this aspect.</p>
<p>[00:15:24.570]<br />
<encoded_tag_open />v -<encoded_tag_closed />At Rainer, thank you very much, indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:15:26.140]<br />
So I think the short answer is, yes,</p>
<p>[00:15:28.840]<br />
this is very important</p>
<p>[00:15:30.080]<br />
for them.<br />
<encoded_tag_open />v -<encoded_tag_closed />It is.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:15:31.076]<br />
(indistinct)</p>
<p>[00:15:33.217]<br />
<encoded_tag_open />v -<encoded_tag_closed />And if I could pick up on one point,<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:15:35.230]<br />
so you mentioned about a central organization</p>
<p>[00:15:38.650]<br />
to ensure that your best practice.</p>
<p>[00:15:41.180]<br />
So are you now employing roles today,</p>
<p>[00:15:45.610]<br />
particularly, and specifically for ESG projects</p>
<p>[00:15:49.940]<br />
and work that you wouldn’t have done five, 10 years?</p>
<p>[00:15:54.100]<br />
<encoded_tag_open />v -<encoded_tag_closed />Yes, of course.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:15:55.660]<br />
Yeah, we have since a few years,</p>
<p>[00:15:56.800]<br />
sustainability officer in our company</p>
<p>[00:15:58.940]<br />
and he’s, the center of this organization.</p>
<p>[00:16:03.970]<br />
And when I say centralize organization,</p>
<p>[00:16:07.010]<br />
it means, in fact, it’s some metrics.</p>
<p>[00:16:08.660]<br />
So we are using the resources from each of the regions</p>
<p>[00:16:11.110]<br />
we have to, for these topics across the group.</p>
<p>[00:16:16.980]<br />
<encoded_tag_open />v -<encoded_tag_closed />Rainer thank you very much, indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:16:18.662]<br />
So on that point then if we sort of take that back to points</p>
<p>[00:16:23.930]<br />
made before by Craig and Colin and others.</p>
<p>[00:16:28.980]<br />
So do you now see,</p>
<p>[00:16:32.923]<br />
as the company that you’re with,</p>
<p>[00:16:34.460]<br />
do you see ESG as a source of advantage business advantage?</p>
<p>[00:16:39.870]<br />
Does it differentiate you from competitors?</p>
<p>[00:16:42.540]<br />
Does it help you appeal to investors and communities</p>
<p>[00:16:46.350]<br />
and stakeholders?</p>
<p>[00:16:47.183]<br />
Is it a source of business advantage?</p>
<p>[00:16:53.670]<br />
<encoded_tag_open />v -<encoded_tag_closed />Do you want any one of us to take that<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:16:55.573]<br />
or do you have the one in.</p>
<p>[00:16:56.698]<br />
<encoded_tag_open />v -<encoded_tag_closed />Okay just go ahead.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:16:57.770]<br />
Yes, actually, yes.</p>
<p>[00:17:00.900]<br />
Leah, please.</p>
<p>[00:17:02.931]<br />
<encoded_tag_open />v -<encoded_tag_closed />I don’t mind it.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:17:04.990]<br />
I think, yes,</p>
<p>[00:17:06.080]<br />
I think there are multiple studies that, you know,</p>
<p>[00:17:10.420]<br />
that demonstrate that there are commercial advantages</p>
<p>[00:17:14.120]<br />
for well managing a range of ESG topics,</p>
<p>[00:17:18.850]<br />
be it from, you know, even the diversity angle</p>
<p>[00:17:21.770]<br />
or any of the environmental angles.</p>
<p>[00:17:24.680]<br />
And I think there are several reasons for that.</p>
<p>[00:17:28.140]<br />
I think even if we are,</p>
<p>[00:17:30.550]<br />
the panelists are making a very clear point</p>
<p>[00:17:32.570]<br />
that it’s moving from a threat to an opportunity,</p>
<p>[00:17:36.910]<br />
clearly managing ESG topics still enables</p>
<p>[00:17:41.540]<br />
you to anticipate and better manage risks.</p>
<p>[00:17:45.290]<br />
And in some cases growing risks.</p>
<p>[00:17:47.040]<br />
So understanding that you need to have,</p>
<p>[00:17:50.510]<br />
a very forward looking</p>
<p>[00:17:53.070]<br />
and robust management of risks,</p>
<p>[00:17:55.300]<br />
for example, you know, climate scenario analysis.</p>
<p>[00:17:58.270]<br />
So you can anticipate that and integrate</p>
<p>[00:17:59.930]<br />
it into your business.</p>
<p>[00:18:01.810]<br />
It brings some commercial advantages,</p>
<p>[00:18:04.660]<br />
I think, without a doubt,</p>
<p>[00:18:06.780]<br />
there’s some reputational benefits associated</p>
<p>[00:18:10.180]<br />
with that to speak to the point of, you know,</p>
<p>[00:18:13.580]<br />
we have a challenge of not in my backyard</p>
<p>[00:18:16.860]<br />
kind of situation ,</p>
<p>[00:18:18.930]<br />
we find ourselves in and being able to demonstrate</p>
<p>[00:18:23.200]<br />
that you have a strong, solid</p>
<p>[00:18:26.030]<br />
and reputation,</p>
<p>[00:18:27.643]<br />
and being able to engage with your local communities,</p>
<p>[00:18:32.550]<br />
your local stakeholders, and be able to prove</p>
<p>[00:18:35.640]<br />
what you do has has definite</p>
<p>[00:18:39.250]<br />
sort of commercial benefits.</p>
<p>[00:18:40.535]<br />
I think it’s a very important lever for engagement</p>
<p>[00:18:43.320]<br />
with our employees.</p>
<p>[00:18:44.640]<br />
They want to be proud for, you know,</p>
<p>[00:18:47.310]<br />
the companies that they they work in.</p>
<p>[00:18:50.020]<br />
And I think that it’s very linked also to innovation.</p>
<p>[00:18:54.870]<br />
I mean, being able to drive your organization</p>
<p>[00:18:58.180]<br />
towards solving existing challenges</p>
<p>[00:19:02.360]<br />
through an ESG lens</p>
<p>[00:19:04.450]<br />
is definitely a way to demonstrate the leadership,</p>
<p>[00:19:07.580]<br />
and differentiate ourselves from others.</p>
<p>[00:19:09.940]<br />
So to make the short answer, yes.</p>
<p>[00:19:14.471]<br />
<encoded_tag_open />v -<encoded_tag_closed />A raft of benefits, actually,<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:19:18.380]<br />
there are probably in a, sort of, as much about reputation</p>
<p>[00:19:21.970]<br />
as much about employee engagement</p>
<p>[00:19:23.760]<br />
actually, and you mentioned innovation as well.</p>
<p>[00:19:26.610]<br />
So actually this is driving fresh thinking, use solutions,</p>
<p>[00:19:29.920]<br />
new ways of doing things.</p>
<p>[00:19:31.387]<br />
And Liv if I could go around to you on,</p>
<p>[00:19:34.390]<br />
on that point from again,</p>
<p>[00:19:35.720]<br />
from your broad perspective in Accenture,</p>
<p>[00:19:39.860]<br />
how do you see these,</p>
<p>[00:19:42.820]<br />
the importance of the business performance panning out</p>
<p>[00:19:45.600]<br />
is the other,</p>
<p>[00:19:46.940]<br />
some areas more its reputation and attracting stakeholders</p>
<p>[00:19:51.040]<br />
more important than the end consumer,</p>
<p>[00:19:53.220]<br />
or are you seeing the advantages that Leah</p>
<p>[00:19:56.380]<br />
has talked about being broadly ubiquitous across</p>
<p>[00:19:59.730]<br />
all the different groups?</p>
<p>[00:20:03.456]<br />
<encoded_tag_open />v -<encoded_tag_closed />That’s a really interesting question.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:20:07.918]<br />
And what we have seen is a distinct shift</p>
<p>[00:20:10.490]<br />
across the industry, no matter what the commodity,</p>
<p>[00:20:14.010]<br />
a distinct shift from focusing on delivering value</p>
<p>[00:20:17.350]<br />
to shareholders, to delivering value for all stakeholders</p>
<p>[00:20:21.820]<br />
and all stakeholders is now a ginormous,</p>
<p>[00:20:24.161]<br />
all encompassing group of people</p>
<p>[00:20:27.460]<br />
that includes the Leah rightly mentioned.</p>
<p>[00:20:28.678]<br />
I was pleased to hear you say about employees</p>
<p>[00:20:31.660]<br />
actually wanting to work for a company</p>
<p>[00:20:33.490]<br />
that is extracting mineral responsibly.</p>
<p>[00:20:36.700]<br />
And that is super critical to attracting the right skills</p>
<p>[00:20:40.730]<br />
to the industry that we need going forward.</p>
<p>[00:20:43.440]<br />
And one of the main drivers of how,</p>
<p>[00:20:46.150]<br />
just how important has become is the generational change</p>
<p>[00:20:50.280]<br />
and the younger generations actually being less,</p>
<p>[00:20:56.281]<br />
I’ll try and put this kind of less interested in mining</p>
<p>[00:20:59.540]<br />
and less respectful of the importance of mining,</p>
<p>[00:21:03.290]<br />
and really wanting to work for companies</p>
<p>[00:21:06.484]<br />
that are responsibly carrying out business</p>
<p>[00:21:10.713]<br />
and the younger generations will certainly call out</p>
<p>[00:21:14.110]<br />
companies if they feel they’re not behaving responsibly,</p>
<p>[00:21:17.340]<br />
they’re not shy of doing that.</p>
<p>[00:21:18.820]<br />
They’ve grown up as digital natives.</p>
<p>[00:21:21.250]<br />
So they’re very vocal on social media.</p>
<p>[00:21:24.050]<br />
So that’s a really key stakeholder</p>
<p>[00:21:26.470]<br />
that has to be factored in because the mining industry,</p>
<p>[00:21:31.070]<br />
the minerals industry,</p>
<p>[00:21:31.903]<br />
is already suffering from a skill shortage.</p>
<p>[00:21:34.530]<br />
And that will only grow as we need to expand</p>
<p>[00:21:37.720]<br />
the skills range, including new things</p>
<p>[00:21:40.070]<br />
like data scientists and data engineers,</p>
<p>[00:21:42.210]<br />
AI specialists, et cetera,</p>
<p>[00:21:44.690]<br />
more biodiversity specialists,</p>
<p>[00:21:46.848]<br />
more climate change specialists,</p>
<p>[00:21:49.440]<br />
