Breaking News
Investing Pro 0
Cyber Monday Extended SALE: Up to 60% OFF InvestingPro+ CLAIM OFFER

Mine closures creating new regional opportunities

Stock Markets Sep 29, 2022 14:30
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Mine closures creating new regional opportunities

Experts from environmental, economic, and social-science backgrounds are converging in Sydney this November at the International Mining and Resources Conference & Expo (IMARC) to discuss opportunities created by the rehabilitation and repurposing of out-of-use mine sites.

Due to necessary land disturbances, most mine sites cannot be returned to their natural state so we must look at how to repurpose them to create long-term economic opportunities and reduce the burden on the environment.

Dr Guy Boggs, CEO of CRC TiME says these sites can provide long-term benefits far beyond mine lifespans.

“Everybody is focused on energy transition at the moment and the need to decarbonise. There are some really novel projects happening, looking at old mine pits and turning them into pumped hydropower sites,” he says.

“The old Kidston gold mine west of Townsville is starting to produce electricity with pumped hydro and also incorporates a massive solar energy farm. The mines have strong electricity grids so you can make use of the infrastructure that was built during the mine.”

Kidston Pumped Storage Hydro project will produce 250-megawatts of renewable energy, providing enough electricity to power 143,000 homes while also 900 jobs in North Queensland.

CRC TiME says old mine sites across Australia are being used for a range of long-term projects that the public may not be aware of. These include environmental sanctuaries in WA’s Goldfields region, and scientific innovations such as an underground physics lab within the Stawell Gold Mine.

The rate of new mine closures in Australia is expected to increase in the near future as many mines come to the end of their operating life. On average, a mine is expected to operate between 10 and 30 years with the resources boom beginning 30 years ago.

IMARC speaker, Meg Kauthen, Sustainability Designer at Business for Development believes Australia is uniquely positioned to capitalise on the opportunities presented by the closure of mine sites.

Ms. Kauthen said, “if we get infrastructure aligned to the community’s needs, it’s a fantastic investment beyond the life of the mine. We have been working in Africa where we have repurposed old mine infrastructure to help boost the agronomics of the region in partnership with the Cotton On Group.

“We suggest that Australian mines and mining communities need to approach the development of infrastructure in the same way.”

The economic opportunities presented to many regional communities facing mine closures will require a diversified workforce ranging from engineers, business and operations managers, accountants, hydrologists and beyond.

By diversifying the economic opportunities in regional Australia, it is hoped that more people will migrate from the capital cities help grow smaller communities.

This is just one of the many opportunities within the mining sector being explored at IMARC, where global leaders will meet with emerging innovators to collaborate on improving the future of the entire value chain across automation, communication, safety, and sustainability.

About IMARC

The International Mining and Resources Conference (IMARC) is where global mining leaders connect with technology, finance, and the future. As Australia’s largest mining event, it brings together over 7,500 decision makers, mining leaders, policy makers, investors, commodity buyers, technical experts, innovators, and educators from more than 100 countries for three days of learning, deal-making and unparalleled networking. IMARC is developed in collaboration with its founding partners the Victorian State Government of Australia, Austmine, the Australasian Institute of Mining and Metallurgy (AusIMM) and Mines and Money.

For more information, please visit https://imarcglobal.com/

Read more on Proactive Investors AU

Disclaimer

Mine closures creating new regional opportunities
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email