· Good morning /afternoon University of Queensland,· Let me start by saying what a pleasure it is tobe invited to speak with you today.· My name is Bold Baatar and I lead the Energy& Minerals product group within Rio Tinto. · As you are perhaps aware, your university andRio Tinto share a special relationship that commenced in 2012.
We have workedtogether to provide exposure for University of Queensland students to our sitesto provide real-world learning opportunities and to also encourage engineeringstudents to apply for roles with Rio Tinto.· This is a fantastic arrangement and I one that Ihope we can continue · A lot of my speeches focus on results and near-termevents – largely to shareholders, community groups and other mining related stakeholders.The pleasure in talking with you all today is that we can focus on the future· When I say future, I am talking about the technologicalfrontier that is:1. Redefiningthe minerals that consumers are demanding from us; and 2. Improvingthe way we extract these minerals; making it safer and more productive Redefining the minerals consumers are demanding from us· To provide some insight into how consumer interestsare guiding our business let’s look at a few trends in the market that are drivingdemand in our business:· Smart phone penetration in Australia is above otherdeveloped countries at 77 per cent1.Rates of growth are high in developing countries, yet higher growth and availabilityof resources is required to bridge the gap. Examples include China and Indiawith smartphone ownership statistics of XX and XX per cent respectively. Rio Tinto’s portfolio of minerals iscrucial to assisting to bridge this technology gap through borates (used in glass screens)produced in our Californian mine, Boron, and XX from XX.
Steel, · From smart phones to smart cars, the electricalcar generation has arrived. These vehicles require large intensities of lithiumand copper – far greater than their combustion predecessors – to assist with power conduction and storage. Ourportfolio is poised to ride this wave through our Jadar project in Serbia andOyu Tolgoi operation in my home country, Mongolia.· There are many other examples where our assetsare fuelling growth of the future.
We are also using a strategic fund approachcalled ‘ventures’ which is focussed on new and emerging commoditiesImproving the way we work; making it safer and more productive · In addition to technology reshaping the demandside of our business, the way in which we supply these metals is also beingrevolutionised.· About twenty per cent of our haul truck fleet inWestern Australia’s Pilbara is now autonomous2.This limits our operators interacting with machinery and enables us to operateour trucks more efficiently for longer.
· Additionally, remote operations centres inAustralia are operating mining fleets, haul trains and plants from thousands ofkilometres away. And, to be honest, this is just the start.· Innovation is essential to everything we doConclusionBeing innovative in howwe look to the future · Thank you for your time today and I wish you allthe best with your studies.
Sunny state Improving the way we work; making it safer and more productive Opportunities at RioTintoLast name, FirstInitial. (Year published). Title. City: Publisher, Page(s).
1Deloitte (Australia). 2016. MobileConsumer Survey 2016 – The Australian Cut. Link2Rio Tinto.
23 May 2017. Mining’sinnovation imperative. Perth. Rio Tinto. Link