but they I’ve forgotten exactly what the question was,</p>
<p>[00:21:53.070]<br />
but the, the how it,</p>
<p>[00:21:55.695]<br />
(laughing)</p>
<p>[00:21:56.528]<br />
in terms of.</p>
<p>[00:21:57.536]<br />
(inaudible)</p>
<p>[00:21:59.339]<br />
<encoded_tag_open />v -<encoded_tag_closed />The engagement is critical.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:22:02.213]<br />
And, and ESG is a core part of why we need to engage</p>
<p>[00:22:06.340]<br />
with the stakeholders,</p>
<p>[00:22:07.520]<br />
that there were so many business advantages,</p>
<p>[00:22:09.680]<br />
because there are so many negatives</p>
<p>[00:22:11.840]<br />
if we don’t get it right as an industry.</p>
<p>[00:22:14.190]<br />
Now, if you can’t,</p>
<p>[00:22:16.268]<br />
you don’t have an effective ESG or sustainability program</p>
<p>[00:22:20.940]<br />
with clear actions that you are then proving</p>
<p>[00:22:23.760]<br />
that you are walking the talk, not just putting,</p>
<p>[00:22:27.833]<br />
these great plans, but actually nothing ever happens.</p>
<p>[00:22:30.457]<br />
You have to be able to prove that you have achieved that</p>
<p>[00:22:34.530]<br />
then your cost of capital is going to go up.</p>
<p>[00:22:37.086]<br />
if you don’t,</p>
<p>[00:22:38.210]<br />
if you aren’t operating in the right way</p>
<p>[00:22:41.060]<br />
and not seem to be responsible,</p>
<p>[00:22:42.202]<br />
you won’t attract the right skillset.</p>
<p>[00:22:44.276]<br />
If you aren’t effectively engaging with your stakeholders,</p>
<p>[00:22:47.840]<br />
your community stakeholders,</p>
<p>[00:22:49.224]<br />
and that’s a two way engagement.</p>
<p>[00:22:51.470]<br />
So that’s really shifted from the mining company</p>
<p>[00:22:54.410]<br />
or minerals company, informing the local stakeholders</p>
<p>[00:22:57.732]<br />
to actually working in collaboration</p>
<p>[00:23:01.170]<br />
with the local stakeholders.</p>
<p>[00:23:02.890]<br />
So if you aren’t doing that,</p>
<p>[00:23:04.150]<br />
you’re going to come up against a lot of resistance</p>
<p>[00:23:07.890]<br />
and difficulties in developing and running your operation</p>
<p>[00:23:14.000]<br />
so that there are, and then of course,</p>
<p>[00:23:15.570]<br />
you’ve got the governments and the NGOs</p>
<p>[00:23:17.270]<br />
and all the other stakeholders that need to be engaged</p>
<p>[00:23:19.160]<br />
with the,</p>
<p>[00:23:19.993]<br />
there are lots of benefits to engaging appropriately</p>
<p>[00:23:23.290]<br />
with stakeholders and weaving ESG throughout the business.</p>
<p>[00:23:28.870]<br />
<encoded_tag_open />v -<encoded_tag_closed />Thank you very much.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:23:29.768]<br />
Sorry if the question is a little bit vague,</p>
<p>[00:23:31.110]<br />
but I think you answered it and very fully,</p>
<p>[00:23:34.836]<br />
so thank you very much,</p>
<p>[00:23:35.883]<br />
some really interesting points coming out now.</p>
<p>[00:23:37.850]<br />
So I’m calling Dr. Kohler.</p>
<p>[00:23:40.510]<br />
She said, otherwise, we’ll get confused</p>
<p>[00:23:43.200]<br />
if I could take that back to yourself again,</p>
<p>[00:23:45.110]<br />
from your perspective, from where you said,</p>
<p>[00:23:48.220]<br />
I’m interested in a couple of things.</p>
<p>[00:23:50.820]<br />
So I think Leah and Rainer and Liv</p>
<p>[00:23:54.680]<br />
have made the point that this is now pretty ubiquitous.</p>
<p>[00:23:57.540]<br />
It covers stakeholders at the investor side,</p>
<p>[00:24:00.780]<br />
it’s now covers in employees.</p>
<p>[00:24:02.760]<br />
It covers your reputation to customers, and it’s everywhere.</p>
<p>[00:24:08.890]<br />
Do you see any pockets of resistance?</p>
<p>[00:24:11.873]<br />
Have you, are you,</p>
<p>[00:24:13.420]<br />
are there any parts of the industry</p>
<p>[00:24:15.670]<br />
which are further ahead or lagging behind?</p>
<p>[00:24:19.130]<br />
Do you see any resistance to any of the,</p>
<p>[00:24:21.690]<br />
or is what’s been spoken about</p>
<p>[00:24:25.400]<br />
not just ubiquitous across the stakeholders,</p>
<p>[00:24:28.040]<br />
but ubiquitous in implementation</p>
<p>[00:24:31.060]<br />
by industry wide</p>
<p>[00:24:34.640]<br />
or are there some laggards?</p>
<p>[00:24:38.160]<br />
<encoded_tag_open />v -<encoded_tag_closed />Yeah, so I think just before I do that,<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:24:40.770]<br />
I just want to add to everything you said before,</p>
<p>[00:24:43.410]<br />
which I completely agree with,</p>
<p>[00:24:44.350]<br />
but there is another thing that I think is worth</p>
<p>[00:24:46.060]<br />
bearing in mind, a lot of studies in the UK,</p>
<p>[00:24:48.699]<br />
just not in mining, but just generally looking</p>
<p>[00:24:51.330]<br />
at the performance of companies</p>
<p>[00:24:54.190]<br />
have noticed a really strong correlation between performance</p>
<p>[00:24:56.851]<br />
on health and safety, environmental rules and profitability.</p>
<p>[00:25:02.110]<br />
And I think there’s another point</p>
<p>[00:25:03.350]<br />
which underpins everything.</p>
<p>[00:25:04.640]<br />
If you’re good at managing your company,</p>
<p>[00:25:06.240]<br />
you’re good at managing your company for ESG,</p>
<p>[00:25:09.590]<br />
for health and safety and for profit.</p>
<p>[00:25:11.800]<br />
And I think, that’s why in many respects</p>
<p>[00:25:14.410]<br />
for an investor looking at ESG, it’s a good marker.</p>
<p>[00:25:18.080]<br />
If you’re successful at ESG,</p>
<p>[00:25:19.280]<br />
you’re probably a well managed company.</p>
<p>[00:25:21.860]<br />
In terms of outs and such like,</p>
<p>[00:25:23.870]<br />
I think you can look at things</p>
<p>[00:25:25.930]<br />
like the responsible mining foundations,</p>
<p>[00:25:28.630]<br />
RMI the index, looking at individual assets, for example,</p>
<p>[00:25:31.900]<br />
and get a sense there of companies.</p>
<p>[00:25:34.293]<br />
I think the picture is mixed.</p>
<p>[00:25:37.040]<br />
Don’t think I’m going to make a bit of an assertion,</p>
<p>[00:25:40.610]<br />
but I don’t think there’s a clear cut difference</p>
<p>[00:25:42.970]<br />
between privately held and publicly held</p>
<p>[00:25:46.440]<br />
dodging mining companies.</p>
<p>[00:25:48.300]<br />
But the caveat on that is,</p>
<p>[00:25:49.610]<br />
of course we don’t have as much data about the privately</p>
<p>[00:25:51.770]<br />
held companies.</p>
<p>[00:25:52.603]<br />
So I have to be a bit cautious in saying that</p>
<p>[00:25:55.950]<br />
and some of them are really good</p>
<p>[00:25:57.597]<br />
and some of them are not so good.</p>
<p>[00:25:59.420]<br />
And I think the same would be true</p>
<p>[00:26:00.873]<br />
of mid-size and (indistinct) for, I think,</p>
<p>[00:26:03.380]<br />
where there’s a real problem.</p>
<p>[00:26:04.360]<br />
And you might absolutely understand why is in art design</p>
<p>[00:26:08.190]<br />
on small mining where basically</p>
<p>[00:26:10.420]<br />
they just don’t have my point earlier.</p>
<p>[00:26:11.850]<br />
They don’t have the management capacity</p>
<p>[00:26:14.920]<br />
to think about some of these issues.</p>
<p>[00:26:16.270]<br />
It’s not, they don’t necessarily want to,</p>
<p>[00:26:18.328]<br />
it’s just, they haven’t got the capacity to do it.</p>
<p>[00:26:20.517]<br />
And so I think one of the huge challenges for the sector</p>
<p>[00:26:23.190]<br />
as a whole is how do we get those organizations up</p>
<p>[00:26:26.840]<br />
to a minimum standard?</p>
<p>[00:26:28.775]<br />
And I think that’s a huge challenge</p>
<p>[00:26:31.080]<br />
that we all really ought to be working on coming.</p>
<p>[00:26:32.783]<br />
I mean, I’m a chief executive of a membership organization,</p>
<p>[00:26:37.030]<br />
so I’m going to say this onsite,</p>
<p>[00:26:38.530]<br />
but I think one of the absolutely key elements</p>
<p>[00:26:40.720]<br />
of that is the standard of professionalism</p>
<p>[00:26:43.070]<br />
of individuals working in those spaces</p>
<p>[00:26:45.630]<br />
because professional mining engineers,</p>
<p>[00:26:48.930]<br />
and all the rest of it,</p>
<p>[00:26:50.270]<br />
we talked about working all of those companies,</p>
<p>[00:26:52.240]<br />
big, middle and small.</p>
<p>[00:26:53.740]<br />
They are in a sense, a common theme.</p>
<p>[00:26:56.410]<br />
And the more that we can do to make sure</p>
<p>[00:26:57.910]<br />
that they have the professional competencies</p>
<p>[00:26:59.430]<br />
necessary to act in this space, the more that will help.</p>
<p>[00:27:04.290]<br />
<encoded_tag_open />v -<encoded_tag_closed />Thank you very much, indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:27:05.404]<br />
Rainer if I could circle, sorry.</p>
<p>[00:27:08.720]<br />
Rainer do you want to.</p>
<p>[00:27:10.113]<br />
<encoded_tag_open />v -<encoded_tag_closed />Yes, I just would like to comment on Colin’s staples.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:27:15.600]<br />
As I mentioned,</p>
<p>[00:27:16.433]<br />
I worked for a private company and where I don’t agree,</p>
<p>[00:27:20.470]<br />
you know, I’m a specialist for,</p>
<p>[00:27:24.036]<br />
I’m heading geology and mining team</p>
<p>[00:27:25.810]<br />
since almost three decades now.</p>
<p>[00:27:27.527]<br />
And I think what is the difference?</p>
<p>[00:27:29.390]<br />
And I experienced that when I hired</p>
<p>[00:27:34.305]<br />
experts from other business, is that sustainability.</p>
<p>[00:27:38.490]<br />
