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Gold Fields — 6th Annual ALUMaT Lecture (October 2018)
46 slides from Gold Fields's conference presentation, Oct 19, 2018
Slide 1: 6th Annual ALUMaT Lecture
6TH ANNUAL ALUMaT LECTURE DR. WINFRED ASSIBEY-BONSU; SACNASP, FSAIMM Group Geostatistician & Evaluator, GFL Corporate Technical Services Friday, 19th October, 2018
Slide 2: Welcome
Welcome | Govo (ae
Slide 3: Topic / Synopsis
Topic / Synopsis Investing in engineering, research and education in UMaT: A roadmap for multiplying Ghana’s mineral wealth 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 3
Slide 4: Contents
Contents • Mining industry trends and challenges (Deloitte report 2018) • The importance of minerals to the economy • Education, skills and mining expertise for mining in the 21st century and beyond • Mining expertise, R&D and innovation, and exploration & investment attractiveness • Questions Ghana
Slide 5: Mining industry trends and challenges (Deloitte report 2018)
Mining industry trends and challenges (Deloitte report 2018)
Slide 6: Mining industry trends and challenges
Deloitte report 2018 Mining industry trends and challenges Source: Thermofisher blog summary of Deloitte report; https://www.thermofisher.com/blog/mining/2018-deloitte-report-mining-industry-trends-and-challenges/ & Deloitte ‘Tracking the trends 2018 report: http://www.mining.com/wp-content/uploads/
Slide 7: Mining industry trends and challenges (continued)
Deloitte report 2018 Mining industry trends and challenges (continued) Source: Thermofisher blog summary of Deloitte report; https://www.thermofisher.com/blog/mining/2018-deloitte-report-mining-industry-trends-and-challenges/ & http://metals.visualcapitalist.com/impact-evs-commodities/ 6TH ANNUAL AL
Slide 8: From stabilisation to growth, putting Ghana back to work and the importance of minerals to the economy
From stabilisation to growth, putting Ghana back to work and the importance of minerals to the economy
Slide 9: From stabilisation to growth, putting Ghana back to work
‘From stabilisation to growth, putting Ghana back to work’ • Special budgetary allocation of GHc 5m for UMaT campus infrastructure • Tax Breaks to Position Ghana as a Higher-Education Hub • Corporate income tax relief to private universities • Training of small scale miners • McKinsey & Co to help b
Slide 10: Green shoots – Sprouts of progress towards a prosperous future
Green shoots – Sprouts of progress towards a prosperous future • Ghanaian government MOU with Volkswagen (VW) to establish a vehicle assembly facility and also assess the feasibility of a modern “Mobility Concept” • Re-development of the Obuasi Gold Mine 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibe
Slide 11: Metallic mineral, metals and coal export contribution
Metallic mineral, metals and coal export contribution (as % of total). Simple Ave. Source: Data UNCTAD; ICMM, http://data.icmm.com/ 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 11
Slide 12: Australian contributions to exports; Growth in mining
Australian contributions to exports Growth in mining Source: Australian Bureau of Agricultural and Resource Economics, Australian Commodities Statistics, and Department of Industry and Science 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 12
Slide 13: Ghana GDP versus gold price
Ghana GDP versus gold price Source: Gold Prices from World Gold Council and GDP from World Bank Data 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 13
Slide 14: Gold mining is a major driver of Ghana's economy
Gold mining is a major driver of Ghana’s economy Among the top corporate tax payers over the past 20 years are: Source: Ghana Chamber of Mines (2017), World Bank 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 14
Slide 15: Enhancing indirect employment contributions through supplier development programmes
Enhancing indirect employment contributions through supplier development programmes • Potentially one mining position in Ghana supports 28 other livelihoods, in Peru 19 jobs and in South Africa 1.4 million jobs, each supporting around nine dependents. • Community development through preferential com
Slide 16: Gold Fields operations and projects worldwide
