Whilst there is somewhat of a mining renaissance happening, there are still some uncertainties attached to the market.
I recently spoke with Declan Franzmann, the vice president of Black Mountain Metals, a company that mines rare earth metals used for electric batteries. We spoke at length about the new exciting, and pioneering technologies that could potentially utilize Australian mined resources. Also, what his concerns are within the mining industry and the things that are getting him excited.
Our whole conversation was fascinating, but I wanted to share a few key points.
An Evolution of New Technology Means Big Business For Australian Mining
If you have been keeping an ear to the ground, you may have heard whispers surrounding the development of new electric battery technology within the Asian market.
Pollution is a nationwide catastrophe in China’s main cities, so getting as many petrol cars off the road and replacing them with battery powered ones is a top priority. As their engineers commence with the rigorous product testing and manufacturing, the international community is eagerly waiting to piggyback off what China is producing.
Metals such as zinc, nickel, cobalt and copper are all part of the battery engineering process, and could spell a growth in demand from Australian mines.
That being said, in order to catch this wave, the industry must be ready and pre-empt the demand for electrical vehicle resources.
Using Nerves To Power Through
Nervousness within the mining industry is very common place, particularly among management. When taking on new opportunities, you never know how your investments will pan out. Declan says, “Chasing opportunities always involves a certain level of nervousness around it,” but it’s in fact that nervousness that he uses to motivate himself.
Employee transient behaviour is something that comes with the territory in the peaks and troughs of mining. It’s basically, the grass being greener effect. “From a manager’s point of view, that continual movement of people from operation to operation is a great source of anxiety.”
If more work or higher wages are available elsewhere, then many employees will be willing to jump ship. In Declan’s 25 years, he has found that this is typical within the industry.
In an attempt to combat it, just ensure that your loyal workers are well looked after particularly when it comes to onsite camp accommodation.
Also, if you are looking to entice a new assemblage of steadfast employees, you should attempt to offer higher wages to attract them. It’s as simple as that.
Finding Your Place Within Mining
There’s an abundance of opportunities available in mining. It’s an industry that understands the potential of what Australia has in the ground, and there are plenty of resources left. The change in technology will change what the industry ends up mining over time, so there will always be stable employment opportunities.
Keep abreast of new potential ventures, and pre-empt future demands that could benefit your business. If you’re in management, do right by your staff and keep them safe and happy.
Listen to the entire conversation with Declan here.