So the long-term aspect was always and focus.</p>
<p>[00:27:41.480]<br />
We have minimizing waste.</p>
<p>[00:27:43.146]<br />
So we already talked 20 years ago about a zero waste</p>
<p>[00:27:47.160]<br />
concept in our company.</p>
<p>[00:27:48.990]<br />
And then it simply because,</p>
<p>[00:27:51.234]<br />
we try to utilize the reserves as good as we can.</p>
<p>[00:27:57.340]<br />
We don’t like to downgrade the use of our stone.</p>
<p>[00:28:01.620]<br />
For example,</p>
<p>[00:28:02.453]<br />
if we can make a chemical product out of a stone,</p>
<p>[00:28:05.170]<br />
we don’t want to make aggregates out of it</p>
<p>[00:28:07.050]<br />
because it doesn’t make the profit.</p>
<p>[00:28:08.870]<br />
So a lot of these elements I think are driven</p>
<p>[00:28:11.213]<br />
by the fact that we are family owned</p>
<p>[00:28:13.610]<br />
and the family wants to secure the company</p>
<p>[00:28:15.846]<br />
for the next generations.</p>
<p>[00:28:17.900]<br />
That’s the way they are thinking.</p>
<p>[00:28:23.920]<br />
For example when we make plans, long-term migrants,</p>
<p>[00:28:26.730]<br />
we never look at a net present value is for example,</p>
<p>[00:28:31.140]<br />
like in other companies</p>
<p>[00:28:36.143]<br />
and,</p>
<p>[00:28:38.640]<br />
an aspect what is difficult for us in all the discussion</p>
<p>[00:28:42.340]<br />
is a time factor.</p>
<p>[00:28:44.250]<br />
Because as you know, in our business,</p>
<p>[00:28:45.977]<br />
we are huge CO2 producer.</p>
<p>[00:28:48.900]<br />
It’s due to our process we have in place.</p>
<p>[00:28:52.130]<br />
And, I look at our planet pillar,</p>
<p>[00:28:56.140]<br />
one of the challenge we have is to lower the ambitions.</p>
<p>[00:28:59.910]<br />
That simply requires a lot of technology,</p>
<p>[00:29:02.560]<br />
which is not available today.</p>
<p>[00:29:04.920]<br />
And so, our research department is working on that together</p>
<p>[00:29:08.960]<br />
with university that’s on,</p>
<p>[00:29:10.160]<br />
but it needs time to get that under control,</p>
<p>[00:29:14.330]<br />
to reduce infected CO2 emissions.</p>
<p>[00:29:17.940]<br />
That’s what we want to,</p>
<p>[00:29:19.290]<br />
it’s the same as energy.</p>
<p>[00:29:20.340]<br />
Energy is a little bit simpler for us because,</p>
<p>[00:29:25.105]<br />
there are a big sources,</p>
<p>[00:29:28.390]<br />
of alternative green energies for processes,</p>
<p>[00:29:32.656]<br />
but it’s also a bit depending</p>
<p>[00:29:36.760]<br />
where we are in which countries we are in,</p>
<p>[00:29:39.280]<br />
in Brazil, it’s coming already,</p>
<p>[00:29:41.610]<br />
since he has to operate part of our clans with sword,</p>
<p>[00:29:46.970]<br />
what is not possible in other,</p>
<p>[00:29:48.970]<br />
or in Spain, we do that,</p>
<p>[00:29:52.790]<br />
was the rays,</p>
<p>[00:29:55.740]<br />
from the olive oil production</p>
<p>[00:29:57.790]<br />
we can operate cancer.</p>
<p>[00:29:59.040]<br />
So we have this kind of things,</p>
<p>[00:30:01.190]<br />
but it’s a long process and these are challenges</p>
<p>[00:30:04.010]<br />
I would this and this will cost a lot of money,</p>
<p>[00:30:06.180]<br />
the investments,</p>
<p>[00:30:08.709]<br />
to reduce the CO2.</p>
<p>[00:30:09.780]<br />
And this is the STA problem according to this,</p>
<p>[00:30:13.010]<br />
also going, maybe in,</p>
<p>[00:30:14.970]<br />
what you mentioned</p>
<p>[00:30:16.110]<br />
is I asked myself and we had the biggest</p>
<p>[00:30:19.200]<br />
live producer of the world,</p>
<p>[00:30:20.360]<br />
but I asked myself if small family producers</p>
<p>[00:30:23.620]<br />
can handle this in the future.</p>
<p>[00:30:26.310]<br />
I think it will change the structure of our industry.</p>
<p>[00:30:31.070]<br />
<encoded_tag_open />v -<encoded_tag_closed />Rainer, thank you very much, indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:30:32.190]<br />
A lot of really good points.</p>
<p>[00:30:33.560]<br />
They’re very interesting.</p>
<p>[00:30:34.770]<br />
Can I come back to you,</p>
<p>[00:30:35.716]<br />
on two quick points</p>
<p>[00:30:40.020]<br />
employees,</p>
<p>[00:30:42.720]<br />
two questions,</p>
<p>[00:30:44.580]<br />
as you are, where you are and you go where you go</p>
<p>[00:30:48.550]<br />
and you have all these investments, et cetera,</p>
<p>[00:30:51.850]<br />
going back to the employee question.</p>
<p>[00:30:54.520]<br />
What is your experience of hiring employees</p>
<p>[00:30:58.860]<br />
in this current world?</p>
<p>[00:31:00.290]<br />
Are they upfront with their questions</p>
<p>[00:31:03.140]<br />
about your foreman’s</p>
<p>[00:31:05.900]<br />
about your ESG plans?</p>
<p>[00:31:08.160]<br />
Are they tuned into that?</p>
<p>[00:31:10.910]<br />
But surprisingly a lot or a little, what was the sort of,</p>
<p>[00:31:15.280]<br />
what are you detecting from bringing new talent</p>
<p>[00:31:18.260]<br />
into the business and where are on that awareness spectrum?</p>
<p>[00:31:27.850]<br />
<encoded_tag_open />v -<encoded_tag_closed />I’ll take it from my part.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:31:30.700]<br />
Yeah, absolutely tuned into that.</p>
<p>[00:31:34.390]<br />
And maybe going back to the part of what Colin</p>
<p>[00:31:38.931]<br />
and we both Colin’s sort of, alluded to,</p>
<p>[00:31:41.390]<br />
I think it’s a bit heterogynous.</p>
<p>[00:31:43.432]<br />
I think that we have also has Liv mentioned</p>
<p>[00:31:48.060]<br />
that a generational factor, but not only that,</p>
<p>[00:31:52.980]<br />
certainly people who are starting off their careers</p>
<p>[00:31:56.960]<br />
in various functions</p>
<p>[00:31:59.230]<br />
are asking, the HR teams during the interview,</p>
<p>[00:32:04.140]<br />
a lot more questions about ESG topics.</p>
<p>[00:32:07.810]<br />
We see that,</p>
<p>[00:32:10.170]<br />
through the interview feedback</p>
<p>[00:32:12.590]<br />
and also through the request of the HR teams,</p>
<p>[00:32:15.550]<br />
to be more trained on how to respond to all</p>
<p>[00:32:18.840]<br />
of these types of questions that they weren’t seeing</p>
<p>[00:32:20.970]<br />
in the past.</p>
<p>[00:32:22.410]<br />
But I do think there’s a different element</p>
<p>[00:32:26.290]<br />
from country to country.</p>
<p>[00:32:27.320]<br />
There are certain countries that I think that the topic</p>
<p>[00:32:31.230]<br />
of sustainability or VAGD is a little bit more</p>
<p>[00:32:34.050]<br />
on the forefront.</p>
<p>[00:32:34.883]<br />
And that influences, I think the types of questions</p>
<p>[00:32:38.610]<br />
we see in interviews</p>
<p>[00:32:39.460]<br />
and I think it also the job market, you know,</p>
<p>[00:32:41.730]<br />
how tight the job market is and how much competition</p>
<p>[00:32:45.910]<br />
there is for a label sort of changes</p>
<p>[00:32:49.996]<br />
the demands that a potential employee will put on in,</p>
<p>[00:32:54.940]<br />
in the recruitment process.</p>
<p>[00:32:56.970]<br />
But that, I think also speaks to your former question</p>
<p>[00:32:59.540]<br />
as well, Colin, about, you know,</p>
<p>[00:33:00.950]<br />
different levels of maturity and gaps.</p>
<p>[00:33:03.890]<br />
I think that we have different countries</p>
<p>[00:33:08.590]<br />
and different markets where sustainability,</p>
<p>[00:33:11.695]<br />
has a stronger pole.</p>
<p>[00:33:13.510]<br />
And I think that that affects it in many ways,</p>
<p>[00:33:16.070]<br />
both in terms of standards and performance</p>
<p>[00:33:18.080]<br />
and the legislations, but also in terms</p>
<p>[00:33:20.110]<br />
of the future and current employees</p>
<p>[00:33:26.080]<br />
in engagement and sort of expectations</p>
<p>[00:33:28.870]<br />
on in terms of sustainability.</p>
<p>[00:33:32.370]<br />
<encoded_tag_open />v -<encoded_tag_closed />Yeah, thank you very much, indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:33:34.240]<br />
Thank you all very much for that.</p>
<p>[00:33:36.447]<br />
that’s another huge topic that we literally scratched the</p>
<p>[00:33:39.080]<br />
surface on, but I’ve read some really interesting points</p>
<p>[00:33:41.190]<br />
Come out.</p>
<p>[00:33:42.099]<br />
We’re going to flip gears slightly now,</p>
<p>[00:33:44.260]<br />
but picking up on some of the points mentioned,</p>
<p>[00:33:46.824]<br />
we’ll move into sort of technology now in digital</p>
<p>[00:33:51.160]<br />
data was mentioned right at the start.</p>
<p>[00:33:54.400]<br />
So let’s pick the spotlight on digital</p>
<p>[00:33:58.640]<br />
and Rainer thank you very much for the perfect segue.</p>
<p>[00:34:01.940]<br />
Digital transformation takes time to yield results.</p>
<p>[00:34:06.060]<br />
How do you see the industry building the case</p>
<p>[00:34:09.820]<br />
for significant investments, digital technology,</p>
<p>[00:34:13.730]<br />
whatever it is,</p>
<p>[00:34:15.050]<br />
and where the immediate payback NPVIRR</p>
<p>[00:34:19.370]<br />
is not there.</p>
<p>[00:34:22.570]<br />
And Rainer the very obvious place to go is yourself,</p>
<p>[00:34:26.650]<br />
but I’m going to pause for that for a second.</p>
<p>[00:34:29.100]<br />
If I actually just flip around to sequent now,</p>
<p>[00:34:32.360]<br />
and I actually asked them just to sort of perhaps change,</p>
<p>[00:34:35.580]<br />
you’d like to lead off on that question,</p>
<p>[00:34:38.760]<br />
because I think it would be very nice to sort of flip back</p>
<p>[00:34:40.900]<br />