Gold Fields operations and projects worldwide Source: Gold Fields 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 16
Slide 17: Gold Fields' 25 years in Ghana
The potential and the time it takes are seen in Gold Fields’ 25-years in Ghana Community Employment In country Government Infrastructure spend procurement revenue Source: Gold Fields 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 17
Slide 18: Education, skills and mining expertise for mining in the 21st century and beyond
Education, skills and mining expertise for mining in the 21st century and beyond
Slide 19: QS World university rankings 2018: Mineral & mining engineering
QS World university rankings 2018 Mineral & mining engineering 2018 rank University Country 1 Colorado School of Mines United States 2 Curtin University Australia 3 McGill University Canada 4 Technische Universität Bergakademie Freiberg Germany 5 Pennsylvania State University United States 6 Queen's
Slide 20: Crisis in mining engineering education
Crisis in mining engineering education • Stacey et al (2008) showed the World’s mining engineering education and research sphere was in crisis. • Mines cannot operate without mining engineers, who are required for regulatory (as well as practical) purposes. Source: https://republicofmining.com/2014/
Slide 21: Australian mining engineering graduates in short supply
Australian mining engineering graduates in short supply • In 2017, 171 people were expected to graduate from Australian mining engineering courses, falling to 98 this year (2018), to 69 in 2019 and 47 in 2020. • It will be difficult to source mining engineers from overseas Source: Debra Stirling (Ch
Slide 22: North American mining engineering graduate situation
North American mining engineering graduate situation • In 2014 40% of Canadian mining professionals and technicians were 50 years old or older. • ‘Missing generation’ in the Canadian mining sector, with most employees over 50 or under 35. • Specialised geoscience programmes at U.S. colleges and univ
Slide 23: Current Canadian mining engineering situation
Current Canadian mining engineering situation • Mining and minerals engineering programmes were the fastest growing engineering disciplines between 2009 and 2013 at +56%, though in 2016 it unfortunately also showed the greatest decline with enrolment down 11.8%. • The mining sector must work hard in
Slide 24: Current Canadian mining engineering situation
Current Canadian mining engineering situation Source: https://engineerscanada.ca/reports/canadian-engineers-for-tomorrow-2016#data-tabulations-engineering-enrolment-and-degrees-awarded 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 24
Slide 25: Mining expertise, R&D and innovation
Mining expertise, R&D and innovation
Slide 26: The engineering circle or wheel of design and project value development
The engineering circle or wheel of design and project value development with time (Fig.2) Project value development with time (Fig.1) Engineering Circle (Design Process) (Schematic project timeline) Source: Stacey et al., 2007 & 2008 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th Octobe
Slide 27: Mining – From hand, to mechanised to automated, to …?
Mining – From hand, to mechanised to automated, to …? • R&D is moving at incredible speed. • Canada and Australia have world class R&D mining centres. South Africa have opened their own version last month. Source: Internet, accessed September 2018; various, including South Deep and mining global.com
Slide 28: Mining research
Mining research • No investment in research = no long-term future for that industry. • South Africa introduced tax incentives for R&D and opened the Mandela Mining Precinct (MMP). • Australia reaping rewards of billions of dollars of exports from the millions it spent on R&D in the past decades. • C
Slide 29: Researchers per million inhabitants and R&D as % of GDP
Researchers per million inhabitants and R&D as % of GDP Source: Latest available data from the UNESCO Institute for Statistics (UIS), (Source: http://uis.unesco.org/apps/visualisations/research-and-development-spending/). 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 29
Slide 30: Potential economic impact of current and future technologies – McKinsey estimates
