It’s counterintuitive but coal mines are shifting to eco-friendly power to limit carbon emissions

Australian miners are pivoting to greater automation and electrification with the ultimate aim of churning out no carbon dioxide.

CLEAN GREEN MINES

Imagine a coal mine that generates zero greenhouse emissions.

Does it get much more counterintuitive than that? We don’t think so.

Yet new research out this week suggests a combination of increased social pressure and a need for greater efficiencies will see Australian miners pivot to greater automation and electrification with the ultimate aim of churning out no carbon dioxide.

In what they claim is the world’s biggest mining industry survey, consulting mob VCI sought feedback from more than 450 executives about how electrification is shaking up the industry.

Their “State of Play’’ report found that a whopping 89 per cent of these top guns expect mine sites around the world to go fully electric within the next 20 years, with much of the power coming from renewable sources.

VCI co-founder Graeme Stanway.

The removal of diesel-powered vehicles from mines will not only improve the health of workers but slash the high costs of ventilation in underground sites.

Among the heavy hitters weighing in on the future of the industry were Rio Tinto, BHP, South 32 and Oz Minerals, along with tech giant Tesla.

Fear is also at play here. More than three quarters of those surveyed say they are bracing for health-related industry class actions over the next 15 years.

But the switch to electrification also offers new business opportunities and economic benefits, VCI co-founder and boss Graeme Stanway (illustrated) told us.

“Electric equipment will allow for a shift from the typical underground mine sites we see today in Australia with many pieces of heavy equipment, powered by diesel, operating underground in confined spaces alongside teams of people, towards a clean future of mining, not seen before,’’ he said.

“A future where machinery is safe, automated and battery powered. This would effectively cut out two of the biggest issues in mining: carbon impact and particulate exposure and result in zero carbon emission mines.”

Change is already under way at a number of sites around the country. Among them is the Broadmeadow mine in Queensland, where BHP continues to trial the use of light electric vehicles.

UNDER PRESSURE

Speaking of digging stuff out of the ground, environmental activists chalked up another win this week in their relentless campaign against Adani.

The greenies managed to extract a pledge from a Lloyds of London insurer that it will not renew coverage for the planned Carmichael mine, rail project and coal port in Queensland after a current policy expires in September next year.

The decision by Apollo Syndicate Management continues a distancing from the highly-controversial project by a number of big corporates.

Nearly 30 insurers have already backed away and declined coverage after their involvement attracted unwanted attention.

BELATED RELEASE

A group of dentists aiming to spill the board of deeply-troubled dental group Smiles Inclusive just got more ammunition for their rebel campaign this week.

The Gold Coast company has belatedly released results for the December half in the last financial year after the corporate regulator took legal action to force the issue.

The figures, which should have been made public almost eight months ago, reveal a net loss of $13.6m.

Smiles Inclusive has belatedly released its December half-year results.

The outlook is precarious enough that the company acknowledged “significant material uncertainties’’ exist over its ability to keep trading.

The red ink comes after Smiles suffered an eye-watering $31m net loss in the 2019 financial year.

Although the firm has a “turnaround plan’’ under way, its shares remain suspended from trading and it must repay $12m to NAB by November 3.

The company is so cash-strapped it has flagged an $8m rights issue to help repay the NAB facility.

Meanwhile, three dentists who want to turf out the existing directors aim to hold an EGM in December.