to the point Rainer made earlier, but first and foremost,</p>
<p>[00:34:45.690]<br />
James, what’s your perspective on that from sequence</p>
<p>[00:34:50.000]<br />
vantage point?</p>
<p>[00:34:52.043]<br />
<encoded_tag_open />v -<encoded_tag_closed />Thanks, Colin.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:34:53.270]<br />
Yeah, I think, I mean,</p>
<p>[00:34:54.170]<br />
digital transformation is always an interesting,</p>
<p>[00:34:57.047]<br />
conversation to have I think,</p>
<p>[00:34:59.739]<br />
but one of the angles to look at maybe as to why digital</p>
<p>[00:35:02.330]<br />
transformation projects can become so expensive</p>
<p>[00:35:04.860]<br />
in the first place and why you see delays</p>
<p>[00:35:07.070]<br />
in these things being implemented.</p>
<p>[00:35:09.010]<br />
And I think sometimes it might be the added complexity</p>
<p>[00:35:12.430]<br />
of trying to develop custom solutions.</p>
<p>[00:35:15.050]<br />
Other times it could be because the foundations</p>
<p>[00:35:17.410]<br />
of good data management have kind of been skipped</p>
<p>[00:35:19.420]<br />
over in the urgency to get to that new</p>
<p>[00:35:21.290]<br />
kind of big shiny solution.</p>
<p>[00:35:23.430]<br />
And I think it’s becoming more incumbent</p>
<p>[00:35:25.080]<br />
on software providers,</p>
<p>[00:35:26.030]<br />
such as sequence to work with industry partners,</p>
<p>[00:35:29.880]<br />
to share that burden of innovation.</p>
<p>[00:35:31.820]<br />
And we need to kind of help de-risk</p>
<p>[00:35:34.040]<br />
that value proposition of change.</p>
<p>[00:35:36.460]<br />
So, you know, the primary role of safe for leaders</p>
<p>[00:35:39.302]<br />
such as Emeris the industry is to extract the resources,</p>
<p>[00:35:41.650]<br />
to keep the global economy moving whilst also respecting</p>
<p>[00:35:44.850]<br />
their responsibilities to the environment in the communities</p>
<p>[00:35:48.330]<br />
they serve.</p>
<p>[00:35:49.420]<br />
So again, it’s, we, as that support and industry</p>
<p>[00:35:51.753]<br />
need to be developing the that support that goal.</p>
<p>[00:35:55.340]<br />
And we need to ensure that where there is investments</p>
<p>[00:35:57.680]<br />
being made it’s in those proven technologies.</p>
<p>[00:36:02.230]<br />
You know, I suppose, to build the case,</p>
<p>[00:36:06.090]<br />
if you have to build a case for significant investment</p>
<p>[00:36:08.540]<br />
where the usual measures of value, don’t initially stand up,</p>
<p>[00:36:11.587]<br />
we need to build that trust.</p>
<p>[00:36:15.060]<br />
We need to be able to trust and develop a culture</p>
<p>[00:36:16.840]<br />
that kind of embraces that change through</p>
<p>[00:36:18.950]<br />
probably through the successful execution of initiatives</p>
<p>[00:36:21.130]<br />
that present, I suppose, what you could call easy wins.</p>
<p>[00:36:24.416]<br />
And I think there’s still plenty of opportunities</p>
<p>[00:36:26.350]<br />
out there in the current environment</p>
<p>[00:36:28.000]<br />
that fit this criteria, where,</p>
<p>[00:36:30.867]<br />
you know, you can, there’s the low hanging fruit,</p>
<p>[00:36:34.360]<br />
if you will.</p>
<p>[00:36:35.330]<br />
And you know, the majority of those, again,</p>
<p>[00:36:37.420]<br />
revolve around a focus on great data management</p>
<p>[00:36:39.980]<br />
and reducing that uncertainty in the business.</p>
<p>[00:36:42.550]<br />
And I’ll see from a geology groups perspective,</p>
<p>[00:36:46.964]<br />
but, you know,</p>
<p>[00:36:48.310]<br />
where’s the greatest uncertainty in any minus supply chain.</p>
<p>[00:36:51.170]<br />
And it’s always at the front end of that resource,</p>
<p>[00:36:53.850]<br />
the uncertainty and a resource.</p>
<p>[00:36:55.210]<br />
If you can reduce it,</p>
<p>[00:36:56.043]<br />
there is going to add the greatest value</p>
<p>[00:36:57.330]<br />
to the rest of your minus supply chain.</p>
<p>[00:37:00.180]<br />
So obviously in our role is quite interesting</p>
<p>[00:37:03.070]<br />
because we get to see a lot of different customers</p>
<p>[00:37:04.700]<br />
that we work with.</p>
<p>[00:37:05.730]<br />
And we consistently see that huge benefit that customers</p>
<p>[00:37:08.500]<br />
are gaining through maximizing the value of the information</p>
<p>[00:37:11.610]<br />
they collect.</p>
<p>[00:37:13.290]<br />
Now, whether that’s improving security, access speed,</p>
<p>[00:37:16.190]<br />
or clarity of data,</p>
<p>[00:37:17.023]<br />
having those robust solutions in place</p>
<p>[00:37:19.300]<br />
that data at the center of any conversation</p>
<p>[00:37:21.660]<br />
will always lead to a better result.</p>
<p>[00:37:24.600]<br />
So, I mean, we’ve got examples from case studies.</p>
<p>[00:37:27.500]<br />
We’ve done a recent one with wholesome</p>
<p>[00:37:29.690]<br />
where they demonstrated how better use of their resource</p>
<p>[00:37:32.250]<br />
data led to from an environmental benefit</p>
<p>[00:37:34.900]<br />
led to a reduction in waste material by 150,000 tons a year</p>
<p>[00:37:38.800]<br />
and on to operate and savings over $3 million a year.</p>
<p>[00:37:42.150]<br />
And it’s, I think it’s those kinds of successes</p>
<p>[00:37:43.780]<br />
that we can then use to develop further business cases</p>
<p>[00:37:46.650]<br />
or simply provide confidence that further innovation</p>
<p>[00:37:48.990]<br />
and development where the payback</p>
<p>[00:37:51.170]<br />
is probably not as immediately clear,</p>
<p>[00:37:52.720]<br />
and it will, then hold true for where a dollar value</p>
<p>[00:37:56.180]<br />
is not the primary motivation.</p>
<p>[00:37:58.100]<br />
So if you take the example again,</p>
<p>[00:38:00.040]<br />
from a geography perspective of being able to minimize</p>
<p>[00:38:02.760]<br />
contaminant material before it ends up in the plant,</p>
<p>[00:38:04.960]<br />
or somewhere on waste dumps, you know,</p>
<p>[00:38:07.130]<br />
efficient management of that material significantly</p>
<p>[00:38:09.480]<br />
reduces the risk of future liabilities</p>
<p>[00:38:11.680]<br />
for companies, communities, environment.</p>
<p>[00:38:14.700]<br />
But if we can’t, you know, if we can’t measure,</p>
<p>[00:38:18.050]<br />
monitor and track that material, which all requires again,</p>
<p>[00:38:21.260]<br />
robust data management,</p>
<p>[00:38:22.650]<br />
then we’re not going to be able to prove</p>
<p>[00:38:23.970]<br />
the ongoing benefit.</p>
<p>[00:38:25.560]<br />
So yeah, I guess in summary,</p>
<p>[00:38:27.810]<br />
like software providers need to continue to step up</p>
<p>[00:38:30.650]<br />
and support industry partners.</p>
<p>[00:38:31.970]<br />
You know, we need to continue to develop the solutions</p>
<p>[00:38:34.090]<br />
that are in line with their business needs.</p>
<p>[00:38:35.510]<br />
I mean, it’s to make the case for larger investment</p>
<p>[00:38:38.320]<br />
in innovation and change by demonstrating the value</p>
<p>[00:38:41.090]<br />
of getting the basic things right.</p>
<p>[00:38:42.780]<br />
And we need that robust data management in place</p>
<p>[00:38:44.630]<br />
so we can measure and articulate the value</p>
<p>[00:38:46.660]<br />
of those initiatives that may evolve over years.</p>
<p>[00:38:49.780]<br />
<encoded_tag_open />v -<encoded_tag_closed />James, thank you very much in that.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:38:51.277]<br />
I’m going to pick up particularly on, that data point.</p>
<p>[00:38:53.833]<br />
So, you know, clearly digital transformation</p>
<p>[00:38:57.330]<br />
in as an electrical, you know, sort of trucks,</p>
<p>[00:39:00.070]<br />
you know, sort of really renewed olive oil</p>
<p>[00:39:02.990]<br />
power you’re focusing on the area that you’ve mentioned</p>
<p>[00:39:07.500]<br />
about the data and the core analysis of that data.</p>
<p>[00:39:12.309]<br />
Rainer if I could come to yourself,</p>
<p>[00:39:15.414]<br />
how do you approach</p>
<p>[00:39:17.920]<br />
the investments</p>
<p>[00:39:20.826]<br />
where it’s not based on NPV,</p>
<p>[00:39:23.690]<br />
what is the culture?</p>
<p>[00:39:24.600]<br />
What have you had to change in your business</p>
<p>[00:39:27.590]<br />
to be able to make those longer term investments</p>
<p>[00:39:30.648]<br />
in the areas that James has been talking about</p>
<p>[00:39:35.030]<br />
where the traditional IRR and NVP business case</p>
<p>[00:39:38.624]<br />
is out the window,</p>
<p>[00:39:40.617]<br />
what have you had to change within your business</p>
<p>[00:39:43.500]<br />
to be able to do that?</p>
<p>[00:39:46.840]<br />
<encoded_tag_open />v -<encoded_tag_closed />Well, at first,<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:39:48.220]<br />
this is really an interesting question.</p>
<p>[00:39:51.280]<br />
I personally, I believe in the benefits,</p>
<p>[00:39:53.150]<br />
of the digitalization and I say believe</p>
<p>[00:39:56.500]<br />
because I also struggle to prove it.</p>
<p>[00:39:59.530]<br />
And that’s really an, it’s an issue</p>
<p>[00:40:03.504]<br />
also in our company,</p>
<p>[00:40:05.580]<br />
because when I asked</p>
<p>[00:40:08.746]<br />
for capital,</p>
<p>[00:40:11.290]<br />
I have to show the case</p>
<p>[00:40:14.190]<br />
even if we are long-term minded, we have to do that.</p>
<p>[00:40:17.107]<br />
And what we did,</p>
<p>[00:40:20.260]<br />
what I did like three years ago,</p>
<p>[00:40:23.000]<br />
I started to analyze one of our mining operational,</p>
