8 However, our reality is much more difficult and technically complex. Metal mines mining vertically orientated orebodies are increasing at an average depth of 40 meters each year. Ore grades for base and precious metals are decreasing at an average of 1.5% each year. In both cases, increasing demand for products is working against our physical extraction trends that will naturally increase our physical footprints over time. The countervailing trend will be the tendency to go for more underground operations as open pit waste movements constrain extraction economics. The key actions we believe are consistent with managing mining footprints include: • Maintaining focus on mining higher grade and more concentrated orebodies to keep our physical footprints focused on the best outcomes in terms of land use and longterm value creation. While economic imperatives will tend to push us there in any case – the discipline of economic rationalism is both profitable from both and economic and environmental perspective. • Pushing innovation to reduce footprints is generally consistent with sustainable cost reductions and so facilitating innovation remains a key focal point for future mining, both in economic and environmental terms. • Increase primary recovery and recycling of metals and minerals – making sure waste streams are managed for effective recovery of contained products. The concept of finding uses for “mined waste” is equally beneficial to society as we can help reduce other physical footprints created in the absence of better use of “waste products” from mining. • Improvements in material sciences to reduce consumption of certain materials in large scale applications, that is, being more efficient in the use of what we have. This talks to our previous reference to thrifting. • Material substitution, particularly where materials are in short supply, with more abundant or easier to recycle alternatives being utilized in less-critical performance applications. • Improved mining efficiencies and rehabilitation outcomes – that is, broader application of modern and efficient industrial operating practices. Of course, there are many more things we can do but you get the sense of what we need to be working on. We believe these approaches could further reduce mining footprints over the long term, while also reducing costs and social disruption at the same time. The same logic is also very powerful when dealing with water consumption, energy consumption and associated carbon generation. And let’s not forget labor productivity when talking about efficiency in service of sustainable benefits to society.
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