Environmental Engineering Reference
In-Depth Information
22
Looking Ahead
Given the massive capital involved, the mining industry is not given to frivolous
or fashionable change. However, when new and proven technology becomes
available, technology that will increase productivity, the industry will move
as quickly as fi nancing systems allow to put it in place. This closing chapter
will consider key changes that are possible in the mining industry, not only
in technology but in structure, in the near to medium term future, as well as
discussing the environmental consequences of these changes. The chapter will
also refl ect on the role the environmental impact assessment practice may play
as the industry moves to re-establish itself in the eyes of the public, not only
as an essential element in modern industrial society but as an environmentally
responsible, international citizen. Finally consideration is given to current global
economic change and its ramifi cation for the mining industry and for the expected
environmental performance of new mines.
22.1 EXISTING TRENDS IN THE MINING SECTOR
Bigger and Better?
The large mining companies have grown large, generally, because they have successfully
operated multiple mining projects over long periods and, in the process, have become
i nancially strong. This implies that they have been at least moderately well managed and
that their successful projects have outnumbered their unsuccessful ones. With few excep-
tions, large projects, although not necessarily discovered by large companies, are operated
by large companies. Exceptions do occur, such as the Grasberg Copper and Gold Project
in Indonesia which was discovered and developed by a medium sized company - Freeport
McMoran - that on the strength of this large project has become a major producer. More
to the point, only large companies have the i nancial capacity to undertake such multi-
billion dollar developments. A major benei t of their i nancial strength is that large com-
panies are unlikely to renege on their environmental obligations and commitments, even
for those projects that, for one reason or another, are prematurely closed as unproi table.
Another strength of large companies is the research and development that they spon-
sor, and the internal training they provide, much of which subsequently benei ts others
Only large companies have the
fi nancial capacity to undertake
multi-billion dollar developments.
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