<p>[00:40:26.410]<br />
what data are available.</p>
<p>[00:40:27.610]<br />
And the result of that is what we have a lot of data.</p>
<p>[00:40:30.485]<br />
And I think James knows that,</p>
<p>[00:40:32.570]<br />
in a weak point of</p>
<p>[00:40:38.517]<br />
is the data hosting.</p>
<p>[00:40:39.350]<br />
So the data are not sitting on one platform</p>
<p>[00:40:41.850]<br />
or in one system.</p>
<p>[00:40:42.810]<br />
So it’s not available to everybody,</p>
<p>[00:40:47.820]<br />
that’s why we are trying to find a platform</p>
<p>[00:40:52.530]<br />
where we can integrate the data.</p>
<p>[00:40:53.950]<br />
And we don’t want to replace all our systems.</p>
<p>[00:40:56.160]<br />
That would be a huge project,</p>
<p>[00:40:57.360]<br />
but we would like to integrate the data</p>
<p>[00:41:00.210]<br />
so that it is visible maybe in one dashboard or so,</p>
<p>[00:41:06.620]<br />
which could be modified to the function</p>
<p>[00:41:10.200]<br />
of who’s using the dashboard.</p>
<p>[00:41:12.890]<br />
That’s what we believe.</p>
<p>[00:41:15.840]<br />
That’s the next step.</p>
<p>[00:41:16.907]<br />
After this analyze, we looked at the gaps we have,</p>
<p>[00:41:21.100]<br />
and we are trying now to fill the gaps in data gathering.</p>
<p>[00:41:23.902]<br />
And this is where we were,</p>
<p>[00:41:27.470]<br />
where it requires some investments</p>
<p>[00:41:30.648]<br />
that this is not for free.</p>
<p>[00:41:31.910]<br />
And that’s where the that’s my current discussion</p>
<p>[00:41:38.120]<br />
with the management,</p>
<p>[00:41:40.290]<br />
if we should spend money in this field or not.</p>
<p>[00:41:43.527]<br />
But I, again, I personally believe in it</p>
<p>[00:41:46.830]<br />
because looking at the general trends in the industry,</p>
<p>[00:41:50.150]<br />
all the companies made money with their data.</p>
<p>[00:41:52.390]<br />
And wait, I think I strongly believe</p>
<p>[00:41:54.480]<br />
that we have to utilize our data in a better way</p>
<p>[00:41:57.970]<br />
to what James we’re stating.</p>
<p>[00:42:00.020]<br />
And this fits also, I think,</p>
<p>[00:42:01.330]<br />
in this discussion that the knowledge,</p>
<p>[00:42:05.030]<br />
of the depth of the detail knowledge,</p>
<p>[00:42:08.152]<br />
and I think it’s a foundation,</p>
<p>[00:42:09.550]<br />
to manage the deposit in a sustainable way.</p>
<p>[00:42:12.895]<br />
What I told you that we try to minimize waste,</p>
<p>[00:42:15.990]<br />
and we only can minimize waste when we know</p>
<p>[00:42:18.470]<br />
where do we have a potential to blend</p>
<p>[00:42:20.170]<br />
where and what’s, the best sequencing in the mine plan,</p>
<p>[00:42:28.260]<br />
to enable us to blend and these things.</p>
<p>[00:42:30.730]<br />
And for that I think</p>
<p>[00:42:34.181]<br />
we need it this is a basis,</p>
<p>[00:42:35.870]<br />
but this is already existing</p>
<p>[00:42:37.190]<br />
since in most of our operations,</p>
<p>[00:42:39.240]<br />
not everywhere, but most of our operation.</p>
<p>[00:42:41.970]<br />
<encoded_tag_open />v -<encoded_tag_closed />Rainer thank you very much indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:42:44.280]<br />
Let me see if I can come around to yourself.</p>
<p>[00:42:47.300]<br />
So you look after clearly, not just across mining,</p>
<p>[00:42:50.207]<br />
but can you have a broader back to the cross environment</p>
<p>[00:42:54.880]<br />
perhaps lends itself to a little bit,</p>
<p>[00:42:56.427]<br />
bit of a longer term investment profile,</p>
<p>[00:42:59.370]<br />
and that’s sort of what we’re looking at.</p>
<p>[00:43:02.256]<br />
Yeah.</p>
<p>[00:43:03.089]<br />
James what’s your perspective in digital transformation</p>
<p>[00:43:05.390]<br />
in regard to the conversation?</p>
<p>[00:43:09.080]<br />
<encoded_tag_open />v -<encoded_tag_closed />I think that both James and Rainer<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:43:11.560]<br />
or point out the biggest challenge</p>
<p>[00:43:14.280]<br />
and that is the access to the information, right?</p>
<p>[00:43:18.600]<br />
It’s becoming easier and easier to collect the information</p>
<p>[00:43:22.350]<br />
and all the customers we talk to in every segment,</p>
<p>[00:43:25.950]<br />
you know, be it mining or infrastructure or environment</p>
<p>[00:43:30.500]<br />
are getting inundated in data today.</p>
<p>[00:43:32.718]<br />
But the data inevitably sits in different systems</p>
<p>[00:43:38.292]<br />
and architectures and places and platforms</p>
<p>[00:43:42.070]<br />
and all of those right.</p>
<p>[00:43:44.370]<br />
And as a software provider, they own this on us and our,</p>
<p>[00:43:48.224]<br />
and our colleague businesses to become less siloed</p>
<p>[00:43:52.991]<br />
and only, you know, walled gardens.</p>
<p>[00:43:55.200]<br />
I use the analogy, walled gardens a lot, right.</p>
<p>[00:43:58.100]<br />
We need to move away from walled gardens</p>
<p>[00:44:00.630]<br />
and to open data standards</p>
<p>[00:44:05.750]<br />
and processes so that it isn’t, you know,</p>
<p>[00:44:10.810]<br />
a new for, you know,</p>
<p>[00:44:13.630]<br />
chromed project,</p>
<p>[00:44:14.980]<br />
every time some company needs a system, right.</p>
<p>[00:44:17.760]<br />
That you can, you know, pick an old windows added,</p>
<p>[00:44:22.470]<br />
you know, it’s plug and play.</p>
<p>[00:44:24.330]<br />
Right.</p>
<p>[00:44:25.893]<br />
And I see the industry,</p>
<p>[00:44:28.920]<br />
unfortunately slowly moving in that direction.</p>
<p>[00:44:31.700]<br />
You know, they’re not all software vendors</p>
<p>[00:44:34.120]<br />
are like sequence and believe in a very open environment.</p>
<p>[00:44:40.351]<br />
But, you know, my view is that, you know,</p>
<p>[00:44:42.510]<br />
our industry needs to be better at providing open systems</p>
<p>[00:44:47.140]<br />
so that it makes it easier for everyone to get access</p>
<p>[00:44:50.360]<br />
to data because it facilitates many things.</p>
<p>[00:44:54.950]<br />
You know, it facilitates that an operator</p>
<p>[00:44:58.520]<br />
of a bucket loader at a site can actually see</p>
<p>[00:45:02.220]<br />
after the blast,</p>
<p>[00:45:04.180]<br />
which material is which right.</p>
<p>[00:45:06.190]<br />
You can do that today.</p>
<p>[00:45:07.690]<br />
And it facilitates that all the different stakeholders</p>
<p>[00:45:11.020]<br />
can get a better insight and comment on, you know,</p>
<p>[00:45:15.530]<br />
on a proposed mine expansion.</p>
<p>[00:45:17.507]<br />
Right?</p>
<p>[00:45:18.586]<br />
It’s all of those things that it can facilitate</p>
<p>[00:45:22.800]<br />
if all those hurdles in between, on the data connectivity</p>
<p>[00:45:26.140]<br />
are you know, either lowered or removed.</p>
<p>[00:45:30.546]<br />
<encoded_tag_open />v -<encoded_tag_closed />Thank you very much indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:45:32.410]<br />
I’m going to flick Rainer or Craig, from your perspective,</p>
<p>[00:45:35.900]<br />
sitting in a sort of, you know,</p>
<p>[00:45:37.930]<br />
looking in this industry,</p>
<p>[00:45:39.670]<br />
what is your perspective on the digital transformation</p>
<p>[00:45:45.050]<br />
paradigm across the industry?</p>
<p>[00:45:47.572]<br />
How are you seeing, what are you picking up?</p>
<p>[00:45:49.960]<br />
Is it ubiquitous?</p>
<p>[00:45:51.000]<br />
Is it helping have people embraced it</p>
<p>[00:45:53.740]<br />
or is there still hesitation?</p>
<p>[00:45:57.740]<br />
<encoded_tag_open />v -<encoded_tag_closed />Well, I think,<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:46:00.386]<br />
as Rainer alluded</p>
<p>[00:46:04.438]<br />
to it can be seen as,</p>
<p>[00:46:06.457]<br />
as a moonshot really sometimes when you’re,</p>
<p>[00:46:08.370]<br />
tackling processes and technologies</p>
<p>[00:46:11.070]<br />
that have been in place for decades.</p>
<p>[00:46:13.037]<br />
But I think that if you look for example,</p>
<p>[00:46:16.490]<br />
at how the power of battery has evolved,</p>
<p>[00:46:20.440]<br />
just even in the past five years,</p>
<p>[00:46:23.480]<br />
they couldn’t power anything 10 years ago.</p>
<p>[00:46:26.640]<br />
And we look for what can be achieved by technology.</p>
<p>[00:46:29.810]<br />
I think that it’s really important that perhaps companies</p>
<p>[00:46:32.980]<br />
focus on specific goals at the start,</p>
<p>[00:46:36.290]<br />
the pathways to more ESG friendly technologies</p>
<p>[00:46:39.850]<br />
and all, they then look at new technologies,</p>
<p>[00:46:42.240]<br />
but I think they need to keep a broad mind</p>
<p>[00:46:44.730]<br />
when it comes to exploring experimental</p>
<p>[00:46:47.450]<br />
and you opening areas.</p>
<p>[00:46:50.550]<br />
I think that’s particularly important</p>
<p>[00:46:51.900]<br />
because for many companies,</p>
<p>[00:46:54.070]<br />
the processes haven’t been formulated yet</p>
<p>[00:46:56.420]<br />
of how they’re actually going to tackle using technology</p>
<p>[00:46:59.450]<br />
to ESG goals.</p>
<p>[00:47:03.510]<br />
The management mindset needs to see it as important</p>
<p>[00:47:06.030]<br />
as productivity, really,</p>
<p>[00:47:07.590]<br />
for the longevity of the company and the wider industry.</p>
<p>[00:47:10.880]<br />
And then if the metrics set at the start are wrong,</p>
<p>[00:47:14.140]<br />
then everything could be wrong that they had done</p>
<p>[00:47:16.500]<br />
at the end of the road.</p>
<p>[00:47:17.970]<br />
