RTS: Harris warns Aussie mining supremacy is under threat, while Minister King fires up on nuclear

Sandfire Resources chief executive Brendan Harris said parts of Africa and Europe are nipping at the heels of Australia as the world’s premier mining jurisdiction.

Meanwhile, Federal Resources Minister Madeleine King hammered another nail in the nuclear energy coffin and brushed off suggestions artificial intelligence could devastate jobs in the resources industry.

Mr Harris, speaking at a Resources Technology Showcase panel, said Sandfire had avoided much of the cost inflation and regulatory approval logjams plaguing Australian mining operations in recent years.

West Perth-based Sandfire, which owned the high-grade DeGrussa mine in WA until it was exhausted in 2023, has found renewed success with mines in Spain and Botswana.

“We haven’t had anywhere near the level of inflationary pressure in our industry in those two locations (Spain and Botswana) over the last two to three years (compared to Australia),” Mr Harris said.

“In fact, our costs remain relatively steady. Our approvals are generally more easily obtained with the same rigor, I might add.

“But the last one, the thing I feel people need to be really aware of, is in Spain we buy 100 per cent of our power off the grid, 100 per cent carbon emissions-free.

“We haven’t had to develop any of that capacity. So when we think about this as a race, somewhat, I think we just need to be careful to assume that we (Australia) are at the front of the pack.”

With the panel’s discussion revolving around artificial intelligence and its heavy energy requirements in the context of a decarbonising world, a fired-up Minister King emphatically ruled out nuclear energy becoming part of Australia’s energy mix.

The Coalition made nuclear energy a key tenet of its energy policy leading up to the May Federal election.

“It didn’t get them (the Coalition) very far . . . the election was not that long ago, and we talked about it a lot. So at the moment, that’s not up for re-consideration.”

Minister King said it was “reasonable” people in the mining industry were fearful of being replaced by AI but she believes the technology would enable a new tranche of “better, safer jobs” in the industry.

Caterpillar vice president of technology and global sales Corey Wurtzbacher and Hancock Iron Ore executive general manager of technology Kate Flanagan were in agreement that AI presented more opportunities than threats.

“(AI is) definitely not a threat, it creates more opportunities, a higher level of performance. I’m not a technologist, but I look after a technology team — there’s plenty of room in technology for everyone,” Ms Flanagan said.

She said a ‘Skynet’ scenario reminiscent of the 1980s blockbuster film Terminator, where AI machines overpower their human creators and take control of the globe, was an “unlikely scenario.”

Mr Wurtzbacher said Caterpillar was investing big in AI and technology more broadly to enhance its offerings to mining clients across the globe.

“Caterpillar really wants to be positioned with WesTrac as to how do we really provide value to the customer, and lean in heavily with research and development to support that initiative”.