Potential economic impact of current and future technologies – Mckinsey estimates • Potential economic impact of technology of ~US$370 billion per year worldwide by 2025; • 17% of projected cost base of the industry globally at that time. Source: https://www.mckinsey.com/industries/metals-and-mining
Slide 31: Rio Tinto control room in Perth for automated iron ore mine
Rio Tinto control room in Perth for automated iron ore mine in the Pilbara Source:. http://www.abc.net.au/news/2015-10-18/img_0266.jpg/6864164 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 31
Slide 32: Autonomous (driverless) trucks at West Angelas mine
Autonomous (driverless) trucks at West Angelas mine (Rio Tinto, Australia) Source:. www.mining.com; (Image: Christian Sprogoe Photography | Rio Tinto 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 32
Slide 33: Autonomous (self-directed) drill rigs (Rio Tinto, Australia)
Autonomous (self-directed) drill rigs (Rio Tinto, Australia) Source:. https://www.mining-technology.com/features/mining-robots-rio-tinto-doubles-autonomous-drilling/ ; Image: Christian Sprogoe Photography | Rio Tinto 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 33
Slide 34: Autonomous locomotive (Rio Tinto, Australia)
Autonomous locomotive (Rio Tinto, Australia) Source:. http://www.mining.com/rio-tinto-back-on-track-to-haul-iron-ore-in-driverless-trains-beginning-next-year/ ; Image: Christian Sprogoe Photography | Rio Tinto 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 34
Slide 35: Global miners are also in the race to embrace innovation
Global miners are also in the race to embrace innovation • Goldcorp, Barrick, Gold Fields, Vale and BHP are a few of the many majors embracing R&D, innovation and the implementation thereof, with initiatives across the spectrum of operations. • Asset optimisation tools can deliver significant benefi
Slide 36: Goldcorp, tele-remote operators, Red Lake Gold Mines, Ontario
Goldcorp, tele-remote operators, Red Lake Gold Mines, Ontario Source:. Facts and Figures of the Canadian Mining Industry 2017 (MAC) 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 36
Slide 37: Asteroid Ryugu exploration
Asteroid “Ryugu” (1km) exploration Pictures from its surface • Hayabusa-2 spacecraft (Mothership) • Deployed 2 small robotic explorers (rovers 1a & 1b, left above) • Capturing images (on right) Source: Internet, accessed September 2018; https://www.bbc.com/news/science-environment-45598156 6TH ANNUA
Slide 38: A miner from the future?
A miner from the future? 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 38
Slide 39: Exploration and investment attractiveness
Exploration and investment attractiveness
Slide 40: Behre Dolbear: Where to Invest in mining 2015
Behre Dolbear: ‘Where to Invest in mining 2015’ Ranking of countries for mining investment 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 40
Slide 41: Gold is where you find it (Beta Hunt mine near Kambalda)
Gold is where you find it (Beta Hunt mine near Kambalda) Source: http://www.abc.net.au/news/2018-09-12/lucky-strike-in-outback-wa-could-spark-mini-gold-rush/10233130 & http://www.abc.net.au/news/2018-09-10/rich-gold-seam-half-a- kilometre-deep-in-kambalda/10219576 6TH ANNUAL ALUMaT LECTURE| Dr. Winf
Slide 42: Questions Ghana needs to answer to leverage its mineral wealth
Questions Ghana needs to answer to leverage its mineral wealth
Slide 43: The value multiplier: A 2011 example from the USA
The value multiplier A 2011 example from the USA Source: Prof. Frimpong, S.; Multiplying the Impact of Mineral Resources: The US Experience ; Missouri University of Science and Technology; USA. 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 43
Slide 44: Questions to be answered to leverage Ghana's mineral wealth
Questions to be answered to leverage Ghana’s mineral wealth Source: www.ruby-sapphire.com & www.humor12.com. 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 44
Slide 45: Be part of the race
Be part of the race 6TH ANNUAL ALUMaT LECTURE| Dr. Winfred Assibey-bonsu | 19th October, 2018 45
Slide 46: Thank you
Ghana loves everybody, and everybody loves Ghana Thank you QUESTIONS AND ANSWERS Source: BBC; https://www.bbc.com/news/world-africa-45707559
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