So I think that when considering new technologies</p>
<p>[00:47:20.940]<br />
change management, it’s critical in terms of clashes.</p>
<p>[00:47:24.470]<br />
There may be clashes with the engineering side</p>
<p>[00:47:26.820]<br />
of businesses, but comes back to this license to operate.</p>
<p>[00:47:31.380]<br />
And sustainability depends on getting</p>
<p>[00:47:33.420]<br />
those data processes right.</p>
<p>[00:47:35.890]<br />
And basically incentivize everyone to play their own part.</p>
<p>[00:47:40.750]<br />
<encoded_tag_open />v -<encoded_tag_closed />Great, thank you very much, indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:47:41.970]<br />
Some really interesting points there</p>
<p>[00:47:43.490]<br />
we’re going to dwell on digital,</p>
<p>[00:47:46.200]<br />
just a couple more points.</p>
<p>[00:47:49.520]<br />
Picking up on that point that you’ve made Craig</p>
<p>[00:47:52.810]<br />
about mindset and aligning stakeholders</p>
<p>[00:47:56.400]<br />
and having the right metrics.</p>
<p>[00:47:58.500]<br />
Leah, if I could come around to you,</p>
<p>[00:48:01.960]<br />
what’s your experience of that?</p>
<p>[00:48:03.490]<br />
So, you know, sort of digital transformation,</p>
<p>[00:48:05.570]<br />
great you know, software,</p>
<p>[00:48:07.687]<br />
but people have different mindsets,</p>
<p>[00:48:10.269]<br />
people have different motivations.</p>
<p>[00:48:12.690]<br />
What is your experience of that sort of human aspect</p>
<p>[00:48:16.170]<br />
of digital transformation</p>
<p>[00:48:18.170]<br />
and making sure that the stakeholders</p>
<p>[00:48:19.930]<br />
are lined up with a clear set of metrics</p>
<p>[00:48:22.793]<br />
of what we’re trying to achieve versus a high level</p>
<p>[00:48:26.400]<br />
that’s just transformed.</p>
<p>[00:48:27.995]<br />
What’s your experience?</p>
<p>[00:48:30.470]<br />
<encoded_tag_open />v -<encoded_tag_closed />Oh, that’s a very tough question.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:48:32.710]<br />
You’ve, asked a Colin,</p>
<p>[00:48:35.000]<br />
I’ll take it maybe in two parts.</p>
<p>[00:48:36.260]<br />
I think that one is changed management,</p>
<p>[00:48:39.700]<br />
of people, as in any type of transformation,</p>
<p>[00:48:43.760]<br />
you have to make sure that, if you have different mindsets</p>
<p>[00:48:48.740]<br />
and you’re talking about sort of almost a cultural shift</p>
<p>[00:48:51.290]<br />
inside your organization,</p>
<p>[00:48:52.510]<br />
even if it’s driven by some digital elements</p>
<p>[00:48:55.420]<br />
that needs to be properly accompanied and managed,</p>
<p>[00:48:59.710]<br />
it means, you know, giving people different tools</p>
<p>[00:49:03.645]<br />
that are or asking them to give in different data</p>
<p>[00:49:05.230]<br />
into a new system.</p>
<p>[00:49:06.480]<br />
And you need to, I think sufficiently</p>
<p>[00:49:09.091]<br />
anticipate making sure that they understand why,</p>
<p>[00:49:13.428]<br />
and they understand how they’re going to need</p>
<p>[00:49:15.740]<br />
to be reporting and what they’re going to be reporting</p>
<p>[00:49:18.330]<br />
in and when it’s for.</p>
<p>[00:49:19.163]<br />
And then,</p>
<p>[00:49:20.090]<br />
so that means the different types of training</p>
<p>[00:49:22.101]<br />
and adaptation.</p>
<p>[00:49:23.360]<br />
So I think that’s the first element,</p>
<p>[00:49:25.100]<br />
but I think I’m going to kind of come back</p>
<p>[00:49:28.040]<br />
to part of the original question was about,</p>
<p>[00:49:30.011]<br />
you know, the importance of digital transformation.</p>
<p>[00:49:34.930]<br />
And I think it’s so key because I think one of the main</p>
<p>[00:49:37.840]<br />
drivers from all of the stakeholders</p>
<p>[00:49:40.040]<br />
that we talked about in the beginning is about transparency.</p>
<p>[00:49:43.070]<br />
It’s about being able to show</p>
<p>[00:49:45.640]<br />
that we are responsible operators,</p>
<p>[00:49:48.557]<br />
and we can only do that if we can have a degree</p>
<p>[00:49:51.180]<br />
of transparency that is supported by data.</p>
<p>[00:49:53.980]<br />
And so supported by data speaks to all of the points</p>
<p>[00:49:56.840]<br />
that correct a mine right now,</p>
<p>[00:49:58.110]<br />
I mentioned about the integration of these data systems</p>
<p>[00:50:02.600]<br />
in a way that the people can manage,</p>
<p>[00:50:03.961]<br />
but transparency also means being able to show</p>
<p>[00:50:09.479]<br />
kind of not only where we are</p>
<p>[00:50:10.887]<br />
in terms of our operations,</p>
<p>[00:50:12.410]<br />
but where we’re going into the future.</p>
<p>[00:50:15.450]<br />
So that’s also driven by data.</p>
<p>[00:50:18.640]<br />
That’s also driven by these digital tools.</p>
<p>[00:50:20.850]<br />
So again, to come back to what I said at the beginning</p>
<p>[00:50:23.130]<br />
it’s life cycle assessments, those are really driven</p>
<p>[00:50:27.040]<br />
by new data’s new databases that need to connect</p>
<p>[00:50:30.300]<br />
to different systems.</p>
<p>[00:50:32.670]<br />
It means integrating</p>
<p>[00:50:36.050]<br />
an internal carbon price, for example,</p>
<p>[00:50:38.270]<br />
into a CapEx process to sort of speak to about</p>
<p>[00:50:43.010]<br />
Rainer said, you know, about being able to valorize</p>
<p>[00:50:45.160]<br />
the ESG component in,</p>
<p>[00:50:48.660]<br />
the way we assess products and all of those data-driven</p>
<p>[00:50:52.950]<br />
elements have a human element behind</p>
<p>[00:50:56.460]<br />
because these are new.</p>
<p>[00:50:59.230]<br />
Well, they’re not new as in just yesterday,</p>
<p>[00:51:01.470]<br />
but they’re often new additions to an existing process.</p>
<p>[00:51:05.490]<br />
And we need to make sure that we’re sufficiently</p>
<p>[00:51:09.090]<br />
clear about the why,</p>
<p>[00:51:10.770]<br />
how they’re linked to our group strategy going forward,</p>
<p>[00:51:14.410]<br />
why we need this metric and how each individual</p>
<p>[00:51:18.890]<br />
sort of data provider is contributing to a larger picture.</p>
<p>[00:51:22.670]<br />
Otherwise we’re probably going to fall into,</p>
<p>[00:51:27.074]<br />
the pitfall of, you know, poorly reported data,</p>
<p>[00:51:30.810]<br />
or, you know, not understanding why this,</p>
<p>[00:51:33.960]<br />
there’s data integration and this digital transformation</p>
<p>[00:51:37.070]<br />
is so important for achieving the ESG</p>
<p>[00:51:41.250]<br />
driven ambition now that we might have.</p>
<p>[00:51:44.180]<br />
<encoded_tag_open />v -<encoded_tag_closed />Leah, thank you very much, indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:51:45.551]<br />
And final question on digital.</p>
<p>[00:51:49.610]<br />
Liv if I could come back to your vantage point</p>
<p>[00:51:53.790]<br />
in Accenture,</p>
<p>[00:51:56.370]<br />
what would your advice be to companies</p>
<p>[00:52:01.360]<br />
looking to start accelerate down</p>
<p>[00:52:03.910]<br />
the digital transformation track?</p>
<p>[00:52:08.787]<br />
<encoded_tag_open />v -<encoded_tag_closed />Great question.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:52:10.170]<br />
And I’m going to pick up on what a number of people</p>
<p>[00:52:12.350]<br />
have said here.</p>
<p>[00:52:13.263]<br />
First of all, don’t focus on digital.</p>
<p>[00:52:15.580]<br />
In fact, we don’t call it digital transformation</p>
<p>[00:52:17.780]<br />
in Accenture anymore at all,</p>
<p>[00:52:19.350]<br />
we call it data-driven transformation</p>
<p>[00:52:21.810]<br />
and we’ve even, we had five divisions of Accenture,</p>
<p>[00:52:24.570]<br />
one of which was Accenture digital,</p>
<p>[00:52:26.520]<br />
which 18 months ago now disappeared because digital</p>
<p>[00:52:30.010]<br />
is a given it’s written through everything.</p>
<p>[00:52:34.200]<br />
And one of the difficulties of realizing</p>
<p>[00:52:36.530]<br />
value from digital transformation</p>
<p>[00:52:38.760]<br />
when it first became a high priority,</p>
<p>[00:52:41.300]<br />
six, seven, eight years ago was the fact</p>
<p>[00:52:43.440]<br />
that it was very technology led</p>
<p>[00:52:45.974]<br />
not purpose and data led.</p>
<p>[00:52:49.580]<br />
And to pick up on James’s point</p>
<p>[00:52:51.760]<br />
about saying the foundations of data management</p>
<p>[00:52:54.140]<br />
and often skipped over,</p>
<p>[00:52:55.630]<br />
because it was a case of looking at these digital</p>
<p>[00:52:57.810]<br />
technologies and thinking, well, this is fantastic.</p>
<p>[00:53:00.650]<br />
Where can we implement it rather than looking</p>
<p>[00:53:03.070]<br />
at the business and the business need</p>
<p>[00:53:05.610]<br />
and understanding where your risks are</p>
<p>[00:53:07.890]<br />
and where the value opportunity is,</p>
<p>[00:53:10.581]<br />
and then examining, okay, bearing in mind those focus areas,</p>
<p>[00:53:15.300]<br />
what data do we need to understand the current situation?</p>
<p>[00:53:19.149]<br />
So you need that situation awareness and the baseline</p>
<p>[00:53:22.390]<br />
to know where you’re starting from,</p>
<p>[00:53:24.500]<br />
what conditions you’re starting with,</p>
<p>[00:53:26.890]<br />
and then what insights do we need to generate</p>
<p>[00:53:29.360]<br />
and what data capabilities do we need to enable</p>
<p>[00:53:32.631]<br />
in order to be able to solve</p>
<p>[00:53:34.390]<br />
for those in what the relevant time horizon.</p>
<p>[00:53:38.290]<br />
