13 unaffordable social development models – with our structural cost offsets being more compelling by the day: ➢ Materials sciences identify opportunities for thrifting and commodity substitution. ➢ Circular economy developments where the cost of recycling becomes increasingly more attractive compared to primary mining. ➢ Structural mining innovation facilitated by new approaches, using AI and any other tools we can find to help modernize and legitimize mining as a “Materials Solutions Industry” that serves the greater needs of society. • In my view, the pace of progress on structural transformation is way too slow, leaving us at risk of failing society in the most fundamental way. We must balance short term returns with long term innovation and improvement – the balance in this commitment can be achieved and will likely have shorter term benefits that will surprise to the upside. • Consistent with us delivering on our core social contract, we also need to reinforce the importance of project approvals and permitting processes. There’s no value in being blessed with quality resources if they can’t be developed when demand and opportunity are presented. • If we don’t deliver on our basic responsibility to society, we will be judged harshly, and we will deserve that harsh judgement. Second, we need to listen to and work with our partners. People need to feel our story before we are so presumptuous to tell them what we think it is: • As we bring mining proposals to the local communities and approving authorities, we need to demonstrate we can be “community development partners”. We bring infrastructure, business opportunities and skills that can be leveraged to support targeted community developments. • In considering the configuration of mining operations, the relative environment, social and business impacts for local communities must be taken into proper account in designing, constructing and operating those assets. • On a broader basis, the concept of Collaborative Regional Development at Anglo American proved to be a gamechanger for states/provinces where mining companies have teamed with other businesses and the government to plan infrastructure developments that support both mining developments and community infrastructure for broader economic and social developments. • In 2012, Peter Bryant and I created the Development Partner Institute (DPI),
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