Strategy for World Mining in 21^st Century

There were many major events (social, political, technological and economical) in the 20th century which have influenced the economics of mining activity. Till 19th century, the common approaches were mine and market the minerals. It has created many multi-millionaires. Now it is not so. The mining activity is dependent on the following factors.

a. Industry

b. Energy

c. Transport

d. Sustainable development

e. Creative destruction

f. ICT (Internet, Communication & Technology development) This investors may give lowest preference for mining start – ups.

“Strategy for world mining in 21st century”

This article comprises three paragraphs as given below

Para1: Introduction and influencing factors in mining

Para2: Significant changes related to mining activity in the last 50 years (1996-2016).

Para3: Five-year Action Plan (2019-2024) with specific goals.

Industry

Many industries are having link with minerals with crisis in steel industry, iron ore and coking coal mines have suffered. Some coking coal mine owners are facing threat of bankruptcy. Profits have come down for iron ore exports. Limestone market also has suffered. Availability of steel scrap and copper scrap has caused adverse impact on mining companies.

Energy

There was a time when solar energy was costing 5 to 8 times the thermal (coal fires) energy. Now it is competing in tenders without any subsidies. Environmentalists are protesting against pollution in coal fired power stations. USA (Texas), Canada and some European Nation have announced closure schedule for some of their coal fired power station.

Transport

The Diesel vehicles are facing stiff pollution control norms. Crude oil prices have declined by 40% to 50%. Already some countries have initiated steps for manufacture of electric vehicles. R & D efforts also are intensifying in this direction. The lower crude oil prices may cause large scale layoffs in west Asia (OPEC). Industries, Exploration agencies supporting oil industry will continue to have some setback in future.

Sustainable development (S.D)

Mining related aspect in Sustainable development is conservation. The mineral consumption has increased significantly in 20th century. At this rate, minerals won’t be available for our posterity after a century. Hence, mining activity may come down in some minerals because of conservation efforts.

Creative destruction

Mica has faced slump with availability of plastics and solar energy is causing reduction in consumption of thermal coal. The technological developments have given shock to Kodak Company’s activity. There may be many more such examples.

I.C.T

The internet, communication and Technological developments have caused unexpected changes in every industry and mining is not exception. Robotics and software are going to cause major changes in mining activity. Employment may come down.

A. Henry Fayol University of Mining (HFUM) to be started (Henry Fayol was French mining Engineer who become CEO and authorised management theory books in 19th Century). It can be started by UNO or professional bodies with support from governments by 2020AD. Small countries will find it burdensome to start a mining institute, centres of excellence of HFUM can be speed over 10 to 15 countries.

B. Forum for mining can be started with support from professional bodies for exchange of information, ideas, priorities, experiences etc by (T.D. 1-1-2020).

C. WTO recommendations should be distributed to all mining companies &institutions, on mineral trading (T.D 1-1- 2020)

D. A structured newsletter should be distributed all over the world by internet on chargeable basis. Investor guidance cell should be there at HFUM (1-1-2022).

E. Disaster management teams to be stationed in 10 places all over the world under supervision of HFUM(T.D. 1-1-2021)

F. Standardise the parameters of quality, quantity, mine gases etc., (T D 1-1-2022)

G. Certificate course for medicos on the occupational health along with remedies are essential (T D 1-1-2022)

H. Investors should be guided well to avoid fall in capital productivity. (TD 1-1-2021)

I. Syllabus revision (80% portion) to be done by the end of March every year leaving 20% for local needs. (T D 1-1-2021)

J. HFUM should be located in an old mining town with hostel facilities for 200 PG, and 100 Ph. D students. They can do project work in their domicile countries (T D 1-1-2021)

K. Quarterly mining journal with latest developments from HFUM (T D 1-7-2021)

L. Specialised courses in all the 15 centres of excellence (T D 1-7-2021)

M. R & D budget to be prepared based on country wide requirements (T D 1-1-2022)

N. Examples of conservation to be circulated (T D 1-1-2022)

O. Minimum standards for diploma & degree institutes to be specified (labs, workshops, teaching field work. (T D 1-1-2022)

P. To avoid duplication of R & D work HFUM will specify the topics & guides.

Q. Comparison to be done with the past to silence fault finders.

R. Annual report of the HFUM should include the highlights from member countries.

Review and revision to be done for all points in 2023.