And that’s really key because also at the very beginning</p>
<p>[00:53:41.530]<br />
of the whole digital transformation piece,</p>
<p>[00:53:44.090]<br />
the mindset was let’s digitize everything.</p>
<p>[00:53:47.500]<br />
That’s how all data, all days is equal.</p>
<p>[00:53:49.530]<br />
All data should be digitized and it should all be</p>
<p>[00:53:52.020]<br />
in one massive place.</p>
<p>[00:53:54.310]<br />
And in fact, that’s not the case.</p>
<p>[00:53:56.210]<br />
You need to be strategic about it,</p>
<p>[00:53:58.280]<br />
and you need to look up for that particular business need</p>
<p>[00:54:02.880]<br />
not operating in silos.</p>
<p>[00:54:04.660]<br />
It’s very important to,</p>
<p>[00:54:05.830]<br />
not look at things in isolation, to,</p>
<p>[00:54:07.980]<br />
to factor in dependencies and constraints of other segments</p>
<p>[00:54:11.530]<br />
of the value chain or other processes that may be impacted,</p>
<p>[00:54:15.880]<br />
excuse the helicopter, going overhead.</p>
<p>[00:54:19.080]<br />
It is very important to be strategic about it.</p>
<p>[00:54:21.870]<br />
So what is the business need?</p>
<p>[00:54:23.210]<br />
It was based on risk and value opportunity.</p>
<p>[00:54:26.370]<br />
What data do you need to actually understand</p>
<p>[00:54:29.620]<br />
the conditions and situate,</p>
<p>[00:54:31.560]<br />
I give you that situation awareness,</p>
<p>[00:54:33.174]<br />
what insights could you generate to solve for that?</p>
<p>[00:54:37.223]<br />
And therefore, how,</p>
<p>[00:54:39.540]<br />
what technology do you need to implement,</p>
<p>[00:54:42.390]<br />
or expand or develop in to enable</p>
<p>[00:54:45.189]<br />
that solving of whatever the business need is.</p>
<p>[00:54:49.190]<br />
And that’s the approach we take very much.</p>
<p>[00:54:51.410]<br />
Data-driven.</p>
<p>[00:54:52.760]<br />
<encoded_tag_open />v -<encoded_tag_closed />Liv thank you very much indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:54:54.748]<br />
We’ve got five minutes left,</p>
<p>[00:54:57.200]<br />
so we’re going to flick onto the final topic</p>
<p>[00:55:00.050]<br />
and I actually would change the sort of tone on this.</p>
<p>[00:55:03.500]<br />
Hopefully I’ll get a very specific question.</p>
<p>[00:55:05.510]<br />
I just like to go around everyone</p>
<p>[00:55:06.980]<br />
and get your surgeon succinct, answer on this one.</p>
<p>[00:55:09.525]<br />
And we’re going to pick up on that point, data.</p>
<p>[00:55:15.570]<br />
So the final sort of theme is standards.</p>
<p>[00:55:17.441]<br />
So you’ve talked about integration,</p>
<p>[00:55:21.010]<br />
you’ve talked about transparency</p>
<p>[00:55:23.000]<br />
and Liv you’ve made a wonderful point of,</p>
<p>[00:55:25.090]<br />
don’t talk about digital.</p>
<p>[00:55:26.080]<br />
It’s all about data.</p>
<p>[00:55:27.050]<br />
So we’re in the world of data.</p>
<p>[00:55:28.320]<br />
So the question to all of you is how important</p>
<p>[00:55:32.117]<br />
are our standards, data standards,</p>
<p>[00:55:35.820]<br />
and how far does in that</p>
<p>[00:55:41.360]<br />
we’d like to start Liv.</p>
<p>[00:55:45.910]<br />
Should we start with you?</p>
<p>[00:55:51.400]<br />
<encoded_tag_open />v -<encoded_tag_closed />Do you mean standard specific CSG<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:55:53.570]<br />
or standards around data,</p>
<p>[00:55:56.182]<br />
generally.</p>
<p>[00:55:58.150]<br />
<encoded_tag_open />v -<encoded_tag_closed />I guess, standards around data,<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:55:59.860]<br />
generally that play into ESG,</p>
<p>[00:56:01.570]<br />
but standards around data.</p>
<p>[00:56:04.557]<br />
<encoded_tag_open />v -<encoded_tag_closed />The standards that you, it depends.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:56:07.770]<br />
It depends on each individual company really,</p>
<p>[00:56:11.660]<br />
as to what data’s done, that you might put into place,</p>
<p>[00:56:15.810]<br />
what data models you might develop.</p>
<p>[00:56:17.940]<br />
It depends on the area of the business,</p>
<p>[00:56:21.290]<br />
the function, the discipline,</p>
<p>[00:56:23.877]<br />
it is important to have standards,</p>
<p>[00:56:26.740]<br />
but I think it was Leah that mentioned the importance,</p>
<p>[00:56:29.257]<br />
of enabling we’ve got impacts of different geographies.</p>
<p>[00:56:33.080]<br />
And within a company you’re going to have nuances</p>
<p>[00:56:36.850]<br />
between the different geographies in terms of the data</p>
<p>[00:56:40.190]<br />
that they need.</p>
<p>[00:56:42.100]<br />
Obviously, a lot of overlaps in many disciplines,</p>
<p>[00:56:44.630]<br />
but the data that they need</p>
<p>[00:56:45.810]<br />
and also the data that they have access to.</p>
<p>[00:56:48.780]<br />
And there may be some restrictions around that.</p>
<p>[00:56:50.660]<br />
So data standards,</p>
<p>[00:56:52.372]<br />
there’s an element that can be company-wide,</p>
<p>[00:56:55.810]<br />
but actually you need to allow for the nuances</p>
<p>[00:56:58.050]<br />
of geographies,</p>
<p>[00:56:58.883]<br />
you need to allow for the nuances of different stages</p>
<p>[00:57:01.480]<br />
of a project life cycle or different segments</p>
<p>[00:57:04.190]<br />
of the value chain?</p>
<p>[00:57:05.520]<br />
<encoded_tag_open />v -<encoded_tag_closed />Okay, Liv thank you very much.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:57:07.104]<br />
<encoded_tag_open />v -<encoded_tag_closed />Leah over to you.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:57:08.420]<br />
<encoded_tag_open />v -<encoded_tag_closed />Yeah, no, I would, I would almost take it<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:57:12.330]<br />
probably similar, but any other way around,</p>
<p>[00:57:14.750]<br />
I think if there was a greater harmonization</p>
<p>[00:57:18.610]<br />
of some ESG standards across</p>
<p>[00:57:23.190]<br />
industries,</p>
<p>[00:57:24.640]<br />
it would certainly facilitate data management.</p>
<p>[00:57:27.430]<br />
I think the real challenge we face is we are bombarded</p>
<p>[00:57:31.070]<br />
by a multiplicity of standards for different markets,</p>
<p>[00:57:35.950]<br />
for different segments of our industry,</p>
<p>[00:57:38.690]<br />
and then different geographies as Liv mentioned.</p>
<p>[00:57:41.270]<br />
And if there was like, there is in,</p>
<p>[00:57:44.330]<br />
in finance a little bit more of a consensus</p>
<p>[00:57:47.960]<br />
on ESG standards that would simplify considerably</p>
<p>[00:57:53.647]<br />
the data standard or the data management element,</p>
<p>[00:57:57.000]<br />
we would need, again, as Liv</p>
<p>[00:57:58.480]<br />
said, some room for adjustment,</p>
<p>[00:58:01.690]<br />
but it would be a much simpler ecosystem</p>
<p>[00:58:04.266]<br />
than the one we’re facing now.</p>
<p>[00:58:06.230]<br />
And I think that’s the call you hear from all sustainability</p>
<p>[00:58:09.980]<br />
professionals, in any cases,</p>
<p>[00:58:10.941]<br />
the quest for a little bit more of a harmonization</p>
<p>[00:58:14.960]<br />
in standards internationally.</p>
<p>[00:58:16.948]<br />
<encoded_tag_open />v -<encoded_tag_closed />Thank you very much.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:58:17.883]<br />
Rainer.</p>
<p>[00:58:19.204]<br />
<encoded_tag_open />v -<encoded_tag_closed />I think it’s data standardization is extremely important,<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[00:58:23.600]<br />
especially for a, for a company which</p>
<p>[00:58:25.740]<br />
has operation many different countries.</p>
<p>[00:58:31.500]<br />
This is one,</p>
<p>[00:58:34.913]<br />
precondition for me to,</p>
<p>[00:58:36.000]<br />
to talk the same language.</p>
<p>[00:58:37.540]<br />
You know, if,</p>
<p>[00:58:38.400]<br />
if we cannot exchange data and things getting</p>
<p>[00:58:43.100]<br />
very important.</p>
<p>[00:58:43.933]<br />
And the practical example of that when,</p>
<p>[00:58:46.610]<br />
when I look at the last a decade or maybe last 15 years,</p>
<p>[00:58:52.140]<br />
how much time we spent in data preparation and just to</p>
<p>[00:58:56.930]<br />
present, you know, we are really,</p>
<p>[00:58:58.780]<br />
I think my experts,</p>
<p>[00:59:00.160]<br />
I spent at least one third of the time, not in the field,</p>
<p>[00:59:03.560]<br />
but to create PowerPoints</p>
<p>[00:59:05.140]<br />
just to report.</p>
<p>[00:59:08.860]<br />
And I think this is not directly ESG</p>
<p>[00:59:11.207]<br />
but the data standardization is the precondition</p>
<p>[00:59:13.490]<br />
to work with dashboards, to work with standard information,</p>
<p>[00:59:19.590]<br />
which are easier to understand an easier to come</p>
<p>[00:59:22.870]<br />
to communicate, but also to understand by the management,</p>
<p>[00:59:25.620]<br />
if we report.</p>
<p>[00:59:28.010]<br />
And, then the other aspect of course,</p>
<p>[00:59:30.790]<br />
is exchange of information between the different systems.</p>
<p>[00:59:34.926]<br />
We see that, for example, in the,</p>
<p>[00:59:36.520]<br />
in the moment we are looking at, at our fleet data,</p>
<p>[00:59:40.380]<br />
and of course we don’t have homogeneous fleets,</p>
<p>[00:59:42.600]<br />
we have all</p>
<p>[00:59:45.610]<br />
kind of producers and our operations.</p>
<p>[00:59:46.966]<br />
And also there it’s would be nice if,</p>
<p>[00:59:50.090]<br />
if they would agree on one standard.</p>
