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City A.M

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CityAM.com is the online presence of City A.M., London's first free daily business newspaper. Both platforms cover financial and business news as well as sport and…

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2022 Will Be A Pivotal Year For Mining

  • The global mining industry is facing its most important decade ever as the world races to reduce its dependence on fossil fuels.
  • The energy transition has sparked a race for critical metals used in solar power and battery technology.
  • Miners will also have to keep their operations safe and sustainable in the years to come if they want to remain relevant.

The international mining industry is facing arguably “its most important decade” as the world starts the transition from fossil fuels to renewable energy, the CEO of the International Council on Mining and Metals (ICMM), Rohitesh Dhawan, said in an interview earlier this month.

Dhawan emphasized that mining will be at the very center of this transition because of the burgeoning demand for metals used in solar and wind power, and in the batteries needed to drive electric vehicles.

On the back of his confirmed participation at the Future Minerals Summit in Riyadh, Dhawan stressed ICMM’s simple message of “mining with principles” to maximize the benefit of mining while minimizing the harm to people and the environment.

Dhawan said that ICMM seeks to ensure that the lives of everyone touched by mining are made better, and that the operations are safe, fair, equitable, just and sustainable.

ICMM’s 28 corporate members represent one-third of the global mining industry, and through its association members the council has an indirect influence on most of the sector.

Saudi summit next month

The issues are amongst those being addressed at The Future Minerals Summit (FMS) in Riyadh on January 11-13.

The event will include senior political and business leaders, and will discuss crucial issues facing the global mining industry, with around 150 mining, exploration and development companies expected to attend.

The Middle East, Central Asia and Africa have the mineral endowment and the right geography to become a hub for the minerals value chain and play a vital role in meeting the exponential growth in global demand for the critical minerals needed in a low-carbon society.

By CityAM

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