<p>[00:59:52.240]<br />
And I know that there are efforts to do that</p>
<p>[00:59:54.600]<br />
so that we, that we can utilize the data very well.</p>
<p>[00:59:59.220]<br />
I think it’s, it’s very important,</p>
<p>[01:00:00.600]<br />
and re we have a high focus on that in the moment.</p>
<p>[01:00:03.334]<br />
<encoded_tag_open />v -<encoded_tag_closed />Rainer, thank you very much, indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[01:00:04.560]<br />
I’m conscious we’re over the RSO.</p>
<p>[01:00:06.510]<br />
So Craig grind to yourself for a quick assigned bite</p>
<p>[01:00:09.850]<br />
on standards.</p>
<p>[01:00:11.640]<br />
<encoded_tag_open />v -<encoded_tag_closed />Yeah, very quickly.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[01:00:12.710]<br />
I would just say that in my view,</p>
<p>[01:00:14.220]<br />
the data standards feed into wider standards, essentially.</p>
<p>[01:00:18.070]<br />
I think for example,</p>
<p>[01:00:18.940]<br />
the tailing standards have been a success</p>
<p>[01:00:21.520]<br />
and you see initiatives like the Corporal Mark,</p>
<p>[01:00:24.066]<br />
Caldwell Traceability initiatives are making great inroads.</p>
<p>[01:00:26.300]<br />
I think these are important as customers become more aware</p>
<p>[01:00:29.150]<br />
of the source of their metals</p>
<p>[01:00:30.530]<br />
and legislation’s implemented and those things,</p>
<p>[01:00:33.340]<br />
but it also comes back to data transparency</p>
<p>[01:00:35.870]<br />
and stake holder collaboration, as we mentioned,</p>
<p>[01:00:38.160]<br />
because I feel that this data will need to be,</p>
<p>[01:00:42.010]<br />
and these standards will need to be in place to facilitate</p>
<p>[01:00:44.840]<br />
all the automation and electrification initiatives</p>
<p>[01:00:47.983]<br />
and the automation of ESG metrics.</p>
<p>[01:00:51.480]<br />
But I also feel that ESG</p>
<p>[01:00:54.990]<br />
data monitoring</p>
<p>[01:00:56.340]<br />
is really just at the start of this journey in mining.</p>
<p>[01:00:58.530]<br />
So I think there’s a lot of road left there.</p>
<p>[01:01:00.710]<br />
<encoded_tag_open />v -<encoded_tag_closed />Great, thank you very much, indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[01:01:02.925]<br />
And Colin, we’re coming to you for the final word.</p>
<p>[01:01:05.540]<br />
I’ll just jump quickly to Thomas and James,</p>
<p>[01:01:08.730]<br />
a quick sound bite from Thomas and James</p>
<p>[01:01:11.270]<br />
in regard to standards and data.</p>
<p>[01:01:14.370]<br />
<encoded_tag_open />v -<encoded_tag_closed />I say that the sequence has always supported standards.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[01:01:17.610]<br />
I mean, we were implementable in divine design</p>
<p>[01:01:20.760]<br />
and implementing,</p>
<p>[01:01:21.593]<br />
for example, the OMS standard,</p>
<p>[01:01:23.353]<br />
but, you know, standards,</p>
<p>[01:01:26.430]<br />
you know, would save societies just so much time</p>
<p>[01:01:29.060]<br />
and effort and money and you know,</p>
<p>[01:01:30.269]<br />
and many of the challenges have been talked about,</p>
<p>[01:01:33.790]<br />
just using the data and moving it along</p>
<p>[01:01:36.330]<br />
are due to the lack of standards</p>
<p>[01:01:37.960]<br />
as well as failed software projects.</p>
<p>[01:01:40.400]<br />
So I think standards are always good.</p>
<p>[01:01:43.670]<br />
It makes life easier and more efficient.</p>
<p>[01:01:46.960]<br />
It’s ESG it felt really</p>
<p>[01:01:48.660]<br />
right?</p>
<p>[01:01:50.970]<br />
<encoded_tag_open />v -<encoded_tag_closed />Yeah, probably just to add to that.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[01:01:52.270]<br />
I mean, I think there’s two points to that.</p>
<p>[01:01:53.500]<br />
One is that again, it’s on software providers,</p>
<p>[01:01:55.650]<br />
such as ourselves to design the, as you said,</p>
<p>[01:01:58.397]<br />
the open platforms that can take different data formats.</p>
<p>[01:02:01.460]<br />
So we’re not locking ourselves down to one particular thing.</p>
<p>[01:02:04.820]<br />
So to make it as open as possible.</p>
<p>[01:02:06.413]<br />
And the other point has made earlier about how do we raise</p>
<p>[01:02:09.010]<br />
the entire industry?</p>
<p>[01:02:09.910]<br />
So how do we bring up those, this smaller producers?</p>
<p>[01:02:12.270]<br />
And I think it’s again important for the larger companies</p>
<p>[01:02:16.157]<br />
to set those standards and that makes easier for others</p>
<p>[01:02:19.810]<br />
to follow.</p>
<p>[01:02:20.643]<br />
So whether that is data or ESG standards,</p>
<p>[01:02:24.599]<br />
if we ca lead then we can bring everybody</p>
<p>[01:02:27.013]<br />
else up with that.</p>
<p>[01:02:28.950]<br />
<encoded_tag_open />v -<encoded_tag_closed />James, thank you very much indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[01:02:30.857]<br />
Dr. Colin final word.</p>
<p>[01:02:33.790]<br />
<encoded_tag_open />v -<encoded_tag_closed />I agree with everything.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[01:02:34.623]<br />
Everyone has to set the additional aspect</p>
<p>[01:02:36.700]<br />
I’d put onto it,</p>
<p>[01:02:37.570]<br />
which we sort of tickled if you like,</p>
<p>[01:02:39.664]<br />
is the importance of data standards for the supply chain.</p>
<p>[01:02:42.223]<br />
I think Craig was particularly mentioning this,</p>
<p>[01:02:44.520]<br />
but, you know,</p>
<p>[01:02:46.730]<br />
a bunch of my members specialize in lifecycle analysis.</p>
<p>[01:02:50.150]<br />
If the only data you’ve got is from niobium mining</p>
<p>[01:02:54.090]<br />
in Brazil, for example, that’s the data you have to use,</p>
<p>[01:02:58.160]<br />
and that may not be representative of niobium</p>
<p>[01:03:01.120]<br />
mining anywhere else.</p>
<p>[01:03:02.640]<br />
And if that data is either not available or available</p>
<p>[01:03:05.673]<br />
in a very weird kind of way at data standards,</p>
<p>[01:03:08.790]<br />
you’ve got a real problem with understanding</p>
<p>[01:03:10.690]<br />
the impact of the whole supply chain.</p>
<p>[01:03:12.030]<br />
And I think that’s becoming much more of interest</p>
<p>[01:03:15.160]<br />
to the downstream user of the things that our industries</p>
<p>[01:03:17.630]<br />
are delivering.</p>
<p>[01:03:19.120]<br />
So I agree with everything else,</p>
<p>[01:03:20.890]<br />
but also data standards to enable that supply chain</p>
<p>[01:03:24.070]<br />
transparency to work properly.</p>
<p>[01:03:27.740]<br />
<encoded_tag_open />v -<encoded_tag_closed />Colin, thank you very much, indeed.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[01:03:29.170]<br />
We are three minutes over the time, my apologies,</p>
<p>[01:03:32.280]<br />
terrible motivations,</p>
<p>[01:03:33.545]<br />
and I’m afraid that’s all we have time for today.</p>
<p>[01:03:36.580]<br />
Thank you all for the perspectives, some brilliant points.</p>
<p>[01:03:39.780]<br />
So it’s very clear that ESG is ubiquitous across</p>
<p>[01:03:42.360]<br />
stakeholders, not just from employees but customers,</p>
<p>[01:03:45.970]<br />
but to investors as well.</p>
<p>[01:03:48.440]<br />
Interesting point around how ESG can be a proxy</p>
<p>[01:03:51.890]<br />
for good management and a metric for that.</p>
<p>[01:03:54.780]<br />
So I think that’s an interesting point</p>
<p>[01:03:58.060]<br />
at the core of digital transformation are humans</p>
<p>[01:04:01.300]<br />
and change management.</p>
<p>[01:04:02.210]<br />
So Leah has some really interesting points there,</p>
<p>[01:04:05.120]<br />
and I think what’s come out from the beginning</p>
<p>[01:04:07.950]<br />
of this conversation and we finish on it</p>
<p>[01:04:10.250]<br />
is it’s not digital it’s data</p>
<p>[01:04:13.510]<br />
and everything that goes with that transparency</p>
<p>[01:04:15.810]<br />
integration standards.</p>
<p>[01:04:17.460]<br />
So lots of really interesting points.</p>
<p>[01:04:19.410]<br />
I just like to extend a sequence deep,</p>
<p>[01:04:22.540]<br />
thanks to all of you for taking the time.</p>
<p>[01:04:26.510]<br />
Craig, Colin, Liv, Leah and Rainer.</p>
<p>[01:04:30.370]<br />
Thank you all very much.</p>
<p>[01:04:31.960]<br />
Indeed.</p>
<p>[01:04:32.900]<br />
A delight to meet with you.</p>
<p>[01:04:35.780]<br />
Thank you for taking the time.</p>
<p>[01:04:37.100]<br />
Thank you for making yourselves available.</p>
<p>[01:04:38.700]<br />
Your views have been hugely, hugely valuable to the session.</p>
<p>[01:04:42.350]<br />
So thank you all very much.</p>
<p>[01:04:44.010]<br />
And I hope I haven’t chewed into too much</p>
<p>[01:04:46.309]<br />
of the next meeting.</p>
<p>[01:04:48.250]<br />
Thank you all very much, indeed.</p>
<p>[01:04:49.540]<br />
<encoded_tag_open />v -<encoded_tag_closed />Great you welcome..<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[01:04:51.190]<br />
<encoded_tag_open />v -<encoded_tag_closed />Thank you.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[01:04:52.023]<br />
<encoded_tag_open />v -<encoded_tag_closed />Thank you.<encoded_tag_open />/v<encoded_tag_closed /></p>
<p>[01:04:52.959]<br />
(inaudible)</p>
<p>[01:04:55.920]<br />
<encoded_tag_open />v -<encoded_tag_closed />Bye<encoded_tag_open />/v<encoded_tag_closed /></p>
<wpml_invalid_tag original=”PHA+” />[01:04:57.110]<br />
<encoded_tag_open />v -<encoded_tag_closed />Bye.<encoded_tag_open />/v<encoded_tag_closed />